Flock is a London-based startup that offers a new kind of insurance for connected cars. Flock uses real-time data from the vehicles’ telematics to calculate the risk and price of each journey, and only charges the drivers when they are on the road. This way, Flock provides flexible, fair, and transparent insurance that adapts to the changing needs of modern drivers.

Flock was founded in 2015 by Ed Leon Klinger and Antton Peña, two graduates from the University of Cambridge. The idea for Flock came from their academic project on drones, where they realized the potential of using data to improve safety and efficiency in transportation. They decided to apply their insights to the car insurance market, which they saw as outdated and inefficient.

Flock started as a drone insurance provider, offering pay-as-you-fly policies for commercial and recreational drone operators. Flock then expanded to the commercial vehicle insurance market, partnering with some of the largest fleets in Europe, such as Skyports, Zoom, and Splend. Flock’s technology enables these fleets to optimize their operations, reduce costs, and improve safety.

In 2021, Flock launched its connected car insurance product, which is aimed at individual drivers who own or use connected cars. These are cars that have built-in sensors, cameras, and GPS that can communicate with other devices and networks. Flock’s app connects to these cars and analyzes their data to provide personalized insurance quotes for each trip. Flock also rewards drivers for driving safely and sustainably, by offering discounts and incentives.

Flock’s business model is based on taking a commission from each insurance policy sold, as well as generating revenue from data analytics and insights. Flock works with underwriters such as Allianz and Munich Re to provide insurance coverage for its customers. Flock also collaborates with car manufacturers, such as Volvo and Jaguar Land Rover, to integrate its app with their vehicles and offer insurance as an add-on service. Flock has raised $22 million in funding so far, from investors such as Social Capital, Anthemis, and Dig Ventures. Flock’s vision is to become the leading insurance company for the future of transportation, where autonomous vehicles, electric cars, and shared mobility will dominate the market. Flock aims to use data and technology to make transportation safer, smarter, and greener for everyone.

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