Contract win with LexisNexis Risk Solutions

RNS Number : 6119B

Trakm8 Holdings PLC

24 September 2018

 

For immediate release

24 September 2018

TRAKM8 HOLDINGS PLC

('Trakm8' or the 'Group')

LexisNexis Risk Solutions Awards Trakm8 Telematics Contract

Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, is pleased to announce that it has been awarded an initial three-year contract by LexisNexis Risk Solutions, a leading data and analytics provider for the insurance and automotive markets.

The contract is for launch in the UK in the current financial year.  Trakm8 will provide its latest generation 'plug in' and 'fitted to' vehicle hardware. Data supplied is based on the Trakm8connectedcare solution to monitor driver behaviour.

John Watkins, Executive Chairman of Trakm8, commented: "We are delighted to have LexisNexis Risk Solutions as a customer for Trakm8's insurance telematics solutions. We have been providing telematics to insurance companies for some years, but LexisNexis Risk Solutions is one of the pioneers in this market.

"This contract is expected to be a significant one and provides additional visibility for our expectations for our revenues in the second half of the year."

Keith Binley, Managing Director of LexisNexis Risk Solutions, Insurance, UK and Ireland, said: "LexisNexis Risk Solutions provides risk insights to the insurance and automotive markets to help our customers inform their decisions and engage consumers.  Our focus is on delivering new driving analytics that provide our insurance customers with better consumer price segmentation and risk management using near-real-time driving data.  We look forward to building a strong partnership with Trakm8 to help bring the benefits of usage-based insurance (UBI) to millions of drivers and make it simple for insurers to launch or develop mass-market UBI products."

- Ends -

For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: [phone]
Jon Furber, Finance Director	www.trakm8.com
Arden Partners plc (Nominated Adviser & Broker)	Tel: [phone]
Paul Shackleton / Alex Penney	www.arden-partners.com

Media enquiries:

Buchanan
Chris Lane / Tilly Abraham	Tel: [phone]
[e-mail]	www.buchanan.uk.com

About Trakm8

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 250,000 connections.

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

About LexisNexis Risk Solutions

LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX Group (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. RELX is a FTSE 100 company and is based in London. For more information, please visit www.risk.lexisnexis.com and www.relx.com.

 

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