11 May 2015
Telematics specialist Risk Technology has appointed Paul Bandell and Steve Eastwell to its board of directors to support the company’s international growth strategy. Risk Technology delivers next generation telematics solutions to the insurance, fleet and retail industries helping them to reduce costs, improve customer service and develop new revenue streams. The company has an exclusive partnership with RAC in the UK.
According to research from SBD and the GSMA the global connected car market will be worth €39 billion in 2018, up from €13 billion in 2012. UK headquartered Risk Technology aims to have six million connected vehicles by 2020, equating to approximately 8% of the global market.
Risk Technology provides innovative, low cost, vehicle activity monitoring solutions for B2B and B2C clients. Its services include crash detection, remote diagnostics, fleet and lease management, insurance, driver behaviour, vehicle warranty management, fuel savings and emission management.
As international business director, Paul Bandell brings extensive experience of building a worldwide customer base, having previously served as director and non-executive director of multiple high tech companies including ITIS Holdings and BT. He has helped to develop multi-million pound turnover businesses worldwide, setting up joint venture companies and implementing global alliance and partnership strategies. Paul will focus primarily on strengthening the company’s presence in target markets including European, south east Asia, the Americas, Russia and China.
Steve Eastwell is a former director of Trakm8 and Fleetmatics and has held roles within the telematics industry for over 15 years. He originally joined Risk Technology as chief operations director and is focused on building partnerships for the company across Europe.
“Paul and Steve are a crucial addition to the board and are instrumental in our plans for growing Risk’s international presence”, said Mark Packman, chief executive officer of Risk Technology. “We’re currently working with major international brands to seize the opportunities being created by next generation telematics and are excited about the potential to roll our solutions out across new territories.”