Global telematics company, The Floow, has been recognised with the Data Analytics Excellence award at The Insurance Times Tech and Innovation Awards last month (26th Sept).
According to this year’s judging panel, made up of experts and specialists from across the insurance industry, The Floow won this award as they ”showed innovative ways to achieve fairer pricing, working collaboratively with partners to deliver fantastic results.”
The Floow prides itself on its strong data science and analytics capabilities so this award has been greeted with celebration across the company. Over seven years, The Floow’s expert team of data scientists have constantly refined their scoring algorithm to continuously improve predictability of claims propensity and severity.
This award celebrates the very core of The Floow’s capabilities which allows insurers to price policies and predict driver risk more accurately as well as being proven to deliver an improvement of at least 25% claims benefit across the book. The scores provided by The Floow provide a solid base for insurers to develop their own scoring IP to better understand the risks of their policyholders, an approach which is unique in the marketplace.
Speaking about this recognition, The Floow’s CEO and Founder, Aldo Monteforte, said; “We are delighted to have been chosen as this year’s winner of the Data Analytics Excellence award at the Insurance Times Tech and Innovation Awards.
“I’m extremely proud of our team who are experts in the field of data science and who work hard to ensure that the insights we provide to our clients are world-class and provide significant competitive advantage to insurers. We will continue to focus on providing the very best data, analytics and insights to our clients across the insurance sector and beyond. Congratulations to the team!”
To find out more about The Floow’s scoring and data science capabilities, get in touch at info@thefloow.com
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