The Floow has released an enhanced, off-the-shelf version of FloowFleet, a white-labeled Connected Insurance solution specially designed for managers of small fleets.
FloowFleet allows fleet managers to track their vehicles via an OBD or fitted device, and provides fleet managers, supervisors and drivers with real-time tracking data to monitor and promote safer driving in commercial fleets.
Managers are able to provide drivers with feedback on their driving performance, and drivers have the opportunity to view insights into their driving behavior and identify areas of improvement or ways to drive safer.
New features in the update include:
- Fleet managers can now invite drivers to view the journeys they have made and review feedback in the form of a “speed” and “smooth” score, in addition to event pins that map higher levels of braking and acceleration. Managers can also invite fleet supervisors to review activities.
- An easy-to-view Fleet Dashboard with a new analytics interface that offers insight into relevant trip data, while showing managers and insurers how users actually interact with the dashboard itself.
- The journey collection infrastructure has been upgraded and structured to allow for massive scalability. Taking advantage of the latest technology, the solution is engineered to use elastic cloud-based infrastructure to deliver the real-time performance expected by busy fleet managers and drivers.
“FloowFleet can significantly improve the loss ratio for commercial insurers, particularly those who provide coverage for fleets with 25 vehicles or less” said Danny Maco, Senior Vice President and General Manager, Americas at The Floow. “Smaller fleets can derive immediate benefit through insurance that provides key telematics features—without the need to invest in far more complex and costly telematics software. FloowFleet is specifically engineered to help smaller commercial lines benefit from a telematics solution that’s both cost-effective and easy to launch and scale.”
FloowFleet provides fleet insights and trip data to the insurer via a detailed management portal. Insurers can also build their own scoring IP on top of The Floow’s proprietary FloowScore by analyzing the score against claims data to optimally predict claims. Individual driver scores can also be improved through The Floow’s feedback, coaching and training offerings, which have been proven to further lower claim rates.
“The Floow’s approach delivers three times the profitability per telematics customer versus traditional policy types,” Maco said. “We offer a comprehensive production-ready resource for insurers looking for more accurate underwriting capabilities, fewer claims and improved loss ratios.”