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Flock secures $17 million investments for its commercial line insurance solution.
#FLOCK
POSTED ON:
August 5, 2021
TechCrunch reports Flock to secure $ 17,000,000 investments. What does it mean for you?
Spoiler: One small step for Flock, one giant leap for the industry.
For years, the world has been buzzing about telematics in insurance and the infinite business opportunities it opens. But in real life, its implementation was limited especially in commercial vehicles equipped with telematics solutions from various vendors.
Even with the rise of B2B and B2B2C and connected mobility – delivery, car-sharing, private-hire, subscription, and leasing, etc. – these mobility companies are still getting old-school flat-rate insurance premiums, which do not correspond to their business models.
Since then, more and more vehicles are becoming commercial – shared, rather than owned. And it’s safe to assume that 2021 becomes the tipping point.
Spoiler: One small step for Flock, one giant leap for the industry.
For years, the world has been buzzing about telematics in insurance and the infinite business opportunities it opens. But in real life, its implementation was limited especially in commercial vehicles equipped with telematics solutions from various vendors.
Even with the rise of B2B and B2B2C and connected mobility – delivery, car-sharing, private-hire, subscription, and leasing, etc. – these mobility companies are still getting old-school flat-rate insurance premiums, which do not correspond to their business models.
Since then, more and more vehicles are becoming commercial – shared, rather than owned. And it’s safe to assume that 2021 becomes the tipping point.
TAGS:
flock, insurtech,
open mobility,
future mobility
open mobility,
future mobility
Flock headed by Ed Leon Klinger secures 17 million dollar investments for its commercial line insurance solution that can retrieve data from various telematics platforms. The data is then used for insurance risk assessment in B2B2C. The investment in such a solution by Social Capital LP and Chamath Palihapitiya, Anthemis Group, and Dig Ventures means that the shift towards dynamic insurance for commercial lines is finally here.
This is the trigger that will make the 200 billion dollar market of commercial lines insurance grow even faster and change. Traditional insurers will have to either adapt or be superseded by such visioners as Flock that closes the gap in the modern fleet insurance and offers flexible, telematics data-driven products.
Now Flock is joined by NIG Commercial and Aioi Nissay Dowa Europe to reinvent insurance. Congrats to the team, investors, and partners – it’s the right move. And here’s what comes next.
Any insurer will get access to the diverse telematics data regardless of the data source their customers use, reveal insights from this data, and start building harmonized propositions on top of this analytics. And that’s exactly what Draivn offers – to unleash the full telematics data potential in mobility insurance.
So if you are a broker, insurer, or an MGA - dealing with fleets – why not become proactive and tap into connected mobility. Start here: https://draivn.com/
This is the trigger that will make the 200 billion dollar market of commercial lines insurance grow even faster and change. Traditional insurers will have to either adapt or be superseded by such visioners as Flock that closes the gap in the modern fleet insurance and offers flexible, telematics data-driven products.
Now Flock is joined by NIG Commercial and Aioi Nissay Dowa Europe to reinvent insurance. Congrats to the team, investors, and partners – it’s the right move. And here’s what comes next.
Any insurer will get access to the diverse telematics data regardless of the data source their customers use, reveal insights from this data, and start building harmonized propositions on top of this analytics. And that’s exactly what Draivn offers – to unleash the full telematics data potential in mobility insurance.
So if you are a broker, insurer, or an MGA - dealing with fleets – why not become proactive and tap into connected mobility. Start here: https://draivn.com/
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