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RAC creates telematics joint venture with Quindell

07 Apr 2014 at 12:31

The RAC and leading insurance and telecoms technology business Quindell have today announced a joint venture creating a new business, Connected Car Solutions Limited, to distribute their world-leading telematics technology with an initial £30m investment.

The two businesses have worked closely on the development of state-of-the-art telematics technology and the new joint venture company will market and distribute this technology across the UK, Europe and Canada.

RAC chief executive Chris Woodhouse said: “We have created a joint venture business which will ensure that RAC telematics is at the fore of insurance and motoring innovation and a financial deal which will enable the RAC to give all of its members the benefits of state-of-the-art telematics technology.

“In so doing we believe that this will deliver substantial benefits to all drivers, but particularly to younger drivers, by allowing them to monitor and modify their own driving behaviours with a view to reducing their insurance premiums as a result.”

Quindell founder and executive chairman Rob Terry said: “We are delighted to be partnering such a respected brand as the RAC in such an exciting venture which has the potential to change the world of motoring and insurance for the benefit of millions of drivers.”

The RAC is UK’s most experienced breakdown provider and offers a comprehensive range of vehicle insurance and motoring products. It has led the development of advanced telematics in the UK developing the functionality and integration with new technologies to better serve members and make their motoring experience easier, safer and more affordable.

The creation of the joint venture follows a successful year of Quindell providing an outsourced RAC Accident Management service. Whilst the joint investment is called Connected Car Solutions, the business will trade as both Quindell Connected Car Solutions and RAC Connected Car Solutions. The Quindell brand will primarily be used for existing insurance relationships, and the RAC brand, which has been licensed to Connected Car Solutions, will be used primarily for fleet, and consumer relationships.

ENDS

Contacts:

If you are a journalist and would like further information, please contact:

RAC@ brayleino.co.uk / 0117 964 6664

Pete Williams – 01454 664123 / pete.williams@rac.co.uk

Note to Editors:

About RAC

With around seven million members, the RAC is one of the UK's most progressive motoring organisations, providing services for both private and business motorists. Whether it's roadside assistance, insurance, buying a used car, vehicle inspections and checks, legal services or up-to-the-minute traffic and travel information – the RAC offers a solution for all motoring needs. The RAC is committed to making motoring easier, safer, more affordable and more enjoyable for drivers and road users.

The RAC is the motorist’s champion and campaigns to support the interests of its members and UK motorists at a national level, including advancing levels of road safety, supporting the needs of young drivers and voicing concerns about the increasing cost of motoring. The RAC’s annual Report on Motoring survey, now in its 25th year, provides a clear insight into the concerns and issues facing today’s motorists.

For the very latest news on UK fuel prices visit our Fuel Prices Explained pages – www.rac.co.uk/advice/fuel-prices-explained. Here we detail the average UK price of petrol and diesel and give an indication of which way prices are likely to go – up or down – over the next couple of weeks based on the wholesale price. You can also discover more about the fuel industry, what affects UK fuel prices, how they compare those in Europe, how motorists are taxed and top-tips for better fuel economy.  

The RAC supports FairFuelUK campaigning for fairer taxes on petrol and diesel. Show support and find out more at www.fairfueluk.com.


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