After the successful launch of FloowDrive last month at the Insurance Innovators event in London, the team from The Floow’s Detroit office have been waiting patiently for their turn to give our latest product a proper launch into the North American market.
On April 25th and 26th, we will have the chance to do just that at the Connected Vehicles Insurance and IoT conference in Chicago. I will be joined at the event by my colleagues Director of Business Development, Nathan George, Client Development Director, Dave Huber and The Floow’s CEO and founder, Aldo Monteforte.
We will be presenting FloowDrive and demoing the platform’s capabilities live on stage to an audience of insurance decision makers from across the US and Canada. We believe FloowDrive will help North American insurers of all sizes alleviate many of the barriers to entering the telematics market.
FloowDrive has taken the best of The Floow’s capabilities, knowledge, and skills and packaged them into a white-labeled platform which can create a deployable telematics solution in a matter of minutes reducing the time, effort, and cost to go-to-market.
Most importantly, we have ensured that FloowDrive can deliver on our insurance partners’ needs by being a modular, customizable platform. This provides a wealth of options to create the products and services they require without the extra cost and time it would take to develop and build a custom-tailored product.
We’ve made it easy to create a policyholder facing app that features a partner’s specific branding elements and provides the opportunity to add extras such as our incentives and rewards platform or FloowCoach, our driver coaching program, to an insurer’s product.
We’ve also made it simple for insurers to build their own unique Intellectual Property (IP) with our scoring platform, satisfying the need and desire of most insurers to create, develop and own differentiated scoring IP. Our insurance partners have the option to train their claims data and policy rate plans against our solid base of scores, which have been built over six years and are proven to be highly predictive of claims propensity.
By doing this, it not only makes it easier for an insurer to price policies more accurately and get a better picture of an individual driver’s risk profile, but this unique approach is seen to deliver three times the profitability per telematics policyholder when compared to our partners’ traditional auto policies.
The flexibility to allow our insurance partners to build their own IP on top of our scoring algorithm gives them the opportunity to offer fair and accurate prices to their policyholders which can cultivate lasting relationships and deliver a compelling ROI in terms of favorable acquisition numbers, better policy retention, greater customer engagement and improved underwriting profitability.
If you don’t get the opportunity to see us at this event, we will also demo FloowDrive on stage at the Dig-In event in Austin which runs from May 14th to 16th.
If you can’t make either of these events and would like to learn more about FloowDrive, please contact us at email@example.com to request a demo or to receive further information.
Safe driving to you and yours!
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