Masternaut and Telefleet Insurance announce the launch of a telematics-based insurance solution for the UK motor fleet market, which represents a major step forward in risk management for the motor fleet industry.
Telefleet is the first commercial fleet insurer to fully integrate telematics, insurance products and claims management. It brings together best-in-class telematics hardware and software for light commercial vehicles, as well as company cars, all underwritten by an A+ rated insurer.
Telefleet Insurance is a newly incorporated appointed representative which aims to provide its fleet customers competitive premiums and risk management. Michael Walton, Telefleet’s Business Development Director, said: “We are delighted to be partnering with Masternaut, the UK’s largest telematics provider, using their technology to improve fleet risk. Telefleet’s offer not only provides insurance coverage but encompasses exceptional FNoL capture and speedier claims management, which will drive down claims expenses and result in lower insurance premiums.”
Dhruv Parekh, CEO of Masternaut, added: “To align our telematics solutions with an insurer such as Telefleet is a natural extension of our products and services. We recently conducted a controlled study on over 9,000 vehicles, showing that our products reduce speeding by 53%. Thanks to this partnership, we can now reward our customers’ commitment to driver safety with lower insurance premiums. It takes us one step closer to our vision of a connected world that is safer, cleaner and more productive.”