Telematics company launches low-cost insurance

March 15th, 2018, Published in Articles: PositionIT

Cartrack, a global fleet management, vehicle tracking and insurance telematics company, has announced growth of more than 85 000 subscribers from 1 September 2017 to15 February, to total over 750 000 subscribers globally. The year-on-year subscriber growth to date is approximately 25%. The company attributes this growth to its investment in operating and distribution capacity, and says it will focus on workforce optimisation. In February the company also launched an insurance offering for vehicle theft that targets the previously uninsured market in South Africa. Leveraging its audited 93% recovery rate, insurance telematics data and investment in research and development, Cartrack is able to offer theft-only vehicle insurance at R9,99 a month, subject to terms and conditions, if a Cartrack telematics device is installed. Through this new low-cost theft insurance product, the company seeks to provide a service to the uninsured. According to the company, the launch of its low-cost, theft-only insurance product coincides with the value that insurance telematics is bringing to the industry.

Contact Cartrack South Africa, Tel 011 250-3000, clientservices@cartrack.com