This is just a short blog after some reading and a little bit more thinking about the future of Trakm8 and telematics. Firstly, after wading through several hundred posts on the Advfn Quindell thread, I did actually read one that was useful which was simply the link below:-
http://www.telematics.com/telematics-blog/telematics-stay/
Whilst there is no mention of Trakm8 (Trakm8's clients now include Direct Line, Eon, St Gobain, the AA and Fujitsu), it does imply that telematics is at a key juncture which tallies with John Watkins' (Executive Chairman of Trakm8) outlook statement at the half-year where he states that a tipping point in mass market adoption of telematics appears to have been reached.
Bearing in mind Trakm8's Friday announcement of it's contract win with Direct Line as sole telematics supplier of self install devices, I then read Direct Line's recent trading statement which has this to say about its roll-out:-
"On 23 April 2014 the Group launched its self-install telematics proposition in the UK after a successful pilot. The Group believes this positions it as one of the leaders in developing the telematics market and enables it to offer telematics to a broader range of customers. Take-up remains strong in Direct Line new policies with one in five under 25 year olds electing for telematics."
No wonder John Watkins describes the partnership as a key milestone for Trakm8.
Even after Friday's share price rise, at 72p Trakm8 is still a minnow with a valuation of just less than £21m. With a short, medium and long term view I'm getting increasingly excited about Trakm8's prospects. Interestingly employees and others seem to share my enthusiasm and have been acquiring shares out of treasury with the last purchases at a price of 69.5p.
N.B. I don't have any interest in Quindell apart from its involvement in Telematics.
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