Trust: At the Core of our Ethos at The Floow

Our CEO Aldo Monteforte talking about the importance of trust at the Fosun China-Britain event last month

In a time of significant technological development and digital disruption, we know organisations are looking for partners that they can trust and at The Floow, we see trust as a vital part of building successful long-term partnerships with our clients.

At The Floow, we have always been transparent about why we do what we do: we’re driven by a mission to make mobility safer and smarter for everyone. The Floow’s way to achieve this objective is equipping modern insurers with tools that build trust with policyholders.

We see telematics as providing a unique opportunity to deliver innovative data-driven services benefitting from the unprecedented proliferation of sensors and the vast amounts of contextual information we are generating daily.

The journey data we collect via onboard devices or by using the smartphone as a powerful mobility sensor allows us to see and understand a driver’s behaviour, scoring them against key areas including speed, smoothness of driving and distraction amongst others. Scores are then provided to drivers so they can take action and drive more safely. And they are also given to their insurer so they can accurately assess their risk profile and price accordingly.

Those drivers who are deemed the highest risk may also be given the opportunity to improve their scores by taking part in our driver coaching programme, FloowCoach, which use behavioural conditioning techniques to help drivers develop safer habits behind the wheel which can result in a positive improvement in the long-term.

The Floow's telematics solutions provide drivers with the insights to manage and reduce their risk levels - something which is not available to those drivers on traditional insurance policies. By allowing access to information about their driving behaviour, the same information that an insurer will see about them, it can build a level of trust which is not usually seen in the relationship between insurer and policyholder.

When an insurer makes use of telematics to build a relationship with their policyholder it creates the opportunity to change the perception of car insurance and in some cases, it can become a positive aspect in a driver’s day-to-day life.

There are many benefits telematics can provide and for insurance companies looking to invest in this technology they need to be able to trust the telematics provider they are working with and trust that they we will deliver on their promises, they are committed to working with them and they have their best interests at heart.

As a company which is independently owned by its management team, our focus is fixed on working closely with our clients to develop and build the propositions and solutions they require whilst providing the support they need across a number of areas from proposition development, onboarding and beyond. Our independence allows us flexibility in how we work with our clients and we believe that this is contributing to fantastic relationships where clients see us as a reliable, trusted partner in their telematics journey.

I remain as passionate about this as I was when we founded the company, just over six years ago. And believe that developing and maintaining trust across the industry - from telematics provider to insurance company to policyholder - to be one of the most important contributions The Floow can bring to the insurance industry.

If you would like to discuss how The Floow can partner with you, please email me at info@thefloow.com; we’d be delighted to talk.

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