General Insurance Article - RAC joins up with Quindell for telematics

 The RAC and Quindell have announced a joint venture creating a new business, Connected Car Solutions Limited, to distribute their 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.”