The Floow, a United Kingdom-based telematics innovator that captures mobility data to assists insurance companies, has opened its first North American office in Taylor. The 20,000-square-foot facility will be the company’s main headquarters to serve both the U.S. and Canada as part of a global expansion strategy.
The company uses smartphone sensors and the ability to enhance and analyze the data provided by them to create an accurate score for an individual’s driving technique, enabling insurance companies to more accurately predict claims and promote safer driving practices.
“Not only does our proposition enable insurance companies to reduce risk, by helping to identify poor driving behavior and working with the individual to improve it, but it also enables them to create a more positive customer experience that can help to differentiate their product in the marketplace,” says Aldo Monteforte, founder and CEO.
Monteforte says over the next three years, the U.S. operation will represent a multi-million-dollar investment in people, premises, and customer services support that is expected to support revenue growth 300 percent by 2020. “The investment reflects The Floow’s understanding of a need for a local presence and a commitment to the connected car universe as autonomous and connected vehicles become closer to a mobility reality,” he says.
Monteforte adds that an “ongoing, continual dialogue” between the consumer and insurance company can result in increased transparency and lower premiums, which translate to higher customer satisfaction and loyalty.
The Floow technology and solutions are currently being piloted and deployed in Europe, North and South America, Africa, and Asia. More information can be found here.