Launched in 2012, Carrot Insurance specialized in "black box" telematics insurance primarily for young drivers in the United Kingdom. Its model was based on an app and an in-car device that monitored driving style, rewarding safer drivers with points (called "carrots") that could be exchanged for high-street vouchers and other rewards. The company aimed to make driving safer and more affordable for new drivers. Carrot Insurance was acquired by telematics technology company Trakm8, which subsequently decided to cease writing new policies and renewals for the Carrot brand in late 2021. The company now only serves existing policyholders through the remainder of their terms.

Founded in

United Kingdom