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The Floow arrives in Scandinavia, launches smartphone-based telematics solution for Norwegian insurer

Published: February 10, 2015 | Yorkshire, UK

The Floow has been appointed by RSA’s Scandinavia based Codan Insurance to deliver the region’s first telematics smartphone application.

Codan_Forsikring_Floow_Telematics_UBI_Norway

The Codan Forsikring application, which was launched earlier this week, monitors driving behaviour using key variables such as anticipation, duration, speed and mobile use. It has been made available through Codan’s digital launch campaign to all drivers in Norway.

Aldo Montefore, the chief executive and co-founder of The Floow, said, 

“During the trial, customers will be in a position to understand the full capability of the application – including potential reductions on their insurance premiums. Throughout the trial we are also welcoming feedback from customers, which enables our team to continue to develop and improve the technology.”

The Codan Forsikring application, which was launched earlier this week, monitors driving behaviour using key variables such as anticipation, duration, speed and mobile use. It has been made available through Codan’s digital launch campaign to all drivers in Norway.

The technology, which provides data regarding driver behaviour over a 300km trial, allows customers a unique insight in to their driving behaviour and how this can be changed, ultimately leading to a discounted insurance premiums. This data, which is captured and analysed by The Floow, provides users with an end score and educational feedback, which is then used by Codan to reward safer driving with discounts of up to 20%.

This is the first time that the RSA group has offered a trial of their Usage-Based-Insurance outside of the UK, and the first try-before-you-buy smartphone application to launch in Norway.

The Floow, which employs 40 staff, was founded two years ago after gaining support from a business investment fund backed by Creative England, a not-for-profit organisation which uses public and private funds to support creative and digital industries. In late 2014, The Floow expanded its workforce after securing investment from the Direct Line Insurance Group. Last month, The Floow announced it was expanding its operations in to the US and Canada. It already has staff based in Italy, France and Switzerland.

Source: The Floow

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