ITC DIA Europe

FloowFusion: Enabling the Connected Future of Motor Insurance

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Sep 5, 2023

Historically, telematics policies were about users getting some discount up front, and insurers getting the benefit of positive selection and safe drivers opting into the program. But unfortunately, nothing really smart happened with the data.

The world of mobility is changing rapidly though, with mobile experiences getting more popular and predictive analytics making it possible to accurately predict risks and increase customer engagement and safety. In most developed markets today, 90% of all new cars sold are connected. Lots of data sets are available from vehicles, which have the potential to deliver real value to insurers, when combined with the right analytical capabilities. 

The Floow provides a Connected Motor Insurance product, FloowFusion, combining their FloowDrive mobile app, with additional OEM data. In addition, the FloowCampaigns platform provides highly targeted messages to be delivered to users (via in-app notifications, SMS and email) to increase user engagement, “nudge” safe user-driving behaviours, and optimize claims processes. With these products, The Floow aims to make mobility safer and smarter for everyone.

How it works

The FloowFusion solution fuses together data captured from the FloowDrive mobile app, and data collected from the user’s vehicle. The phone collects the customer’s journeys and their behavioural datasets: how fast they drive, the level of aggressive driving, the time of day, and of course, how much the customer uses their phone while driving. The Floow also adds data from the car: the odometer, the vehicle location, fuel level, EV battery level and tire pressure, widely available from nearly every manufacturer. With some manufacturers, the Floow can go even deeper and collect things like weather data, the number of occupants in the vehicle and so on.

The app FloowDrive is offered using the client’s own branding and look and feel. It automatically records journeys driven by the user, providing highly predictive driving behaviour scores, enabling the insurer to price the policyholder’s risk more accurately than ever before. At some of The Floow’s clients, the worst 10% of drivers have six times higher claims frequency than the best 10% of drivers. FloowFusion adds OEM data collected directly from the vehicle, providing an accurate exposure measure from the vehicle’s odometer, along with a new range of vehicle datasets which provides the potential for many more valuable risk insights. The FloowDrive app also detects crashes, notifying the insurer in near real-time, thereby optimizing claims processes. Users can accrue points for awards and can use those points to earn vouchers for free coffee or Amazon, for example.

FloowCampaigns is a hyper-personalised dedicated campaign management system that extracts value from a connected motor policy. Users are nudged to improve their driving behaviour. The system intervenes with high-risk drivers and automates claims. Consistency of nudging is important, otherwise, users will get unengaged with their score after a few weeks.

Why we selected The Floow for ITC DIA Europe?

With The Floow, it is easy to connect the car and the app with predictive scores and accurate measures of exposure directly from the vehicle. It is easy to run campaigns with compelling messages to extract value from connected motor policies, as well as taking control of claims and steering them quickly and smoothly through the insurer’s network.

At ITC DIA Europe in Barcelona, Matthew Chalk, Sales Director EMEA at The Floow, took the stage to present a demo of FloowFusion and FloowCampaigns. For this presentation, they won an ITC DIAmond award for most strategic impact!

Who is The Floow?

The Floow was founded in 2012 by Aldo Monteforte, CEO, and Dr. Sam Chapman, CIO. The founders saw the opportunity to change the telematics industry by making use of data and social sciences to change driver behaviour and lower risks on the road.

For the last ten years, The Floow has been providing connected motor solutions to leading insurers around the world. Offering the latest technologies and solutions to clients such as Progressive and AAA (US), Aviva (UK), Ergo (Germany) etc.

The Floow has offices in the UK and US and is now part of Otonomo, the market-leading proprietary platform for vehicle and automotive data services.

 Aldo Monteforte, CEO and Founder of The Floow
Munich 22-23 November

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