UK-based insurtech Flock and Aioi Nissay Dowa Insurance (AND-E UK) have joined forces to work on how commercial fleet insurance is priced and distributed.
It will allow fleet managers to access insurance customised to suit their operations.
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Two connected motor fleet insurance products are now available to self-drive hire, own goods, courier and tradesperson fleets across the UK.
It has been developed by combining AND-E UK’s motor industry experience with Flock’s risk intelligence and policy management platform.
Flock’s risk intelligence engine connects to vehicle telematics and analyses millions of data points to price policies based on the safety of every fleet.
Flock CEO Ed Leon Klinger said: “We believe the insurers of the future won’t simply pay claims; they will also actively incentivise and enable motorists to drive more safely and reduce risk. Together with AND-E, we are excited to be pioneering this approach.
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By GlobalData“The AND-E UK team share our vision of combining insurance with cutting-edge technology to create a safer, smarter world. This is only the beginning and I believe together we have the potential to transform how the world thinks about motor insurance.”
AND-E UK is part of Aioi Nissay Dowa Europe (AND-E), which is part of Asian insurers MS&AD group.
Flock’s digital dashboard is also integrated with UK’s official Motor Insurance Database.
It reduces the administration associated with managing the insurance needs of a growing fleet.
AND-E UK CEO Warren Hetz added: “Our partnership with Flock heralds a new era in commercial insurance. By combining Flock’s cutting-edge technology with our significant underwriting expertise in connected vehicle technologies and insurance, along with our global distribution networks, we will be able to deliver an exceptional experience for fleets and their drivers.”
