Flock inks deal to launch taxi fleet insurance product

Insurtech Flock has partnered with The Acorn Group to launch a new UK taxi fleet insurance product.

The proposition will cater to medium and large taxi fleets, leveraging vehicle telemetry data to enable and reward safer driving practices.

It will target both public hire fleets, including black cabs, and private hire fleets. 

Flock said the solution would ”transform the UK taxi fleet insurance landscape” and was the country’s only “connected” taxi fleet insurance product.

Ed Leon Klinger, chief executive of Flock, said: “Partnering with The Acorn Group is a hugely exciting step for us.

”We have been so impressed with Acorn’s swift, common-sense approach and I particularly like that The Acorn Group shares in our mission to make the world quantifiably safer.

”We’re thrilled to be helping taxi fleets improve driving safety whilst saving time and money.”

Access

All customers will receive access to a comprehensive fleet safety dashboard, driver and trip-level insights, as well as regular face-to-face safety reviews provided by the Flock team free of charge.

”By harnessing the power of real-time telemetry data, the partnership aims to enhance driver safety and offer premium rebates as tangible incentives for improved driving behaviour – ensuring that fleets become progressively safer and more cost-efficient over time,” Flock said.

Mike Lloyd, chief executive of The Acorn Group, added: ”Insurance is one of the largest costs for taxi fleets. Flock’s platform allows fleet owners to properly understand those costs – including which drivers and what behaviours are really costing them money.

”Using this platform, and acting on the data, will allow fleet owners to improve their financial returns.

”Flock’s technology has also consistently demonstrated its ability to significantly enhance fleet safety. We think the best and biggest taxi fleets will want this technology.”