ThingCo

Next-generation telematics hardware and software for the motor insurance industry

Data & Analytics Growth Series A

Overview

ThingCo is a telematics data platform and hardware provider for P&C carriers, brokers, and MGAs in the motor insurance market. The company supplies connected devices and cloud software that collect and process second-by-second driving data to support underwriting, claims management, and policyholder engagement.

The company's primary product is the Theo device, a self-installing, solar-powered telematics unit that operates without a mobile phone and processes data via ORBIT, a cloud-hosted IoT engine built on AWS serverless infrastructure. The platform delivers driving data in near real-time and integrates with white-labeled management and consumer-facing mobile applications. A next-generation consumer product, TheoPro, is under development and will add HD camera capability and ADAS features.

ThingCo has collected over 4.8 billion data points across 14 insurance partners. The company raised GBP 5M across two rounds, including a GBP 2M extension from BHL (UK) Holdings in July 2025. Founded in January 2018 by Mike Brockman, former CEO of Insurethebox, ThingCo has been recognized in the InsurTech 100 for four consecutive years.

Products & Services

Theo Device

A self-installing, solar-powered telematics hardware unit for motor insurance programs. The device operates independently of a mobile phone, includes a worldwide roaming SIM, and uses a 208 Hz accelerometer with crash detection capability. Amazon Alexa integration enables real-time voice feedback for drivers. Installation takes under 60 seconds.

Key Features

Solar-powered with no battery drain
Second-by-second data collection at 1 Hz frequency
Crash detection with high-g-force measurement capability
Amazon Alexa integration for in-car voice engagement
Tamperproof and transferable between vehicles
No mobile phone required

Target Users: Carriers, brokers, and MGAs deploying usage-based or telematics motor insurance programs

ORBIT Telematics Platform

A cloud-hosted IoT database engine built on AWS serverless infrastructure that processes driving data from connected devices in near real-time. The platform supports billions of records with sub-second end-to-end performance and integrates via secure REST APIs.

Key Features

AWS IoT serverless architecture
Sub-second performance at scale regardless of data volume
Fully encrypted with secure API integrations
Real-time risk data delivery
Scales globally

Target Users: Insurance carriers and program administrators

Management Portal

A white-labeled interface for insurance partners to monitor policyholder driving behavior and manage claims workflows.

Key Features

Crash algorithm distinguishing real vs. false events
Real-time accident alerts with FNOL automation (crash location, G-forces, liability assessment, pre-crash sequence)
Fraud detection via cross-referencing customer statements against telematics data
Third-party capture support
Customized reporting and risk identification

Target Users: Claims teams, underwriters, and insurance operations staff at carriers and brokers

Customer App

A white-labeled mobile application for end consumers enrolled in telematics insurance programs.

Key Features

Personalized driving scores and journey mapping
Event tracking and behavioral adaptation tools
Driver intervention management
Customer incentive programs

Target Users: Policyholders on telematics motor insurance programs

TheoPro (Upcoming)

A next-generation consumer telematics product featuring HD camera, ADAS (Advanced Driver Assistance Systems), and road blackspot warnings.

Target Users: Carriers and brokers requiring advanced driver monitoring capabilities

At a Glance

Founded: 2018
Headquarters: London, England, United Kingdom
Employees: 11-50
Funding: Series A

Category & Focus

Category: Data & Analytics
Subcategories: Telematics Claims Technology Customer Engagement
Insurance Verticals: P&C Personal Specialty/E&S
Target Customers: Carriers, Brokers, MGAs/MGUs

Customers

Acorn Group -- UK non-standard motor insurance provider; three-year contract renewed 2025 supporting Acorn and Carrot brands
Insenture Underwriting -- powers the "fayre" specialist insurance product for the private hire taxi market
PolicyWise -- telematics integration partner (2020)