TransUnion yesterday announced that it has partnered with leading telematics services provider, The Floow.
The objective of this partnership is to provide telematics insights to insurers with which they can improve their overall customer experience and adjust their businesses per market shifts amid the pandemic.
As part of the collaboration, TransUnion will offer insurers Floow’s four major telematics solutions – FloowDrive, FloowFleet, FloowKit and FloowScore.
These solutions complement TransUnion’s broad data set and are capable of providing a comprehensive picture of consumers and businesses. Their predictive power offers higher accuracy in risk and price policy measurement compared with traditional risk models.
Mark McElroy, executive vice president and head of TransUnion’s insurance business unit, said, “At a time of unprecedented market disruption, our partnership with The Floow can help deliver unique, actionable insights to insurers.”
Notably, TransUnion shares have gained 9.9% over the past three months, outperforming the 4.7% rally of the industry it belongs to and 8.6% growth of the Zacks S&P 500 composite.
About The Floow
The Floow support the world’s leading insurers with mobile experiences and predictive analytics that increase customer engagement and safety. The Floow’s team has radically transformed conventional telematics by spearheading the use of smartphones as sensors, and harnessing contextual analysis for enhanced prediction of claims propensity.The team at The Floow combine their expertise in software engineering, data and social sciences, advancing the insurance risk management frontier.
Source: Yahoo!
