Happy Birthday to The Floow: We’re 6!

Aldo Monteforte - March 02nd, 2018

three people sat round a table talking to each other

As a chief executive, there’s something that keeps me up at night and it might not be what you think.

Yes, I think deeply every day about delighting our customers, developing talent in the team and innovating rapidly to stay ahead in a competitive market. And those three things really are considerable challenges.

But the thing that really obsesses me is the same one that first drove me to start this company six years ago: how to reduce the number of accidents and deaths on our roads.

It’s an audacious goal. After all, more than 1 million people die in road collisions every year, and despite the many improvements that technology has brought to vehicle and road safety, accidents still occur at a very alarming rate. And that’s because many accidents are caused by human error, lack of concentration, distraction and speed.

The human cost of this is staggering. But what if technology, data science and social science could help?

That’s the promise that telematics brings – and with it comes the potential for enormous commercial benefits too – for insurers, for vehicle manufacturers, for fleet operators, and even for governments and policy makers.

We’re working together with our clients to make tangible progress:

  • Our scoring proposition is proven to be highly predictive of claims, helping insurers to better assess risk, and pass the benefit to drivers who are safer
  • Our rewards platforms are proven to encourage twice the score improvement of a discount based policy alone – in other words, incentives encourage safer driving
  • Our driver coaching programme – FloowCoach – is proven to prevent 16 accidents from occurring in the worst-scoring drivers – proving that helping drivers to improve can make a big long-term difference in their behaviour

Of course there is an awful lot more to do. Telematics is a fast growing market, but we have a long way to go to make this capability pervasive. And motoring is just the start – many different forms of mobility could also benefit from telematics so we have a huge challenge ahead of us as an industry.

I reflect on all of this today as this week The Floow marks its 6th birthday. That’s quite a milestone and it’s true to say that I am proud of a lot of things:

  • Expanding our business to serve clients across five continents
  • Building a top quality team which spans some of the strongest talent in data science, social science and technology

But the thing I am probably proudest of is staying true to our mission of making mobility safer and smarter for everyone.

Thank you to our team for joining me, Sam and Paul on that mission. And thank you to our clients and industry partners for continuing to believe in the same goal.

Making mobility safer and smarter for everyone will drive us onward for the next 6 years, and beyond!

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