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.