Just over three months ago, I was proud to introduce our latest telematics platform FloowDrive to a room full of industry decision makers at the Insurance Innovators conference in London.
That demo marked the start of our launch activity across Europe and North America, and an exciting new chapter of our portfolio development. As a complete and quick to deploy telematics platform, FloowDrive allows us to build insurance propositions quickly and easily, removing the time, cost and complexity barriers which have held many insurers back from planning new telematics projects.
Since the launch, we have started working on new propositions built upon FloowDrive with four insurers in the US and Europe, and are in discussion with many more. During this time, the team and myself have spoken to many insurers about how we can continue to develop FloowDrive’s platform with new features and functionality. Using these insights, we’re enhancing an exciting product roadmap with updates designed to make the solution richer and more user-friendly for app users and insurers alike.
This week, our next release of FloowDrive goes live, which introduces additional design features and analytical capability, improvements to our scoring and a new look insurer portal. And perhaps most importantly, as part of this release, we’re launching a rewards programme which will be available as an optional add-on module that can be seamlessly integrated into an insurer’s FloowDrive-based proposition.
Rewards are a great way of creating an uplift in scores and more engaged drivers in the long-term. Rewards schemes we have developed previously have helped to improve driver scores by as much as 54% and they have a bigger behavioural impact than just offering an insurance price discount at the end of the year – especially for the lowest-scoring drivers.
As a result, we have made it simple to set up a rewards capability in FloowDrive so insurers can offer their policyholders rewards within the smartphone app for maintaining good driving scores or making sustained improvements to their driving behaviour.
We work closely with insurers to understand their objectives, including what behavioural outcomes they are looking to achieve, as well as their user demographics before recommending a rewards approach that’s both tailored to their customer demographics and easy to redeem, all offered via our partnership with a worldwide rewards partner.
This rewards module combines our six years experience building telematics solutions, our research into social sciences and experience of developing successful telematics rewards programmes. We believe it is this combination that will help us to deliver on our mission to make mobility safer and smarter for everyone.
We’ll be sharing more about rewards and how you can use them to drive user engagement and behaviour change in our next webinar on 3rd July at 2.30pm GMT. Click the link to register for our upcoming webinar.
To find out more about FloowDrive and how you can use it to offer more rewarding experiences for your end-users, contact us at info@thefloow.com to request a demo.
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