Our founder and CEO, Richard King, recently caught up with Alex Bond of The Leadership in Insurance Podcast to discuss Ticker, connected insurance, and what the future holds.
Listen to the podcast or get the highlights below.
“Ticker is all about connected insurance; we’re a motor insurer but lift up the lid and we’re a data company. We offer new driver and van driver products, with a pay-per-mile product and convicted driver offering coming very soon. And we’ve got plenty in the pipeline for next year too, including EV, new to UK and older driver.”
“The success of insurtechs is down to data and how we use that at every stage of the customer journey. Data scientists are now key people among underwriters and price analysts, and machine learning and AI are also vital to that success.”
“The customer will choose you because you’re cheaper, but then you can achieve much more engagement than typical insurance. It’s a two-way engagement; with a behaviour-based product, you’re giving weekly feedback and incentive to drive better. For low mileage, the customer wants to see accurate miles reflected in the app.”
“We set ourselves an aggressive goal to achieve underwriting profits within our first three years and we’re on track to achieve that. Our core fundamentals are vital to sustainable growth and profitability: underwriting, claims, compliance and a forensic focus on loss ratio.”
Ticker founder and CEO