New Telematics Platform for Commercial Insurers of Small U.S. Fleets Launched

Automotive telematics specialist The Floow has released FloowFleet, a telematics platform specially designed for commercial insurers serving fleets with 25 or fewer light-duty vehicles. 

The platform intends to present clear and objective scoring on how well fleet vehicles are being driven on every trip.

FloowFleet gives fleet owners, managers and risk professionals transparent access to driver behavior. That information can then be used by management to work with individual drivers to improve their overall safety performance through coaching, feedback, or even via additional training.

The system’s analytics engine is also a benefit to insurers looking for more accurate underwriting capabilities, fewer claims and improved loss ratios. It’s equally beneficial to fleet owners looking for an intuitive, easy-to-use risk-management solution.

According to John Kramer, The Floow’s Vice President and Head of U.S. Operations, FloowFleet’s driver-friendly platform can be easily customized to a fleet manager’s priorities. Distinctive features include:

• Works with OBD or fitted devices to enable efficient data gathering
• Scores trips completed in specific fleet vehicles, including the opportunity to see a breakdown of the driver’s performance across all scoring categories
• Provides a platform to offer relevant programs to improve driver behavior, such as coaching
• Offers a cost-effective solution that is production-ready, highly scalable, and quick to deploy

FloowFleet presents fleet insights and trip data to the insurer via a detailed management portal. Additionally, insurers can build their own scoring IP on top of The Floow’s proprietary FloowScore by training the score against claims data to optimally predict claims. This unique approach delivers three times the profitability per telematics customer versus traditional policy types.

Fleet managers can view trip-level data through a dedicated portal that can be easily accessed via desktop, tablet or mobile device. They can choose to share these insights with drivers or maintain them for proprietary information.

Said Kramer: “With FloowFleet, it’s possible to get a clear and accurate picture of your drivers’ safety performance—and to focus on improving areas that aren’t up to par. This helps fleet managers improve the risk profile of their fleet and potentially access cheaper commercial insurance. At the same time, the insurer is able to access insights into the performance of the drivers in the fleets that they insure, giving them tools to better manage and price that risk.”

Category: Connected Fleet News, General Update, News