Ticker launched five years ago and set out to become the leading provider of connected insurance. The founding team were behind the introduction of telematics insurance back in 2010.
The entire business is built on a foundation of machine learning and AI – including some of the most advanced tools for detecting fraud. But most impressive is the approach to underwriting, with a loss ratio in the mid-40s.
The business currently writes over £100m of premium and is forecasting to reach £200m by 2027. This year, Ticker reached profitability, making it one of the first insurtechs to reach this position. All of this has been achieved with £25m of investment.
Ticker’s approach to the market is to build connected products for specific segments, and today has products for novice drivers, low-mileage drivers, drivers with convictions and van drivers.
The business’s most recent launch is a connected product designed for drivers over 65. Early signs are very good and showing that older drivers are willing to share how they drive in return for attractive premiums.
The team behind Ticker includes some of the biggest names in the industry, with decades of motor insurance expertise. The business has won multiple awards for its technology, performance and people wellbeing, and prides itself on having an ‘Excellent’ rating on Trustpilot.