SHEFFIELD, UK – 26th July, 2023 – Connected insurance technology provider The Floow, an Otonomo Technologies Ltd. (Nasdaq: OTMO) company, today announced it has earned a DIAmond Award as one of the “most strategically impactful” insurtechs at this year’s ITC DIA Europe Conference, in Barcelona. The Floow was recognized for its presentation of FloowFusion, its breakthrough technology that enables insurance providers to easily leverage connected vehicle data with existing smartphone data to power connected insurance policies.
“The Floow is deeply gratified to be recognized among the exceptional connected insurance innovators at ITC DIA Europe,” said Aldo Monteforte, CEO of The Floow. “We created FloowFusion to make connected insurance a reality for drivers and data-driven insurance providers. I am immensely proud of our team and the work we are doing to make mobility smarter and safer for everyone.”
FloowFusion brings together The Floow’s industry-leading, smartphone-based solution with connected vehicle data, providing access to unique insights that transform the way auto insurance is written and managed. With FloowFusion, insurance providers, fleet companies, and auto manufacturers can easily leverage mobile and vehicle telematics data to increase their competitive advantage through:
- leading connected insurance policy offerings
- increased data accuracy for existing offerings
- preventative service monitoring and behavior campaigns
- more sophisticated driver risk models and management
FloowFusion is the industry’s first solution that is integrating data from smartphones as well as native vehicle equipment. With the improved accuracy and predictive power of The Floow’s telematics data, insurers can better balance risk and price, compared with traditional risk models. With access to near-real-time driving behavior data, insurers can create greater pricing sophistication, improve customer experiences, and identify risks, to drive stronger resilience against market shifts.
More information about FloowFusion is available here.
The Floow is expected to become part of Urgent.ly Inc. (Urgently) in the second half of this year, following the completion of Urgently’s merger with The Floow’s parent company Otonomo.
About The Floow (an Otonomo Company)
The Floow’s mission is to make mobility safer and smarter for everyone. Its user-friendly telematics platform provides drivers with actionable insights and engagement propositions that improve safety and loyalty, and allow insurers, fleet companies and auto manufacturers to make more informed and profitable decisions. More information is available at thefloow.com.
About Otonomo
Otonomo (NASDAQ: OTMO), the platform powering the mobility economy, is igniting a new generation of mobility experiences and services and is making mobility more accessible, equitable, sustainable and safe. The company’s partners gain access to the broadest, most diverse, range of data from connected vehicles with just one contract and one API. Architected with privacy and security by design, the Otonomo platform is GDPR, CCPA, and other privacy regulation compliant, ensuring all parties are protected and companies remain privacy compliant across geographies worldwide. Otonomo has R&D centers in Israel and the UK, with a presence in the United States and Europe. More information is available at otonomo.io.
About Urgently
Urgently keeps vehicles and people moving by delivering safe, innovative, and exceptional mobility assistance experiences. The company’s digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty. With more than 50 operating partners and an estimated Service Provider Professional Network of 80,000+, Urgently delivers innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.
Media Contacts:
The Floow
Otonomo
Urgently
Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Otonomo, the anticipated technological capability of Otonomo, the markets in which Otonomo operates and Otonomo’s projected future financial and operational results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to identify and realize additional opportunities, and our ability to complete our proposed merger with Urgently, Inc. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Otonomo’s annual report on Form 20-F filed with the SEC on March 31, 2023 and other documents filed by Otonomo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Otonomo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Otonomo gives no assurance that it will achieve its expectations.
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