The Floow, the leading telematics firm chosen to accompany the Prime Minister on his trade mission to Asia, has announced that it has identified a number of potential business opportunities in each of the four South East Asian countries visited during the trip which took place last week.
The company’s CEO Aldo Monteforte joined Prime Minister David Cameron, four Ministers and 30 other hand picked delegates on the business tour across four countries in the South East of the region – visiting Indonesia, Singapore, Vietnam and Malaysia.
The visit saw The Floow’s founder meet with dozens of government officials and business leaders including financial services regulators and insurers promoting the firm’s expertise, and the societal benefits of its telematics platform; specifically in the financial technology sector.
Identified as a world-leading hub for telematics data management, The Floow is an independent company operating without geographical boundaries from its base in Sheffield; currently supporting major global Insurers – including Direct Line Group, RSA, AIG, and AAA – through device-agnostic predictive analytics and digital end-user services that increase customer loyalty.
The business has also built a reputation for excellence in the multi-faceted use of telematics data; for example, working in partnership with the University of Sheffield, and in coordination with the European Space Agency, to provide insights into air pollution in South Yorkshire.
The announcement follows further progress for the company in China where they are in the process of incorporating a wholly owned subsidiary and in advanced discussions with a leading potential partner – working closely with UK Trade and Investment (UKTI) which has been an invaluable partner in helping to develop The Floow’s reputation and business presence internationally.
Aldo Monteforte said: “The trip was a fantastic opportunity for The Floow; doors were opened for trade opportunities and relationships established. We engaged with leaders who provided deep insights on the current climate in South East Asia and how we can work together.
“The countries we visited can and will bypass technological generations and embrace state of the art products and services of the kind we enable at The Floow. They have the appetite to adopt telematics and have the unbounded energy of large, young populations. They represent ideal markets for the global, advanced technologies we develop in Sheffield, which is becoming the global centre of excellence for telematics data mining and management.”
Speaking on the tour Prime Minister David Cameron said: “Companies like The Floow are flying the flag and unlocking the economic potential of the fast growing economies of South East Asia for Yorkshire. I am delighted that they have joined me on my first trade mission of this government and I hope that we can work together to create jobs and growth for the UK.”
Mark Robson, Regional Director for UK Trade and Investment Yorkshire and The Humber, said: “I am delighted to hear about The Floow’s involvement with Prime Minister David Cameron’s trade mission to SE Asia.
“Taking innovative technology developed in Yorkshire and exporting it worldwide is fundamental to our economic growth, and The Floow’s unique telematics architecture and science have quite rightly generated significant interest.
“SE Asia represents a huge opportunity for Yorkshire and Humber companies. Exports to Indonesia, Singapore, Vietnam and Malaysia totalled £290m in 2014 and with the new initiatives announced by the Prime Minister, this looks set to increase.
“The Northern Powerhouse initiative will make The Floow’s experience a reality for more companies, by delivering a range of inward and outward high profile trade missions, to put the North and all it has to offer firmly on the map. We hope other innovative exporters follow in The Floow’s footsteps and take their products and services to new international markets.”
Success for The Floow – based in Sheffield – comes as the government announced that the total number of exports for Yorkshire and the Humber were worth more than £4.22 billion for the first quarter of 2015 (April-June); with the region well on the way to supporting the Government’s efforts to increase the UK exports to £1 trillion a year.
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