Foresight Group has invested £1.5 million in Flock Limited, an innovative insurtech company transforming commercial fleet insurance through real-time data and telematics.

Information on the Target

Flock Limited, known as Flock, is a pioneering digital insurtech Managing General Agent focused on reinventing commercial fleet insurance. Through the utilization of real-time data, Flock aims to enhance the safety of driving practices within commercial fleets. The company launched its first real-time insurance product in 2020, specifically designed for car rental platforms, courier services, and corporate fleet operations. Flock has quickly become an industry leader, serving over 600 commercial fleet clients including major names like Jaguar Land Rover and the electric car subscription service, Onto.

Leveraging its innovative telematics approach, Flock has successfully reduced the crash frequency of its customers by 10%. This achievement is a direct result of using telematics data to identify high-risk drivers and routes, enabling clients to enhance their risk management and driving safety protocols significantly.

Industry Overview in the UK

The commercial motor insurance market, valued at approximately $200 billion globally, is projected to grow to $310 billion by 2030. In the UK, the insurance sector is undergoing rapid transformation through technologica