Flock and Acorn forge new era for taxi fleet insurance
London-based Insurtech firm Flock has announced a partnership with The Acorn Group, aimed at reshaping the UK's taxi fleet insurance sector.
The partnership introduces the nation's only "connected" taxi fleet insurance product.
Designed for medium and large taxi fleets, the collaboration leverages vehicle telemetry data to incentivise safer driving. By using real-time telemetry data, the partnership intends to enhance driver safety and offer premium rebates for improved driving behaviour. The result is a safer and more cost-efficient fleet over time.
Flock and Acorn will focus on public hire fleets, such as black cab fleets, as well as PHV (private hire) fleets. All customers will gain complimentary access to a comprehensive fleet safety dashboard, including driver- and trip-level insights, along with regular face-to-face safety reviews provided by Flock.
Ed Leon Klinger, CEO 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.”
Mike Lloyd, CEO of The Acorn Group, said: "We are excited to embark on this journey with Flock. 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. The Acorn Group, and our underwriter Haven Insurance Company Limited, are well-renowned in taxi insurance – and we hope this partnership with Flock will mark a milestone in the evolution of fleet insurance, setting a new standard for safety and how taxi fleets are managed.”
