July 2021

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📊 KPI: €176m raised by European InsurTech startups

🚀 Startup guest: Flock

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Flock is a company that offers connected insurance solutions for safer fleets. They provide a fully digital insurance platform that leverages telematics technology to track and analyze the driving behavior of fleet vehicles. By monitoring factors such as speed, acceleration, braking, and location data, Flock assesses the risk associated with each vehicle and offers insurance premiums based on the actual driving performance.

The main concept behind Flock's connected insurance is to incentivize safer driving practices. Fleet operators who prioritize safety and maintain good driving habits can benefit from lower insurance premiums. Flock's technology allows them to reward those who demonstrate responsible driving behavior by offering more competitive rates.

To participate in Flock's insurance program, fleet owners and operators need to install telematics devices or use Flock's mobile app, which collects the necessary data to evaluate driving behavior. The gathered information is then analyzed, and customized insurance policies are generated for each vehicle or fleet.

Flock's connected insurance not only benefits fleet operators in terms of cost savings but also promotes overall road safety. By encouraging safer driving practices, such as reduced speeding and smoother braking, Flock aims to minimize the occurrence of accidents and improve the overall risk profile of the insured fleets.

For more detailed information about Flock's connected insurance for safer fleets, you can visit their website at flockcover.com.

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