Listed on the London Stock Exchange, Trakm8 is a turnkey solutions provider for insurance telematics and fleet management. The company develops its own devices and software that collect data and provide insights to help organizations and drivers minimize risk and improve efficiency.
Trakm8’s end-to-end white label solutions for insurers include telematic devices (delivery, installations and data management) along with a digital platform for insurers and an app for policyholders. The platform allows insurers to view and manage driving data and insights such as driver behavior, journey information, exception reporting, fraud identifiers, driver scoring, first notification of loss, crash details, and alerts/messages. Trakm8’s policyholder app allows users to view their driver data and scoring, policy documents, and vehicle location and to connect with insurers.
In addition, the company provides fleet management solutions through a digital platform, which uses AI-based algorithms to optimize fleet operations. The platform also enables organizations to monitor vehicle health, driver behavior, track vehicles live, and remotely download tachograph-data.
Key customers and partnerships
Trakm8’s customer portfolio includes Direct Line Group, By Miles, Ticker, Ingenie and LexisNexis. In July 2022, it was awarded a contract to supply devices, a custom app, and a platform for auto insurer, Love Your Miles.
Funding and financials
In FY2021, Trakm8’s revenue was recorded at GBP 18.1 million (USD 24.9 million) with gross profits and operating profits of GBP 11.1 million (USD 15.3 million) and GBP 187,000 (USD 257,000), respectively. As of end-March 2022, it had 193,000 vehicles using its telematics devices.
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