New insurtech company ThingCo has entered into a partnership with Chinese insurer Tk.cn Insurance to enable millions of motorists in China to benefit from the risk reduction and claims support offered by telematics.
Tk.cn Insurance is part of Taikang Insurance Group, which has served more than 225 million individuals and is among the Fortune Global 500.
ThingCo is working closely with Sam Radwan and his team at consultancy Enhance International in China, to provide local knowledge and support.
Mike Brockman, founder and CEO of ThingCo, said: “To have signed an agreement for this strategic partnership just nine months from launch, whilst also working on our consumer and business propositions in the UK really demonstrates the pace we’re moving at.”
“One of our objectives from the start was to tap into the opportunities offered by China and we are very pleased to be establishing a partnership with a forward thinking company like Tk.cn Insurance to help them become a leading player in the Chinese car insurance market.”
Daren Wang, CEO of Tk.cn Insurance, commented: “ThingCo is a perfect partner for Tk.cn Insurance. ThingCo’s world leading knowledge, experience and expertise in the practical application of telematics combined with our online capability and commitment to grow, will help to ensure Tk.cn Insurance achieves its goals fast.”