16 January 2018Insurance

Insurethebox founder launches new insurtech venture

Mike Brockman, the founding member of insurethebox has launched a new insurtech venture in London.

ThingCo will be leveraging data from the Internet of Things to bring to market the next generation of telematics technology.

The first phase of development will see the launch of a retro-fitted telematics device that will effectively make vehicles smart, according to a Jan. 16 press release. The device will incorporate capabilities including a high definition camera with night-time vision and sensors. As well as improving driver safety, the device will support all elements of the claims supply chain.

Brockman said: “This is the start of an exciting new chapter after 9 years at insurethebox. ThingCo will facilitate the fast development of new ideas giving me greater flexibility to achieve my ambitions and goals in the telematics arena. We are in talks with a range of businesses from in and outside the insurance sector who understand the wider potential of telematics, the Internet of Things and AI and are keen to invest in this new business and work with us.”

Brockman left insurethebox as part of the MS&AD Group’s agreement to purchase the remaining shares in Box Innovation Group, which includes the brands insurethebox and DriveLikeAGirl.

Brockman said: “I have left insurethebox in fantastic shape and with great prospects for the future. I am leaving with the blessing of ANDIE and we are now entering discussions on how Aioi Japan can invest in this new venture.

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More on this story

23 November 2016   Progressive insurers are quickly grasping the potential of telematics to both cut claim costs and get closer to their customers. But further innovation will require a partnership with manufacturers.
8 January 2018   London-based insurtech start-up Digital Fineprint (DFP) has raised $2.7 million in its second funding round led by Pentech Ventures, a UK-based software-focused venture capital firm.
16 January 2018   Aioi Nissay Dowa Insurance Europe (the ANDIE Group), a unit of Tokyo-based MS&AD Group, plans to purchase the remaining 24.99 percent of shares of Box Innovation Group (BIGL), which includes the brands insurethebox and drive like a girl.