With this deal, the Floow’s portfolio of solutions and capabilities can be provided to insurance clients around the world whilst also strengthening Munich Re’s telematics consulting offering. Combining The Floow’s data collection, refinery and scoring solutions with Munich Re’s insurance product and actuarial expertise will deliver a superior solution for insurance clients globally.
“We see enormous appetite for the development of usage based insurance propositions by our clients around the world,” commented Sabine Fischer, Head of Motor Consulting at Munich Re. “The underpinning capabilities have to be right, and we’ve carefully selected The Floow as our partner because we believe in the quality of their offer. Together we will deliver a best in class value proposition to our clients.”
“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,” commented David James, Chief Operating Officer at The Floow. “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.”
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