THE LIFE-SAV­ING TECH­NOL­OGY BORN IN THE NORTH WEST

Manchester Evening News - - PUZZLES & STARS -

Trak Global makes the black boxes that help in­sur­ance companies un­der­stand the driv­ing habits of their cus­tomers in or­der to bring down pre­mi­ums.

“We’re the UK’s big­gest black box com­pany with around 25pc market share,” says co-founder Nick Cor­rie.

But that’s not all. Be­cause Trak Global’s tech­nol­ogy re­wards safer drivers, it is ac­tively re­duc­ing the num­ber of ac­ci­dents on the road.

“Plenty of busi­nesses have fast growth sto­ries, and use com­plex al­go­rithms, but we are mak­ing the world bet­ter,” says Cor­rie. “Fewer ac­ci­dents hap­pen.” Trak Global’s cus­tomers see the value in their propo­si­tion, and the busi­ness is set to grow 75pc this year.

The com­pany, which was founded in 2009, now op­er­ates in six coun­tries, and has its black boxes run­ning in more than 200,000 as­sets, gen­er­at­ing a turnover of £25m. It re­cently moved its tech­nol­ogy into a smart­phone app, which will ac­cel­er­ate up­take over the com­ing years.

Cor­rie has big am­bi­tions for the busi­ness: “I’m not con­tent with ‘that’ll do’,” he says. “I look at the Sil­i­con Val­ley en­trepreneurs and I see no rea­son why a busi­ness that hap­pens to be based in Cheshire couldn’t be the global cen­tre of this in­dus­try.”

To keep up to date with the Back­ing Busi­ness Am­bi­tion tour go to www.ldc.co.uk/bba2017

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