Trak Global Group

Trak Global Group develops hardware & app-based telematics platforms for the usage-based insurance and fleet management markets, both in the UK and overseas. They offer product design through to data analytics, and provide both insurance and fleet & mobility solutions utilising IoT and Big Data. Trak Global Group has an employee headcount of around 300, and has a combined turnover in excess of $50m. In total, Trak Global Group has connected with over 500,000 vehicles.

Within Insurance, Trak Global Group offers insurance solutions within personal lines (UBI, learner) as well as commercial lines (commercial motor, automotive OEM, Gig Economy). For Fleet & Mobility, Trak provides solutions across rental and leasing, car clubs, corporate fleets, ride-hailing and car sharing. Its connected data platform, DriveSync, offers a wide range of connected vehicle applications, including learner driver coaching, distracted driver detection, vehicle prognostics, and dealership telematics, amongst others.

In addition to being an outsourcing partner, Trak Global also has its own branded propositions. Carrot Insurance, a UBI insurance for young drivers, was launched in 2012 and provides users with driving performance data via smart devices. Good driving behaviour can be exchanged for premium refunds of gifts. The second brand, Appy Fleet, is a fleet management tool developed by Trak Global Group. It launched in 2016, and is used across the UK, France and the USA. It is made up of a Manager Portal and a Driver App, and aims to reduce accident rates, and improve driver safety, costs and efficiency.

In 2018, Trak Global Group acquired Intelligent Mechatronic Systems Inc (IMS), a connected car solutions provider that provides technology and data analytics services to insurers, governments and more. It is the third largest insurance telematics business in North America, and has over 130 patents associated with connected car services.

In 2019, Three Hills Capital Partners acquired a 'significant' minority stake in Trak Global Group. The investment - reportedly over £40m - will be used to accelerate the development of new products and services via IMS' DriveSync 6 platform. It will also focus on rapid growth in North America, and consider further acquisition activity.

Trak Global also has its own innovation hub, Trak Labs, which supports its Group companies and incubates its own IP and partners with other companies. Its services include research, proposition development, product design, and more.