To estimate risk across driving, it is vital to understand the risk from the specific behaviours of each driver. This is the fundamental core of telematics – enabling the improved estimation of individual driver risk. However, it is not as simple as understanding the numbers of harsh braking events which poorly predict risk.
Instead, the core aim remains to add further to the understanding of a balanced and evidential view over all possible observable risk factors. However, it is vital in any such analysis and optimisation to ensure that any techniques employed remain:
Therefore, The Floow focuses core R&D efforts into improving fine-grained understanding of driver behaviour to optimise the above aims. This focus looks at new improved insights into behaviour to ensure the best understanding of driver behaviour is reached.
Ultimately, the study of ‘behaviour’ looks for meaningful discriminators, able to identify potential new characteristics of drivers such that they could enable better identification of good vs. bad risk driving. This work directly feeds into our future scoring approaches allowing for clearer insight and value for all our insurance clients.
UPLIFT is The Floow’s research project that seeks to strengthen the UK’s position in the motor insurance sector. Over the course of 21 months we will build better and fairer insurance products by expanding our telematics capabilities. This expansion will be powered by a series of studies into sensors and their data.
For more information, visit the UPLIFT project page.
Driven #4 Oct 2019
This issue of Driven includes: The Future of Risk: How The Floow and Direct Line Group are Using MOVE_UK to Influence the Future of Insurance; The Ecosystems Beyond Insurance with DIA’s Roger Peverelli; Working in Partnership with Munich Re to Deliver Telematics Benefits to More Drivers.
The Future of Connected Insurance and Autonomous Vehicles at Cenex-LCV
At the beginning of September, I attended Cenex-LCV in Millbrook to talk about the future of connected insurance and the impacts that autonomous vehicles could have on this area.
Keep to the Code: 3 Year Driving Study Shows Road Danger Caused by Unsafe Manoeuvres From Drivers ‘Cutting In’ at Speed
Analysis of three years of driving data completed as part of the MOVE_UK study has revealed that a worrying number of UK drivers fail to keep a reasonable gap between the cars in front and behind when ‘cutting in’ or changing lanes.