Many of The Floow’s staff are scientists and academics who work hard to develop, understand and maintain the data we collect from a number of devices. They have developed our world-class scoring algorithm as well as incorporated social science techniques into our solutions to provide further understanding of driver behaviour, helping to educate drivers to become safer behind the wheel.
We also maintain a focus on the future of mobility, and technologies which could impact this space, through internal R&D work and involvement in research projects across the globe; we believe that this work is vitally important to ensure The Floow remains the trusted and experienced partner to help guide our clients through the ever-changing world of future mobility.
A measure of the driver’s anticipation of events by analysing the smoothness of acceleration, braking and cornering.
A measure of mobile phone usage behind the wheel by tracking anything that can take the driver’s eyes and mind off the road including texting to phone calls once a journey is in progress.
A measure of the safety of the speed the car is travelling relative to other road users.
A measure which considers the time of day or night of the journey. Driving during the night is around 10 times riskier than driving during the daytime.
A measure of the length of a journey. Drivers should take a rest after driving continuously for 2 hours or more as that’s when concentration can start to wane.
A measure which recognises that more accidents occur on certain roads. For example, motorways are relatively safe compared to some urban roads.
Our scoring approach uses a combination of advanced data cleansing, standard actuarial techniques and machine learning. The Floow is a device agnostic telematics service provider which means that we can collect journey data from a number of devices including smartphones and onboard devices, whether self-installed, professionally fitted or installed by the auto manufacturer.
The behavioural data which is collected from these devices is combined with detailed contextual data to create meaningful scores which drivers, insurers and fleet companies can use when pricing their insurance policies, checking and improving their behaviour on the road or when inspecting how their vehicles are being driven.
For insurers, in particular, we focus on ensuring that the data we collect helps to advance the way they understand and price risk. Our world-class scoring system pushes behavioural scores to match and surpass the traditional, proxy-based models which assess risk for an insurance policy, this is proven to deliver an improvement of at least 25% claims benefit across the book.
We work directly with actuaries and underwriters who share their claims data with us to ensure our scores uniquely predict insurance risk allowing them to price policies straight from the telematics data which we make available to them. Once the claims data has been shared, the results become the distinct IP of that client. This unique approach delivers three times the profitability per telematics customer versus traditional policy types.
We take the behavioural data that has been collected through sensing devices and contextually enrich it providing us with the ability to not only predict risk but also to reduce it.
The driver psychology team at The Floow combines a number of academics and social scientists with a deep understanding of driver behaviour and how to influence it. Their insights ensure that the way we present our scores can be easily understood by everyone, and that they can be uniquely tailored for insurers and fleet managers to optimise their engagement with drivers and maximise improvements in driver behaviour.
A driver’s scoring history dictates the mix of engagement and education techniques that they will be introduced to. For example, our team uses behavioural data to work with the lowest scoring drivers through our driver coaching programme, FloowCoach, and to design incentive schemes to promote more positive driving.
Rewards and incentive schemes are made more widely available and are proven to improve driver scores by around 30%, which is more than a standard discount-based UBI proposition.
The Floow is a pioneer in the telematics industry and we are continuously exploring innovation across the mobility space, alongside our core capabilities. Some of our current innovation projects include initiatives that focus on traffic management, traffic modelling, smart cities, pollution control, predictive maintenance and autonomous vehicles.
The research we contribute to in these areas allows us to build novel, industry-leading capabilities for our clients as well as allowing us to play an important role in progressing a number of broader industry initiatives working with various research partners based across the globe.Learn More About Our R&D Activity
Creating an EV Insurance Strategy
As the EV market surges ahead, The Floow’s data reveals that range anxiety is fading into the rearview mirror, with EV journey lengths outpacing ICE vehicles by 13%. Moreover, EVs are proving to be smoother operators, driven with 4% more finesse—perhaps thanks to advanced cruise control and regenerative braking. Plus, with a 2% lower rate of mobile phone-induced driver distraction, EV tech is steering us towards safer, focused roads ahead.
The Floow Crash Detection Service exceeds 80% in Precision and Recall and is foundational to the FloowClaims product suite
Employing cutting-edge signal processing and machine learning, our Crash Detection service detects crashes and accidents based on smartphone sensors, exceeding 80% in Precision and Recall.
Challenging Times for Motor
E&Y predicts a combined ratio of 108.5% in 2023, with a marginal profit expected in 2024. Telematics, which provides additional data, helps insurers mitigate the winner’s curse effect, identify good drivers, prevent fraud, and streamline claims services, potentially improving the combined ratio by up to 17%.