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Sunday, March 3, 2024

NIG, Flock staff as much as introduce digital motor fleet insurance coverage

British industrial insurance coverage supplier NIG has fashioned a strategic partnership with insurtech firm Flock to introduce digital motor fleet insurance coverage.

Beneath the collaboration, the businesses will work collectively to implement a data-driven, digital method for motor fleet insurance coverage.

The businesses plan to supply a completely digital insurance coverage administration portal and supply incentives for selling secure driving practices.

The partnership additionally contains offering complete security and claims workshops to all the purchasers.

The joint effort is geared toward serving to firms develop their present danger protection capabilities inside a number of industrial motor segments.

Flock stated that the newest partnership marks a key step in direction of its progress, and comes shortly after the corporate raised greater than £30m ($37.7m) in its Collection B funding spherical held earlier this yr in February.

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Primarily based within the UK, Flock specialises in linked insurance coverage for industrial motor fleets. It makes use of a telemetry-based method to handle motor insurance coverage pricing in addition to for danger administration.

Flock additionally presents essential security interventions, together with rebates for safer driving and clever pricing, to fleet homeowners.

Flock CEO Ed Leon Klinger stated: “Flock’s partnership with NIG is a pivotal improvement in our journey to redefine fleet insurance coverage.

“This collaboration permits us to deliver our product to a a lot wider viewers, and leverage our a whole lot of tens of millions of miles of driving information to assist many extra drivers change into safer.”

NIG, a completely owned subsidiary of Direct Line Group, presents a variety of non-public and industrial insurance coverage merchandise.

It additionally supplies customised insurance coverage cowl to deal with the precise necessities of its shoppers.

Direct Line Group appearing industrial managing director Sonya Bryson stated: “We’re excited to associate with Flock, bringing a recent, data-driven method to the motor fleet market.

“This collaboration aligns with our dedication to innovate customer-centric options.”

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