Little Theo & Big Theo
ThingCo has launched Little Theo, a solar-powered, self-installed telematics device. The device sticks to the windscreen of the vehicle and can run for 50,000km per year before needing to be recharged, and it incorporates crash detection and intelligent voice to be able to support customers after a collision and during a claim. Last, data, trips, and scores are available via the Theo App.
“Little Theo is little brother to Big Theo which is our direct to consumer proposition. It’s our solution to the costs associated with black boxes and the data quality, battery and safety issues associated with smartphone telematics apps. To keep costs down for insurers, the device is self-installed and we have focused on the services that will make a fundamental difference to customers and to their insurers. Little Theo will detect when a collision occurs and will speak to the driver to check they are OK and if necessary contact emergency services. Our smart FNOL service will then use the telematics data to establish the circumstances of the accident and guide the customer through the claims process. Insurers are simply not geared up to offer this level of service. We will use delegated claims authority to support the customer and speed the claim to its conclusion, working for both the customer and the insurer. Our serverless telematics platform is world class, ensuring we can deal with the peaks and troughs in demand with driver scoring part and parcel of the package we are offering insurers. We’re also in discussions with insurers to join our panel for ‘Big’ Theo.” – Mike Brockman, CEO of ThingCo.
Bottom Line: The device is currently being tested with a number of motor insurers.