Global telematics company, The Floow, has been included in 2021’s Oxbow Partners ‘Insurtech Impact 25’ Report, which highlights the top 25 up and coming insurtechs who have the potential to drive significant value in the industry, and help the insurance sector adapt for the future.
The annual Insurtech Impact 25 report focuses on “digital trends and showcasing 25 emerging technology-led businesses well placed to help insurers succeed”. The organisations who applied to be a part of this year’s report went through a rigorous selection process to demonstrate that they had a proposition which can “accelerate the digital transformation of insurers and brokers”.
The Floow delivers Connected-Insurance solutions to motor insurers that achieve two goals:
- Improve their ability to assess risks: through a suite of behavioural scores that are highly predictive of claim propensity, and a rich family of analytics that help carriers to intimately understand their policyholders.
- Reduce operating costs: through mobile applications that engage drivers to improve their performance by turning them into partners in risk prevention – preventing fraud, helping in the timely detection and managing of accidents, and increasing retention (for example through reward programmes)
This recognition celebrates The Floow’s commitment to helping insurers extend their core capability from the traditional “Detect & Repair” model to a new, tech centric model where “Detect & Repair” is coupled with “Predict and Prevent”.
As well as providing support, advice and additional services, including onboarding and tech support utilising The Floow’s years of expertise to ensure that insurers, and end-users, get the best value from utilising telematics within motor insurance.
Speaking about this recognition, The Floow’s CEO and Founder, Aldo Monteforte, said; “We are delighted to have been recognised as a leader in the insurtech sector by being included in this year’s Oxbow Partners Insurtech Insight 25 report.
“The Floow aims to use our years of expertise in the areas of data science, product design and development, and technology to deliver robust and innovative solutions for the insurance market. We are extremely proud that our work in this area has been recognised for its potential to drive significant value for insurers, now and in the future. We remain committed to delivering world-class solutions to our insurance clients across the world to provide them with significant competitive advantage.”
To find out more about 2021’s Oxbow Partners InsurTech Insight 25 report, visit the Oxbow Partners website and for more information about The Floow and our solutions, get in touch at info@thefloow.com
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