Contract Award

RNS Number : 4198R

Trakm8 Holdings PLC

06 July 2022

 

Reach - non-regulatory announcement

6 July 2022

 Trakm8 Holdings plc

('Trakm8' or the 'Company')

Contract Award

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider, is pleased to announce that it has been awarded a contract with Love Your Miles to provide devices, a custom app and platform services for Love Your Miles' insurance propositions.

This contract is expected to commence writing insurance policies in July 2022.

Stuart Whalley, Managing Director of Love Your Miles, commented "We are delighted to partner with TrakM8 for the launch of Love Your Miles.  We are a digital, InsureTech start-up and in Trakm8 we believe we have a partner that aligns perfectly with our focus to provide simple usage-based insurance solutions to customers.  We look forward to working more closely with John and the wider team and thank them for their work to date.

John Watkins, Executive Chairman of Trakm8, commented : "We are delighted to be working with Love Your Miles as they launch their mileage-based telematics insurance products."

- Ends -

For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: [phone]
Jon Edwards, Chief Financial Officer	www.trakm8.com
Allenby Capital Limited (Nominated Adviser & Broker)	Tel: [phone]
David Hart/Liz Kirchner, Corporate Finance Tony Quirke, Sales and Corporate Broking	www.allenbycapital.com

Notes to Editors

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group uses AI data analytics collected from 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 analytics and reporting portal (Trakm8 Insight), integrated telematics/cameras/optimisation, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 264,000 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, GSF, Direct Line Group, Ticker and Ingenie.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005. Trakm8 is also recognised with the LSE Green Economy Mark

www.trakm8.com / @Trakm8

About Reach announcements

This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

 

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