It was another busy and exciting week for the US team at The Floow, as we attended the Connected Car Insurance USA conference and exhibition, which took place last week in Chicago.
The annual event brought together over 130 insurers, automakers and leading connected car experts to discuss next generation insurance products and services, with telematics at the cornerstone of the conversation.
Our team spent the entire show meeting with both existing partners and new prospects to discuss our world-leading telematics solutions.
At the conference, there was a general recognition that the most significant predictor of risk is distracted driving, which has led to a definite shift towards using smartphones as a sensor; if you want the most powerful predictor of driving risk, you have to be able to capture distracted driving.
Our class-leading scoring system uses distraction as one of the five key components we monitor to create an overall driver-risk score. At The Floow, we take this one step further; not only do we capture the behavioral data around distracted driving, we contextually enrich it, which means we can not only predict risk, we can reduce it, through both driver feedback or using our proprietary coaching program, FloowCoach.
Unlike other providers, The Floow allows our partners to build upon our trusted scoring and technology platform to create their own IP. This approach to partnership has proven very attractive to the companies we work with, enabling them to differentiate and innovate within their markets…and it’s completely unique to the industry!
A second notable trend we observed was related to helping insurers tackle claims as part of the insurance telematics offer. This is an area where we’re lazer focused and I’m excited about the forthcoming solutions we’ll bring to market in the coming weeks.
In this fast-evolving market, our insurance partners and prospects shared with us their opinion of how The Floow continues to lead the way in developing pioneering telematics products and services that meet their increasingly challenging and sophisticated needs and those of their policyholders.
A high-point for us was when we were joined by our friends and partners at the residence of John Saville, the UK Consul General for dinner. The food was great, the views (when the weather cooperated) were spectacular and the conversation and company were amazing. We will most likely make this an annual event.
We look forward to developing our client relationships by effectively managing their risk while delivering a first-class user experience for their policyholders in an ever changing insurance market.
If you’d like to discuss how The Floow could help you develop telematics programs with impact, please email us at email@example.com.
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