Admiral Group has completed its £80 million acquisition of London InsurTech Flock.
Flock, which has raised over £40m from leading VC investors including Octopus Ventures, Commerz Ventures, Chamath Palihapitiya (Social Capital) and Anthemis Ventures, has revolutionised motor fleet insurance through its fully digital platform.
It uses AI-driven risk models trained on hundreds of millions of miles of real-world driving data to reward commercial motor customers who have demonstrated improved safety throughout the lifetime of a policy.
Flock provides insurance for hundreds of connected vehicle fleets which receive personalised, real-time safety guidance and recommendations based on live driving patterns.
Admiral’s UK insurance business insures almost six million motorists and already offers discounted premiums for good driving practice. Admiral Pioneer, the group’s venture building business, first partnered with Flock in 2024, giving it early insight into the strength of the firm’s proposition.
Since the deal was announced in February, Flock has entered the haulage market, onboarding 20 customers, and also reduced the minimum fleet size for taxi insurance customers from 25+ to 5+ vehicles, opening the market to thousands of smaller operators across the UK.
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“Our mission has always been to make the world quantifiably safer,” said Ed Leon Klinger, CEO of Flock.
“Being part of Admiral means we can pursue that across a much bigger share of the UK motor market.
“Combining Flock’s AI-powered platform with Admiral’s scale and expertise is something we have been hugely looking forward to. I couldn’t think of a better home for what we’ve built”.
Flock will become Admiral’s telemetry fleet insurance proposition. Klinger will join Admiral Pioneer’s leadership team.
GP Bullhound acted as exclusive financial advisor and Clifford Chance as legal advisor to Admiral Group in connection with the transaction. Continuum acted as exclusive financial advisor and Osborne Clarke as legal advisor to Flock.
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