Munich Re and The Floow have reached an agreement for a global partnership. Munich Re is one of leading reinsurers, and The Floow is a telematics provider headquartered in Detroit.
With this deal, The Floow’s portfolio of solutions and capabilities can be provided to insurance clients around the world while 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.
According to Munich Re, there is an appetite for the development of usage-based insurance propositions by clients around the world and by partnering with The Floow it would deliver a best-in-class value proposition to the clients.
Source: Press Release