MINI signs up Trak Global Group for insurance adventure

New MINI One customers will be offered a year’s inclusive insurance in a new deal signed with Trak Global Group. The UK’s largest telematics technology company has begun a new ‘proof of concept’ arrangement with BMW Financial Services (GB) Limited, starting in October 2017.

According to Ed Rochfort, who heads up Trak Global’s Insurance broking business, the promotion, MINI Ready Fuel Go Insurance, will be available to eligible customers who buy a new MINI ONE or a MINI 1499 GT. The offer applies to eligible UK customers including Northern Ireland.

“Customers can arrange a year’s insurance for themselves plus two named drivers, with a telematics solution for younger customers using a black box installed in the car or an app (essentially a black box in a smartphone). For more experienced drivers a traditional non-telematics policy is used.”

Ed Rochfort said that Trak Global will provide product design, telematics technology and scoring expertise, together with access to their capacity panel, policy administration and customer interaction services. This is the first time MINI has ventured into telematics insurance.

He added: “Younger drivers using our telematics products are 42% less likely to have an accident in their first year of driving when compared to a traditional motor insurance product, and we want to bring the same exceptional road safety record to MINI customers starting out on their driving career.”  

Steve Cann, General Manager, Insurance Solutions, at BMW Group Financial Services in the UK said: “I am delighted to partner with Trak Global Group for this important new development, which we expect to have a positive impact on sales.”

Ed Rochfort said: “Trak Global Group can provide vehicle manufacturers with all the required elements right across the insurance value chain, from technology through to data analytics and policy administration.”

“Our model is unique.  We plan to continue to grow our leadership position in this sector and are keen to provide similar arrangements with more partners in both the UK and abroad.”