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Munich Re inks global telematics agreement with The Floow

In Action Summary

Munich Re has partnered with the Floow a telematics provider. Launched in 2012, Floow mission is to make mobility safer and smarter via a range of innovative telematics solutions. It serves as a telematics data refinery for many of the world’s leading insurance providers and motor manufacturers across the US, Europe, Africa, and South America.

Floow’s telematics scoring system is used by insurers, fleet operators and auto manufacturers. The system comprises six key areas which we monitor throughout a journey in order to create an overall score for the driver

The partnership forms a part of a Global Telematics Agreement. The deal enables Munich Re to share Floow’s telematics solutions and capabilities to the insurance clients across the globe. Apart from this, the deal also allows both companies to combine Munich Re’s capabilities with Floow’s data collection, refinery and scoring solutions. This combination will deliver a superior solution for insurance clients globally.

The partnership will target usage-based insurance appetite of the clients around the world providing them with best-in-class value proposition.

“Munich Re is an excellent partner for us to work with and we’re confident that they will help us to extend our reach and bring the power and benefits of telematics to many more insurers and their customers worldwide. We’re excited by the opportunities that this partnership will bring and are already engaged in new projects in the Middle East, Africa, the Americas, Asia and mainland Europe,” said David James, Chief Operating Officer, The Floow.

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