Jaguar Land Rover’s on-demand rental platform has selected Flock’s usage-based fleet insurance, the insurer confirmed.
The premium car rental service allows customers to hire vehicles and get them delivered to their homes or offices. It was launched by Jaguar Land Rover’s mobility venture capital arm, InMotion, in 2019.
The usage-based fleet policy provided by Flock means The Out will only pay for insurance when vehicles are on hire. All vehicles will arrive with customers automatically insured by Flock and ready to drive.
Jaguar Land Rover said it will also take advantage of Flock’s risk mitigation technology engineered to reduce road accidents. This technology produces insights that reportedly help Flock customers improve safety. It generates these insights by combining data from vehicle telematics with a range of other datasets, including decades of accident data, crime reports, and real-time traffic flows.
Tom Fawcett, MD of The Out said: “Flock Motor is miles ahead of the competition. Their team moved quickly to provide us with a policy that aligns our insurance costs with the vehicles we have on hire. Flock’s insights will help us scale whilst continuously optimising for driver safety and profitability.”
Flock’s CEO, Ed Leon Klinger, added: “Renting a car should be easy and seamless, but the traditional insurance industry didn’t get the memo. Inflexible insurance products are now one of the last remaining hurdles when it comes to flexible car usership.
“Flock is proud to be providing The Out with a fully flexible, usage-based insurance product, and we’re even more excited about how our real-time risk insights will help the Jaguar Land Rover fleet improve safety over time”