Born of drone tech, insuretech Flock raises $38M Series B to nudge commercial drivers towards safety


It’s only human nature. If you tell a driver their insurance premium will go down if they drive more safely, then – it turns out – they will probably drive more safely. Scale that up to entire commercial fleets and the costs saving can become extremely significant. However, the trick is to do the tracking in the first place.

So it’s fascinating to think that research into how to insure drones led to the creation of U.K. startup Flock, which uses real-time data to insure car fleets.

Ed Leon Klinger and Antton Pena were both working on two academic research papers, the former at Cambridge University, the latter at Imperial College London, when they had an idea. “The first product we launched was in the drone industry. It was a pay-as-you-fly drone insurance product that used drone data. And, actually, that was our stepping stone into commercial motor. We built technology. And we built a capability to use real-time data by being born in the drone industry,” Klinger tells me.

Read the full article in TechCrunch.