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Tracker finding ways to cut insurance premiums

Date: 16 February 2009   |   Author: Tom Webster

Telematics company Tracker is working to bring down the cost of motoring insurance premiums for fleets, according to managing director Bill Raynal.

Tracker already has a tie-in with Direct Line, which offers a £200 discount on their stolen vehicle recovery system for individuals ordered to take out a mandated insurance policy.

Fleet managers could benefit from the same deal, with Raynal saying the company is "looking at the same for business customers".

This could happen as soon as the end of March this year.

As Direct Line and Tracker are both owned by RBS, Raynal says there are currently no plans to share the discounting scheme with other insurers. However, he said the company could consider it in the future if it was a case of beating competition in the tracking market.

Raynal also claims the current financial situation may be no bad thing for Tracker.

"Businesses are looking to control costs and ours is a product that helps them," he said.

He claims the future for the company is not in chasing the new car market: "Everyone is looking at new cars; we want to look at the other 25m cars already on the road."

However, Raynal believes the future of tracking lies away from the vehicle altogether, with technology being integrated with hand-held devices such as PDAs.