Telematics insurtech ThingCo has renewed its collaboration with the Acorn Group, signing a new three-year agreement to bolster the group’s non-standard motor insurance offerings across the UK.
The expanded partnership will continue to support Acorn’s core brands, including Acorn Insurance and Carrot, as well as other operations under the Motorcade, Flag, Rapid, and Briefly banners. Acorn Group distributes its products through a network of over 200 brokers.
According to Daniel Ward, Head of Telematics at Acorn Group, leveraging advanced insights into driver behaviour remains critical for improving claims performance and risk management.
The extension comes amid shifting dynamics in the non-standard insurance sector. A recent industry survey revealed that 79% of UK brokers have seen a rise in enquiries for non-standard motor coverage. However, broker confidence in the market’s capacity to meet these needs has declined, highlighting a gap that innovative technologies like telematics may help address.
The growing maturity of telematics technology has also influenced the renewed partnership. ThingCo CEO Mike Brockman has highlighted recent advances in sensor capabilities, data processing, and connectivity, which are enabling wider adoption of telematics across personal lines insurance.
Acorn Group continues to show strong financial performance, reporting a 41% year-on-year increase in gross written premium (GWP) in 2024, bringing the total to £742 million. The firm also maintained a combined operating ratio below 90%, underscoring its commitment to underwriting discipline and operational efficiency.
