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London Based Insurance Company Flock Nets $38m

A privately held insurance based industry founded in 2015 and headquartered in Liverpool Street, England. Flock is a UK based insurance firm aiming for a safer her appealing ride for their customers to make insurance a safe ride.   The firm hold specialties in Big Data, Data Analytics, Insurance, Insurtech, Fleet management, Autonomous Vehicles , Courier, Trades and much more.

In the recent funding round of Flock, Octopus Ventures served as the lead investor, with an active participation from CommerzVentures. Existing investors Social Capital, Dig Ventures, Anthemis and Foresight Ventures also joined the round were also the investors in the round.

The grossed funds by the firm are planned to be invested in to expand into new sectors of the commercial motor industry, and geographies.  

Thus the company is also planning for doubling it’s data-driven approach to risk quantification and dynamic pricing by leveraging  the size of its data science and engineering teams, as well as more than double its UK team in the number.

The company is the home of the world’s first real-time insurance product for car rental platforms, courier companies and corporate fleets and deals with around 600 commercial fleet customers, including Jaguar Land Rover, Europe’s largest electric car subscription company Onto, and a third of the UK’s independent Amazon fleets.

It also has real-time telematics data which helps customers understand risk and easily help them to identify high-risk drivers and routes.

What Are The Views Of Leading Members Of The Firm On This Flock CEO Ed Leon Klinger said, “At Flock, we believe that insurers should help customers save time, money, and even lives. With our radically different insurance model, enabled by an immense amount of data, we hope to actively reduce the number of people needlessly killed or injured on the road. The best possible claim experience is no claim at all. We want to help our fleet customers predict and prevent crashes – before they even take place.”

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