Telematics provider The Floow has been appointed adviser to the government on its Uplift Project, which aims to explore how telematics may improve the UK’s position in the motor insurance market, while making insurance fairer, personalised and more transparent for motorists.

The Innovate UK project will be led by an interdisciplinary team of experts in data science, driving behaviour psychology and insurance, and will look to enhance technologies for improved risk understanding, improve insight into bias analysis, increase transparency, and ensure privacy and fairness for consumers. It will also be carrying out work on setting new industry standards in ethical data handling.

The greatest societal and economic impacts from the project are expected to lie in the reduction of accidents on UK roads, but it also aims to make premiums fairer.
CEO of The Floow, Aldo Monteforte said the project will also empower both the insurer and the insured.

“Through the UPLIFT project, we aim to define a blueprint for improving insurance products making mobility smarter and safer for all. For some motorists, the advent of big data can be scary, but in truth the new era of safer driving and personalised risk that telematics enables is empowering for the consumer – and will result in lower and fairer insurance premiums, fewer accidents and safer roads.”

Driving behaviour patterns have changed in recent years with the advent of new in-car technologies, vehicle performance and the pervasive use of mobile phones. A study by the Floow recently revealed that some 72% of UK drivers admitted to using their mobile phone behind the wheel.

Improved driver awareness of the risks of distraction, erratic motoring, tiredness and the dangers of driving at unsociable hours will deliver a significant improvement on UK road safety, at a time when the average crash currently costs the UK economy £83,893.

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