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.”