Letter from our CEO: Aldo Monteforte

The COVID-19 pandemic has been testing in many ways and I’m extremely proud of the commitment and resilience which The Floow team has shown as we continue to deliver excellence for our clients, under unprecedented circumstances.

At the end of March, I wrote the article “The Floow Have Got You Covered” about how we are dealing with the ongoing situation so our clients can continue to focus on their business priorities. The confidence our partners have placed in The Floow is our most valuable asset and we continue to work hard to ensure that their trust is repaid through support, operational stability and great service.

At these difficult times, it is crucial that transport and mobility continue undisrupted. Motor insurance is a crucial service and as mobility patterns change once again, it is important to look forward to the future of insurance. The shock delivered to the global system will produce long-lasting effects on consumer preferences and working practices. Insurers aren’t immune and, more than ever, they are under pressure to become the “better digital version of themselves”.

In particular, with drivers using their cars less frequently, the demand for Pay-As-You-Drive (PAYD) insurance will grow alongside users’ preference for smooth and curated digital journeys across the entire arc of an insurance experience. Our recently launched FloowTag solution is a great option for a PAYD proposition as it ensures that only journeys from the insured vehicle are monitored and analysed. We explore this further on page 16 as we introduce you to FloowTag.

We also shine a spotlight on our Product team, speaking to our Head of Product, Andrei Berechet, about his vision for The Floow’s product offering, the future of mobility and driving end-user engagement with telematics propositions.

Despite the drop in mobility levels in recent weeks, risk levels have risen, explained by the rise in mobile distraction and speed behind the wheel. Our Chief Actuary, Andy Goldby, has written extensively about the impact on insurance, generating huge interest and feedback from many across the mobility and insurance sectors. Curbing distracted driving is fundamental to us and, in this issue, our Chief Education Officer, Dr Lisa Dorn, explores why developing a deep understanding of driver behaviour is so important when working to eliminate driver distraction.

Air pollution levels in many cities have also dropped recently, due to the lockdowns, but pollution still remains a considerable problem worldwide. Our CIO, Dr Sam Chapman, has written about our work on the WM-Air project, where we are using driver behaviour data to help improve pollution levels in the West Midlands - work which will have an impact across the UK and the rest of the world.

I hope you enjoy reading this issue of Driven. As ever, if you have any feedback or would like to start a conversation with us about any aspect of our work, please email me via info@thefloow.com

Aldo