The first contract will see the UK-based big data, telematics and fleet management specialist supply telematics devices with uniquely developed software to Allianz's Global Telematics business. A launch order of 5,000 devices has already been placed for Allianz Insurance telematics in China.

Trakm8 will provide its latest fifth-generation T10 Micro telematics device, which provides GPS data alongside driver behaviour monitoring and information surrounding vehicle health.

The device is initially being manufactured in the group's manufacturing facility in the West Midlands in the UK – however it is anticipated that manufacturing in Asia will take place as demand increases.

The second contract win will see the development of specific software to meet the requirements of Allianz.

John Watkins, executive chairman of Trakm8, commented: ”We are delighted to add Allianz as a customer for Trakm8's insurance telematics solutions. We have been providing telematics to insurance companies for just over two years and Allianz is the first major customer for our next generation T10 Micro product. Through the use of Trakm8 telematics solutions, our current customers have been able to provide policyholders with discounts of up to 40% on insurance premiums.”