Enables IT Share Discussion Threads

[lucky punter] 17/6/2008 22:36

Stop being an idiot Pachnes. Sainsburys and about 50 other Cybit customers use the Telematics enabled fleet insurance product. Fool

[lucky punter] 17/6/2008 19:18

Pachnes
You know nothing about telematics.
1. NU never terminated its relationship with Cybit, you can get a Cybit/Nu fleet insurance product today if you want one as part of a cybit Telematics product.
2. The deal was exclusive, initially as a one year pilot (from the NU website)Initially, the full benefits of 'Fleet Telematics' will be available to those fleets using Cybit telematics systems. Norwich Union said it would be considering additional fleet telematics providers over time, but added that any future approver supplier technologies would need to meet the "required high standards".
3. Cybit took part in the deal to get a head start over the competition. Cybit do not provide telematics for other insurers, NU are the largest and highly competitive. Cybit are Europes largest supplier of telematics enabled fleet insurance.
4. Again NU has never terminated its relationship with Cybit, NU were tied down to Cyh during the pilot as Cyh had produced the product.
I do not need homework as vehicle crime, security and tracking technology is my job.

[pachnes] 17/6/2008 09:49

LP; you do spout some rubbish. 1. NU terminated its relationship with Cybit in 2007. 2. The deal was never exclusive. 3. If the deal was "designed to give Cybit a headstart", which other insurers has Cybit been able to form a relationship with as a result. 4. "NU would never be tied down to one player"; since terminating its relationship with Cybit, NU has entered in to an exclusive relationship for the supply of its fleet telematics product with Italy's Meta Systems. Please do your homework.

[lucky punter] 17/6/2008 07:13

Pachnes
It has not. Cybit and Nu had a exclusive deal for two years, as announced at the time. It was designed to give Cybit a headstart only. The commercial application is much more demanding with many more players, Nu would never of been tied down to one player in the market. The NU insurance product is a beespoke system dependant on the needs of the customer. The platform designed by Nu and Cybit can work with almost any telematics system thanks to Cybits open platform technology. In reality there are only a handful of providers as it has not proved that popular. Cybit have about 50 customers and 3000 units on this NU/CYH product.

[pachnes] 16/6/2008 14:05

LP; NU has withdrawn its PAYD consumer telematics product, not its commercial vehicle product - a critical distinction. If Cybit's offering is what you say it is, why did NU dump Cybit as their commercial product supplier in favour of Meta Systems?

[lucky punter] 15/6/2008 22:47

Its interesting that Eagle eye are embarking on a telematics insurance partnership just at NU end theirs as it was not popular.
Its an odd staement from Mike ASKEW where he states that he was convinced of the benefits of deploying telematics into fleets and that in five year's time he expected telematics systems to be standard equipment on many vehicles.
If he expects it to be standard fit then why is he getting a retro fit system. The IVU is just about standard across the market and highly developed companies like cybit have developed an open platform to use data from any IVU. It makes it very easy to take on acquisitions and asymulate them overnight.

[pedr01] 14/6/2008 02:13

Friday 13th ... Ominous ... hahahahha ...

Seriously, good luck to all holders. We are all trying to improve our lot.

[pachnes] 13/6/2008 22:53

Interesting article from Insurance Age and Post Magazine, the two leading UK insurance industry media:

Breaking News Friday 13th June 2008: 11:11

CBG Group announces new partnership

CBG Group and integrated telematics service provider, Eagle-i Telematics, have announced a strategic partnership aimed at promoting the benefits of Eagle-i's award winning Monitor3 telematics system to CBG's fleet and corporate customers.


The partnership has already registered its first success with north west-based point-of-sale equipment installation and sales operation, CJ Services, which runs a fleet of 85 vehicles.

CJ Services has implemented Eagle-i's Monitor3 telematics system in all its vehicles as a condition of new two-year preferential fleet insurance policy with CBG, which recognises the use of Monitor3 as an effective ongoing fleet risk management tool.

Both CJ Services and CBG say they expect to see major financial benefits over the life of the two year insurance deal, not least in lower accident rates and reduced repair costs, which should ultimately translate to lower premiums.

Manchester-based CBG has in excess of 1,000 fleets of all sizes on its books. Areas of impact include lower fuel costs and carbon emissions, improved operational efficiency and more effective fleet risk management, leading to reduced accidents rates and continuous awareness of driving standards.

CBG Group managing director, Mike Askew, said that he was convinced of the benefits of deploying telematics into fleets and that in five year's time he expected telematics systems to be standard equipment on many vehicles.

"We believe in the full wrap-around effect of telematics for fleet operators, including improved risk management, driver awareness and reduced accident rates and costs, along with assisting with obligations for managing work related road safety.

"We did our homework and believe the latest Eagle-i Monitor3 system is the best on the market. We are now actively promoting the system to our fleet customers and believe several hundred will be able to derive direct benefits. We also see this as a major incentive for prospective new clients.

"Given a successful outcome to our work with CJ Services, we believe we will be able to offer not only premium reductions but also assistance with the installation costs for those of our customers who opt to go down the telematics route," he said.

[lucky punter] 03/6/2008 16:29

With a couple of holders already in for millions I guess them spending a few grand more to ramp the price up is not an issue but for what purpose, the couple of thousand units that the company have in the market can not be worth even half the debt and the current holders can not sell or the price would crash. All very odd, this is not a real listed company anymore and it should really move to private ownership with so few shares in the public domain.

[sdavis] 03/6/2008 08:33

My view..... EIT being prepared for takeover, hence the tidying up of the balance sheet. May even be worth buying for the technology, but not for the current customer base. So £2k for 50,000 may not be a bad punt. Downside is that if something does not happen, down goes the share price in very quick time.

[cheshiremoggie] 02/6/2008 23:16

Does anyone know how many customers this company has or how many vehicles under contract?

The results do not seem to mention any figures for these and all the other listed telematics firms at least give you some idea.

CM.

[roofer2] 02/6/2008 18:50

Typical, why is it the Cybit gang of rampers carnt be happy for anyone to make money from any tracking company? (spiteful)

That idiot L/P, supposed to be on holiday (yehyeh) an he still manages to ramp Cybit, an how much has CYH share price moved mmm down again to a new year low, thats 3year on the trot now.

Im not a holder of EIT but Good luck to everyone that is, hope make a few ££.

[8trader] 02/6/2008 18:47

I would'nt be surprised if the big sellers today were the earlier 50k
buyers, buy smaller amounts to push up the price so they can offload
larger amounts even at a discount.

If not the market still attracts some completely useless traders/investors
who will throw over 2 grand into a awful stock at 5.5p when the board has
converted multiple millions of loans into shares at 2p just on Friday.

[cheshiremoggie] 02/6/2008 09:45

Wow - the directors will own 96% of the equity.

Makes you wonder why they bother with keeping the last 4%?

CM.

[8trader] 02/6/2008 09:00

Must be some real idiots out there especially the one who paid
5.5p for 50k !

The most overvalued stock around.

[hyper al] 02/6/2008 08:52

pachnes

Thanks.

Don't hold any of these, but have done in the past and followed for years, gained and lost with EIT, so basicly broke even.

I still think EIT have a chance. They are still here and the business keeps fighting on, this type of persistence is often rewarded in the end

[garykc] 02/6/2008 08:47

Looks like the markets agree!!!!

[pachnes] 02/6/2008 08:32

Hyper Al; the awards were presented at The RAC Club on 12 May. I understand the main coverage will be in FleetWorld's June edition.

Pedr01; not sure where you are coming from with the Mugabe analogy. In my view, the directors have just managed to wipe £2.5m of debt from the balance sheet.