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The Floow Announces Enhanced FloowFleet Connected Insurance Platform

January 9, 2020 GMT

DETROIT--(BUSINESS WIRE)--Jan 9, 2020--

The Floow, one of the world’s leading telematics innovators, has released an enhanced off-the-shelf version of FloowFleet, a white-labeled Connected Insurance solution specially designed for managers of small fleets.

FloowFleet allows fleet managers to track their vehicles via an OBD or fitted device, and provides fleet managers, supervisors and drivers with real-time tracking data to monitor and promote safer driving in commercial fleets. Managers are able to provide drivers with feedback on their driving performance, and drivers have the opportunity to view insights into their driving behavior and identify areas of improvement or ways to drive safer.

New features in the update include:

“FloowFleet can significantly improve the loss ratio for commercial insurers, particularly those who provide coverage for fleets with 25 vehicles or less,” said Danny Maco, Senior Vice President and General Manager, Americas at The Floow.

“Smaller fleets can derive immediate benefit through insurance that provides key telematics features—without the need to invest in far more complex and costly telematics software. FloowFleet is specifically engineered to help smaller commercial lines benefit from a telematics solution that’s both cost-effective and easy to launch and scale,” Maco added.

FloowFleet provides fleet insights and trip data to the insurer via a detailed management portal. Insurers can also build their own scoring IP on top of The Floow’s proprietary FloowScore by analyzing the score against claims data to optimally predict claims. Individual driver scores can also be improved through The Floow’s feedback, coaching and training offerings, which have been proven to further lower claim rates.

“The Floow’s approach delivers three times the profitability per telematics customer versus traditional policy types,” Maco said. “We offer a comprehensive production-ready resource for insurers looking for more accurate underwriting capabilities, fewer claims and improved loss ratios.”

About The Floow

Based in Sheffield in the UK and Detroit in the U.S., The Floow’s mission is to make mobility safer and smarter for everyone. Its user-friendly telematics platform provides drivers with actionable insights and engagement propositions that improve safety and loyalty, and allow insurers, fleet companies and auto manufacturers to make more informed and profitable decisions. www.thefloow.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200109005717/en/

Jennifer Green, jgreen@burns-360.com, +1-214-521-8596

KEYWORD: UNITED STATES NORTH AMERICA MICHIGAN

INDUSTRY KEYWORD: TECHNOLOGY INSURANCE AUTOMOTIVE GENERAL AUTOMOTIVE TRANSPORT PROFESSIONAL SERVICES SOFTWARE DATA MANAGEMENT LOGISTICS/SUPPLY CHAIN MANAGEMENT FLEET MANAGEMENT

SOURCE: The Floow

Copyright Business Wire 2020.

PUB: 01/09/2020 12:23 PM/DISC: 01/09/2020 12:23 PM

http://www.businesswire.com/news/home/20200109005717/en