Letter from our CEO: Aldo Monteforte

Letter from our CEO: Aldo Monteforte

Welcome to the Spring edition of Driven, our quarterly magazine which aims to encompass insights, ideas, best practices and innovation in insurance telematics.

We had some great feedback about our first issue so this time around we wanted to focus on some of the areas you told us you’d like to hear more about. Amongst the articles you’ll read include one from Dr Sam Chapman, my co-founder here at The Floow and our Chief Innovation Officer. Sam talks about the future of mobility and how telematics-based insights are informing a new paradigm when it comes to risk pricing and modelling, and will enable a future which could fully integrate autonomous mobility.

Whilst some of these changes represent the potential for complex disruption to our insurance partners, others will create opportunity for differentiation. It’s this angle that Andy Goldby, our Chief Actuary, picks up on with regards to how telematics can be the basis for better business outcomes, better customer insights and better partnership - all built upon a platform of better, more sophisticated scores.

Future mobility and scoring sophistication are two of the six pillars of strategic focus that we’re centering our efforts around here at The Floow. In my article for Driven, I talk about these alongside four others: mobile-first, the power of behavioural conditioning, a touchless claims experience and OEM data integration.

These are issues that the majority of our clients are interested in, and all of them are keen to learn from our experiences of working with industry peers to address them. It’s in that spirit that this issue of Driven also includes an article reflecting on the 2 billion+ miles that we’ve scored during more than five years of working with Direct Line Group in the UK. The fruits of that relationship include more than £50 million of savings achieved for young drivers benefitting from telematics insurance policies - an excellent customer-centric outcome.

These truly are exciting times and I believe that there’s never been a better time to be part of and contributing to the transformation of the insurance industry to make mobility safer and smarter for everyone.

I hope that you enjoy reading Driven! Until next time…