Admiral Group has acquired London InsurTech Flock for 拢80m.
Flock has revolutionised motor fleet insurance through its fully digital platform.
The easy-to-access digital channel uses proprietary AI-driven risk models trained on hundreds of millions of miles of real-world driving data to reward commercial motor customers demonstrating improved safety throughout the lifetime of a policy.
It now provides insurance for hundreds of connected vehicle fleets which receive personalised, real-time safety guidance and recommendations based on live driving patterns.
Admiral鈥檚 UK Insurance business insures almost six million motorists and is known for its innovation and leadership in data.
It is one of the market leaders in telematics products, offering discounted premiums for good driving practice.
Flock will become Admiral鈥檚 telemetry fleet insurance proposition, and its existing technology platform and the team will form an important part of Admiral鈥檚 fleet insurance offering.
Flock鈥檚 CEO, Ed Leon Klinger, will join Admiral Pioneer鈥檚 leadership team.
The transaction is expected to complete in Q2 2026 and will be funded through existing resources and credit facilities.
Emma Huntington, CEO of Admiral Pioneer, said:聽鈥�30 years ago, Admiral started life as an entrepreneurial challenger, committed to using data and technology to deliver better prices and service for customers.
鈥淗aving partnered with Flock since 2024, we鈥檝e seen first-hand how successfully they鈥檝e applied a similar approach to the commercial motor insurance market.
鈥淭his acquisition will give us immediate access to a high-growth segment, proven technology and a scalable platform. We are looking forward to working with Ed, Antton and the team to deliver high-quality cover and service to both new and existing fleet customers, and safer roads.鈥�
Ed Leon Klinger, CEO of Flock, said:聽鈥淥ur mission at Flock has always been to make the world quantifiably safer, with a belief that insurance should help reduce accidents, not just pay for claims.
Flock founders: Ed Leon and Antton Pen虄a
鈥淥ver the last decade, we pioneered a dramatically different approach to the industry, using real-time data and AI to reward safer driving habits, and reduce fleet customers鈥� costs.鈥�
Antton Pe帽a, founder of Flock, added: 鈥淭his acquisition by Admiral brings together our technology with Admiral鈥檚 best-in-class service, enabling a stronger and broader proposition for fleets and brokers. We are excited about the journey ahead alongside Admiral, our broker partners, and fleet customers.”
Flock has raised over 拢40m from leading VC investors including Octopus Ventures, Commerz Ventures, Chamath (Social Capital), and Anthemis Ventures.
By leveraging real-time telemetry data and advanced risk management techniques, Flock enables safer driving practices and provides significant cost savings for fleet customers.
GP Bullhound is acting as exclusive financial advisor and Clifford Chance as legal advisor to Admiral Group in connection with this transaction. Continuum is acting as exclusive financial advisor and Osborne Clarke as legal advisor to Flock in connection with this transaction.