Brockman founds ThingCo
Mike Brockman, founding member of insurethebox – a global pioneer in telematics insurance, has begun a new insurtech venture – ThingCo.
The new venture reflects how the business will be leveraging data from the Internet of Things.
The first phase of development will see the launch of a retro-fitted telematics device that will effectively make vehicles smart. The device will incorporate ADAS capabilities including a high definition camera with night-time vision and sensors. As well as improving driver safety, the device will have huge benefits in supporting the first notification of loss (FNOL) process when an accident does occur, positively impacting all elements of the claims supply chain.
Mike Brockman said, ‘This is the start of an exciting new chapter after nine years at insurethebox. ThingCo will facilitate the fast development of new ideas giving me greater flexibility to achieve my ambitions and goals in the telematics arena. We are in talks with a range of businesses from in and outside the insurance sector who understand the wider potential of telematics, the Internet of Things and AI and are keen to invest in this new business and work with us.’
Aioi Nissay Dowa Insurance Europe (ANDIE), part of the MS&AD Group, has agreed to purchase a 100% shareholding in Box Innovation Group, which includes the brands insurethebox and DriveLikeAGirl.