Silicon Valley technology firm CarVi has been tapped to supply insurtech ThingCo’s next-generation telematics devices.
Described as the “clear choice,” CarVi will be producing 1,000 units for the pilot phase ahead of the launch slated later this year. ThingCo – created by UK telematics insurance pioneer and former insurethebox chief executive Mike Brockman – said the “game-changing” in-car device will incorporate telematics, a high-definition camera, Advanced Driver Assistance Systems (ADAS), and intelligent voice.
“The capabilities of our device will be like nothing else on the market,” noted Brockman. “As such we needed to work with a partner who really understands our vision and has the right skills and resources to work with us to make our concept a reality.
“Following a rigorous selection process, CarVi stood out as the clear choice. Aside from the fact that CarVi has the proven technology designed to support road safety, we have the commitment of the senior team to help us reach our end goal.”
The ThingCo CEO also shone a spotlight on what happens beyond the physical tool.
“The look and feel of the device is just one part of the story,” he said. “The crux of our offering is what we do with the data that we get from the device and how we make that work to the customer’s benefit if that’s what they want.
“Along with supporting customers on their journey in-car through intelligent voice and ADAS, we’ll assist them in proving the circumstances of a collision if they need to make a claim, we’ll sort out the repairs and compensation working with selected partners, and we’ll give them their driving score to secure cheaper insurance.”
CarVi chief creative officer Dinesh C, meanwhile, believes the partnership’s innovative proposition will vastly improve motorists’ driving experience, citing the firms’ aligned visions and the combination of CarVi’s more than two decades developing tech products within the automotive industry and the ThingCo team’s extensive insurance know-how.
“This is just the start of our journey and we look forward to working with CarVi as we head rapidly towards launch late 2018,” said Brockman.