Trakm8 Holdings PLC Contract Announcement (6934E)
February 12 2015 - 2:01AM
UK Regulatory
TIDMTRAK
RNS Number : 6934E
Trakm8 Holdings PLC
12 February 2015
12 February 2015
TRAKM8 HOLDINGS PLC
("Trakm8" or the "Group")
Marmalade signs partnership with Trakm8
Trakm8, the AIM-listed telematics and data provider to the
global market place,is pleased to announce it has been awarded a
contract by Marmalade, the specialist provider of cars and
insurance for young drivers. The initial contract order is valued
at GBP1 million which will be realised within the next financial
year.
Established in 2006 and with over 50,000 customers, Marmalade
will be provided with Trakm8's recently launched T10 hardware as
well as its telematics data services. The contract will support
Marmalade's New Driver Insurance product, a telematics-based
insurance scheme for young drivers aged between 17 and 25. New
Driver Insurance is also used for Marmalade's Fuel & Go, a
scheme that offers young drivers from the age of 17 a brand new car
with 12 months' free insurance from as little as GBP175 per
month.
This is another significant insurance company to choose Trakm8
for telematics devices and data services.
John Watkins, Executive Chairman of Trakm8 commented:
"We are delighted to have Marmalade as a new insurance customer.
To have another insurance company selecting Trakm8 as a telematics
partner is a validation of our insurance solution offering, and
reflects the extensive research and development programme Trakm8
have undertaken to be the best partner in the industry."
Nick Moger, Chairman of Marmalade commented:
"Following a thorough analysis of the possible suppliers, I am
confident we have created a platform to provide even better service
options for our customers using Trakm8's superior telematics
offering. We are particularly pleased as Trakm8 offers British
manufacturing facilities, which is an important factor for our
business as we gear up for further growth in the coming year."
-ends-
For further information please contact:
Trakm8 plc 01747 858444
John Watkins, Executive Chairman
James Hedges, Finance Director
MHP Communications 020 3128 8100
Reg Hoare / Vicky Watkins
finnCap 020 7220 0500
Ed Frisby / Christopher Raggett - corporate finance
Jo Weaving - corporate broking
About Trakm8
Trakm8, the M2M telematics company using Big Data analytics to
improve driver behaviour is a leading technology designer,
developer and manufacturer of telematics products and
solutions.
The Group, based in Shaftesbury, Dorset, distributes its
hardware and software through a network of distributors worldwide.
In addition the Group provides vehicle monitoring and tracking
services direct to the B2B market. Trakm8's IP owned products and
services allow vehicles and drivers to be monitored, allowing
organisations to manage deliveries and services, or track stolen
vehicles down to five metres.
Recently Trakm8 have developed the T10 product range, which
includes a self-installed telematics device. The Group's services
also include driver behaviour management solutions that can reduce
fuel consumption by 10% or more, reduce risk of accidents,
logistics routing & scheduling packages, and tachograph data
reporting. The Group's customers include Direct Line Group, Eon,
the AA, Fujitsu and Kubota.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
About Marmalade
Marmalade is the leading provider of car insurance and cars for
young drivers. Founded in 2006, it helps young drivers get behind
the wheel, keeps them safe, improves their driving skills and saves
money.
As a champion of young people, Marmalade provides a range of
products that specifically meet the needs of young people - and
their parents - today. These include:
-- Learner Insurance - is tailor-made for provisional drivers,
enabling them to drive a parent's car from as little as GBP2.05 per
day while protecting No Claims Bonus.
-- New Driver Insurance - Marmalade offers low insurance
premiums from the outset as we trust our customers to be safe and
responsible drivers. They are only penalised if they repeatedly
drive dangerously, potentially saving hundreds of pounds on
premiums. This policy is based on telematics technology - black
boxes are installed into the insured car to monitor journeys and to
ensure that young person is not driving dangerously. Our black
boxes don't have curfews but do provide added security in case of
an accident or vehicle theft.
-- Fuel & Go - Marmalade is the only UK insurance company to
offer free insurance for 17 year olds through its Fuel & Go
scheme. The scheme, which uses black box technology, enables young
people to buy a new car with free insurance for the first year for
a fixed monthly price.
www.wearemarmalade.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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