Telematics firm the Floow signs letter of intent with China-based CarSmart

The Floow has taken part in a milestone signing ceremony – marking its commitment to partner with a Chinese company. 

Representatives from Yorkshire-based company and Beijing CarSmart Technology, a subsidiary of publicly listed IT solutions and service provider United Electronics, came together at the Department for Business, Innovation and Skills yesterday at the sixth UK-China Internet Forum.

The signing ceremony, which marks a significant step forward for The Floow and its ambition to bring its bespoke telematics platform and analytics suite to the giant Chinese market, coincides with the state visit  of Chinese President Xi Jinping to the UK.

The ceremony was witnessed by Vice Minister Zhuang Rongen from the Cyberspace Administration Centre, China and Ed Vaizey MP, digital economy minister.

The Floow is an independent company currently supporting major global insurers - including Direct Line Group, RSA, AIG, and AAA – through device-agnostic predictive analytics and digital end-user services that increase customer loyalty.  

As the company’s client base has expanded, The Floow has grown from a team of just three to more than 50 expert scientists, engineers, designers and support staff in the three years since it was established in 2012. 

The announcement is the first step towards the formation of a Joint Venture between The Floow and CarSmart; a leading provider of internet-based auto services for consumers currently serving 3.2 million active Chinese users.

The Floow founder and CEO, Aldo Monteforte, and Carsmart general manager, Zhang Chunhui, met at the Department for Business, Innovation and Skills, in London, for the signing ceremony.

Monteforte said: “We are excited to now be in a position to publicly share the Floow and CarSmart’s joint vision and work to date on delivering telematics solutions that will contribute to safer and cheaper mobility for Chinese consumers, and one that can help automotive operators and authorities to cost-effectively monitor vehicle related emissions”.

“It is a significant development for The Floow, and testament to the hard work that has gone in to developing relations between the UK and China – especially where technology is concerned.”

The partnership has been supported by UK Trade and Investment and follows The Floow’s recent involvement in a business tour of South East Asia earlier this year led by Prime Minister David Cameron.