Just a few weeks ago we celebrated The Floow’s continuing international growth by opening a new US office base in Detroit.
Today, I’m excited to announce the appointment of Nathan George as Business Development Director for North America to help drive this expansion further.
Nathan brings a wealth of telematics industry experience to The Floow, having spent nearly 10 years working for one of our competitors in the US market. It’s this track record, his understanding of the industry, and some great relationships with customers that stood Nathan apart and why I’m really delighted to have him on board.
While we were talking to Nathan during the interview process, I was struck by his commitment to help us with our mission here at The Floow. That’s one of the things we look for in candidates: a belief in the importance of helping to make mobility safer and smarter for everyone.
But I was also impressed with Nathan’s work ethic and excitement in the opportunity to bring telematics innovation to customers in insurance, fleets and auto manufacturing. The US is a fast-moving market for telematics and although we’ve already got some fantastic customer relationships with leading insurers, there is a huge opportunity here.
Penetration of the US insurance telematics market is predicted to grow to around 20% within the next five years. But participating in this growth momentum is not without challenges:
- The North American market has 50 plus statutes to navigate with respect to insurance filing
- A variety of agency distribution models makes the sale of telematics policies challenging because it may require additional explanation and training
In the short term, we will continue to assemble a team of highly experienced telematics and insurance experts to address these challenges, as well as positioning our core capabilities, particularly:
- Scores that have been proven to be very predictive of claims
- The ability for insurers to create their own IP on top of the solid foundation of our data
- A device-agnostic approach so that whatever method a customer wants to use to monitor driver behaviour and gather data, we can help them
- A robust suite of products and an innovative roadmap that anticipates the needs of the markets we serve
Last week I was in the US meeting with existing customers as well as several insurance companies who are hungry to develop telematics programmes for their policy holders. The feedback we heard and the conversations we had give us confidence that we have the capability to support this market.
I look forward to working with Nathan and the rest of the team we are building in Detroit to help expand our business further in this critical and fast-growing market.
Welcome to The Floow, Nathan!
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