The Floow has released an updated version of FloowDrive, an advanced automotive telematics platform that uses a smartphone as a mobility sensor.
The new version offers insurers the first quick-to-launch, white-labeled telematics rewards module to provide incentives to drivers for proven safety performance, according to the company.
FloowDrive 2.0 includes a number of new features to provide insurers with greater flexibility and more ways to customize the platform to meet their specific needs, explained John Kramer, vice president and head of North American operations for The Floow.
“Our new release takes everything we’ve learned from six years of building advanced telematics solutions, and distils it into one robust, easy-to-deploy platform that’s production-ready today,” Kramer said.
FloowDrive allows insurance companies to collect telematics-based data about individual driver behavior to more accurately predict risk, and to help drivers learn new ways to improve safety and lower premium costs, according to the company. New features include:
For the insurer
- An updated portal to give insurers more flexibility to deal with customer queries such as password changes, updating journey tags or disabling a user account
- Enhanced white-labeling capabilities including insurer-controlled branding, custom content, a broader set of image and color options, the ability to easily edit content in real-time without disrupting the app, and more options to tailor content such as emergency-contact details
- Access to a third-party analytics provider to seamlessly integrate data from multiple sources
- Ability to send engagement and reporting data, including integrity reports and usage analytics, directly to the insurer
For the policyholder or driver
- A fully integrated, optional rewards module to recognize high-scoring drivers or sustained improvements in driver behavior
- Access to a range of food, entertainment and retail vouchers drivers can choose as rewards
“Our studies show that rewards and incentives can improve driver-safety scores by as much as 54 percent and have a stronger behavioral impact than traditional end-of-term insurance discounts, especially among the lowest-scoring drivers,” Kramer said.