The Floow launches into telematics market
By Mark Salisbury
Thursday, October 4, 2018 - 09:03
Leading telematics company The Floow enters into the world of commercial insurance fleet technology in a bid to reduce driver accident frequency and severity – catering for small fleets of up to twenty five vehicles.
At a time when global commercial insurance prices are rising – and controlling fixed costs is a top priority for businesses midst Brexit uncertainty – the introduction of FloowFleet allows businesses to manage fleet mobility more efficiently, to better manage risk and potentially reduce their insurance premiums.
FloowFleet will also contribute to improved road safety in the UK. RoSPA has estimated that up to 33% of road accidents are work-related, and in 2016 work-related crashes resulted in 529 deaths and 5,269 serious injuries. FloowFleet will help fleet managers to track individual driver performance: monitoring speed, the smoothness of driving, levels of fatigue and the time of day journeys take place.
Data from each journey is collated in real time and safely logged to create a personalised driver score. From this, business owners can track driving behaviour to better understand where drivers are performing well, or may need to improve their behaviour.
From recent international industry research conducted by the Floow, decision makers from more than 250 insurance companies believed telematics had a crucial role to make business drivers and consumers safer on the roads. More than two in five respondents (44%) said telematics would improve risk modelling, whilst 40% said driver awareness could be improved as well as reducing premiums (40%).
Aldo Monteforte, CEO of The Floow commented: “Technology is changing the face of motoring and redefining the business community’s relationship with mobility. Our telematics proposition for fleet managers will help them handle their business more efficiently, invest in employee safety on the roads and potentially reward better driving with lower insurance premiums.
“With six years experience shaping the telematics market, our new FloowFleet product provides a robust, reliable fleet telematics solution that’s quick-to-deploy and easy to use. It is estimated that around a third of fleet vehicles in the USA currently use telematics and we see its rise within the UK business community as inevitable. FloowFleet is supported by a strong product roadmap, and we have plans for multiple new features to launch in the coming year.”
Benefits of FloowFleet for the Fleet Manager
- Easy onboarding for fleets to get up and running quickly.
- A powerful scoring engine producing trip and vehicle level information that’s easy to understand.
- Scores presented via a robust management information portal that’s accessible via mobile devices, tablets or desktop.
- Geofence feature, helping fleet managers to monitor and protect their assets with event trigger notifications for each vehicle or the fleet.
- Access to additional driver improvement programmes offered optionally by the insurer e.g. driver coaching and rewards.
To book a demo for FloowFleet visit https://www.thefloow.com