There’s Theo, and now there’s Little Theo.
Insurtech ThingCo has introduced its latest offering, which it said is now being tested by unnamed motor insurers. Little Theo is a compact self-installed telematics device which features intelligent voice and crash detection.
Solar-powered, Little Theo can run on a full charge for 50,000km per year. All data gathered by the wireless device, which sticks securely to any vehicle’s windscreen, is relayed to the Theo app.
“Little Theo is little brother to Big Theo which is our direct to consumer proposition,” said chief executive Mike Brockman (pictured). “It’s our solution to the costs associated with blackboxes and the data quality, battery, and safety issues associated with smartphone telematics apps.
“To keep costs down for insurers, the device is self-installed and we have focused on the services that will make a fundamental difference to customers and to their insurers.”
Read more: Theo comes to market
The UK telematics pioneer added: “Little Theo will detect when a collision occurs and will speak to the driver to check they are OK and if necessary contact emergency services. Our smart FNOL (first notice of loss) service will then use the telematics data to establish the circumstances of the accident and guide the customer through the claims process.”
Brockman went so far as to assert that “insurers are simply not geared up to offer this level of service.”
He said ThingCo will use delegated claims authority to support the user and expedite the claim, and in the process work for both the motorist and the insurer.
“Our serverless telematics platform is world-class, ensuring we can deal with the peaks and troughs in demand with driver scoring part and parcel of the package we are offering insurers,” declared Brockman. “We’re also in discussions with insurers to join our panel for ‘Big’ Theo.”
