Insurance partnership rewards fleets that invest in telematics

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FLEET management and vehicle telematics business LEVL has announced a partnership with Flock, a London-based insurtech, to bring the benefits of connected insurance to `customers.

Fleets working with LEVL will have the ability to take advantage of Flock’s data-driven fleet insurance offering, gaining access to risk insights to help improve safety standards while reducing insurance premiums.

By connecting with a vehicle’s telematics, motor policies provided by Flock are priced based on the trips they make and the risks they take. As fleets take steps to improve safety, they are automatically rewarded with lower per-mile insurance rates.

Flock Chief Executive Ed Leon Klinger, said “Connectivity is key to unlocking fairer, more flexible insurance. By analysing vehicle telematics, we’ve helped fleets save as much as 25% over traditional policies.

“Partnering with the world’s leading telematics providers and distributors is core to our approach. That’s why today we’re excited to join forces with LEVL to help their customers save time and money, while keeping safety at the heart of everything they do.”

By integrating with LEVL’s Geotab telematics platform, Flock is able to provide LEVL customers with an analysis of the activity of every vehicle in a fleet to produce fleet insurance policies, based on driver behaviour, that are tailored to each business they work with.

Cost of insurance will be dependent on driver habits and behaviours including driver speed, routes taken, and more. Not only will this partnership provide LEVL’s customers with access to a more customised insurance offering, but it will also help to encourage drivers to improve their driving behaviour while on the road.

Alongside insurance, fleets utilising Flock are provided with risk insights that encourage better behaviour. As fleets take steps to improve safety, they are automatically rewarded with lower per-mile insurance rates.