Research from BIBA, the British Insurance Brokers' Association, has shown that telematics based motor insurance sales have increased by 116,000 since June 2012 - a surge of 61% in just 18 months! Telematics technology works by recording a journey and analysing the drivers behaviour, for example rapid acceleration, severe braking and harsh cornering. Premiums can then be tailored and accurately calculated according that each individual driver, giving a more fair price.
The Decade of Action for Road Safety 2011-2020.Almost 1.3 million people are killed every year on the world's road whilst up to 50 million people are injured, and many remain disabled for life. Road traffic injuries are the number one cause of death for young people worldwide and the economic cost to developing countries is at least $100 billion a year. These statistics are shocking, but they are harsh facts and if we do nothing these numbers will continue to rise.
The average cost of comprehensive car insurance in the 4th quarter of 2013 was £644, the latest Confused.com Car Insurance Price Index (in association with Towers Watson) has found. That it a price drop of 12.5% year-on-year. According to researchers, the all-time high for car insurance was Q2 of 2011 and since then, the total fall now stands at £214 per policy. For third party, fire and theft cover only, average premiums for Q4 2013 came in at £1053, showing a year-on-year decrease of 7.5%.
Britain’s “biggest and best” car buying guide, What Car?, has revealed news regarding Direct Line’s new insurance policy. The newest launch is being described as a “‘pay how you drive’ telematics-based” insurance policy with the app being provided by us here at The Floow.
Supported by the Government’s Regional Growth Fund, Creative England launch a new Business Investment Fund of £1 million as it continues its programme of investment for creative and digital businesses in the English regions. Creative England are involved with companies (such as The Floow) looking to develop new software, applications and content across several expanding markets in order to boost the creative sector.
The Floow is one of the first companies in the creative and digital business sector to receive business investment funding from Creative England. This funding is set to help Small and Medium Enterprises in a variety of sectors all across the UK and is supported by the Government Regional Growth Fund.
Here in Sheffield, we are amongst the first companies to receive funding targeted at creative and digital businesses in England, with other companies covering areas such as Newcastle and Liverpool. The first fund has already helped develop pioneering projects as well as providing regions with a number of new jobs. The Business Investment Fund is available as interest free loans of between £60,000 and £100,000 with support being offered from the Government's Regional Growth Fund, which is the second such fund from Creative England.
We're relocating at the end of the month from our current headquarters at Aizelwood's Mill. OXO House has been renamed and transformed from what was once a storage and administration facility to a set of stunning new art deco offices. The owner of the building, Thorndale Ltd, was given permission by Premier Foods to have it renamed to "OXO House" after an extensive £1.5m refurbishment and redevelopment.
We're very excited about our move after securing the letting of the top floor of the renamed OXO House in Joiner Street, Sheffield. Relocating from Aizelwood’s Mill on Nursery Street, we are joining existing tenants Swanke Hayden Connell Architects who occupy the third floor and online brand communications specialist, Side by Side creative, who has space on the ground floor.
Direct Line plan to reduce costs and lift profits in an attempt to "regain competitive edge" and deliver a good standard of service and value to their customers. In August last year, the insurance company announced plans to reduce gross annual costs by ₤100 million a year but now say they intend to double this target. Paul Geddes, chief executive officer, said in the business update: "While we continue to invest in the business with the aim of winning in a market which is changing fast, it's clear that we need to become more efficient to deliver the good service and value our customers expect."