Source: City AM

Motor fleet insurtech Flock has partnered with industry giant Admiral’s venture-building business to expand its product range and appeal to a broader base of customers.

Flock said the initial rollout with Admiral Pioneer would target courier fleets and business fleets, including tradespeople, service vehicles and short-term rental companies.

Flock added that the partnership would aim to “transform UK fleet insurance with advanced technology and real-time risk management solutions”.

It uses telematics to provide real-time data on driving behaviour. Clients include Jaguar Land Rover and Amazon, with Flock currently insuring around one-third of its UK delivery fleets. Flock enables fleets to earn up to 10 per cent of their policy premium back if they improve safety during the policy term or drive less than expected.

Co-founder and chief executive Ed Leon Klinger called the partnership with Admiral a “pivotal moment”.

“Admiral Pioneer’s pricing, underwriting and claims management capabilities perfectly complement Flock’s technological expertise, data-driven approach and deep understanding of commercial fleet customers. Our combined strengths will lead to safer roads and more efficient fleet operations across the UK.”

Emma Huntington, CEO of Admiral Pioneer, commented: “Our rigorous partner selection process ensures that we align with companies that not only disrupt the market but also share our values and vision. Flock stood out due to their innovative approach, strong leadership team and cultural alignment with us. With a strong synergy, we are well positioned to deliver exceptional value to our customers.”

Read full article: https://www.cityam.com/flock-london-insurtech-partners-with-ftse-100-giant-admiral/