Connected insurance service provider
FairConnect is a leading provider of connected insurance services based on best-in-class Internet of Things (“IoT”) technologies, including data analytics, machine learning and the deployment of IoT devices. The company is headquartered and based in Switzerland, with significant operations in Teramo, Italy. FairConnect established itself as a sizeable telematics market player, serving more than 200,000 subscribers from some of the largest connected insurance providers operations in Europe.
Palamon has a long-standing investment thesis within the data and analytics space, seeking businesses that generate productivity and efficiency gains through the capture, interpretation and management of data. The connected insurance sector is undergoing rapid growth as insurance companies employ data feeds to drive operational efficiency, increase revenues and enhance customer experience. Palamon believes that FairConnect is well-positioned to rapidly scale in this market through organic growth and M&A, capitalising on strong existing contracts and leveraging its unique expertise in telematics.