AmeriTrust, commercial insurance underwriter, and The Floow, an insurance telematics and scoring insurtech, are collaborating to develop a new smartphone-based telematics program.
FloowDrive, The Floow’s smartphone-based platform, will serve as the foundation of the new initiative, forcing on commercial line customers. Targeting towards customers piloting oil and gas service vehicles, the new service will monitor driving activity to fleet and non-fleet drivers in a mobile app and provide documented scores and behavior of drivers in management portal.
“We're entering into new markets and want to do it in a smart way, and want to improve our results on existing business,” shared Josh Crumley,VP of operations and analytics at meriTrust. With the assistance of the sensor monitor data, The Floow’s telematics platform helps segment drivers and will help the insurer “understand how to classify them much better without a long learning curve,” Crumley continued to share.
FloowDrive will provide granular insights into the driving habits of fleet drivers by scoring them on a number of factors, including smooth driving, distraction, speed, time of day and fatigue. Embracing a new technology-driven scoring and rating system will help AmeriTrust offer more accurate insurance pricing, provide a differentiated customer experience and develop a better understanding of their risk. Further, on top of the FloowScore platform, AmeriTrust has the ability to develop their own proprietary scoring, if they wish. Business-owner customers get the opportunity for better intelligence on their fleet by understanding the behavior and risk of their drivers. It also allows them to share those insights with drivers via the app, and to intelligently act on and improve driver performance via coaching and feedback.
“We have a strong belief that the smartphone can transform the relevance, customer engagement and accessibility of many of our solutions, so it’s great to be able to deliver this to our commercial lines customers,” Crumley added. Currently in pilot mode, FloowDrive is expected to roll out next year.
