Adam Smith (00:01.614)
Good afternoon, everyone. Welcome to this live Q &A. We'll start in about 30 seconds, so we'll just give people time to filter in. But today, Flock are doing a live webinar on the back of the exciting Admiral Capacity launch that we announced a couple of weeks ago. So today's webinar is to give our broker audience the chance to ask questions about the day -to -day trading activity of this new partnership. It's a really, really exciting time to have joined.

My name's Adam Smith, I'm a Senior Broker Development Manager at Flock. I've got the easy job of asking the questions today. So we've got two panel experts that are going to guide us through this webinar and hopefully give you answers to the questions. Please feel free to put the questions into the chat. We've had some pre -submitted questions already that we'll work through, but please feel free to put them into the chat and if we get time, we'll work through them. over to the guys, so I'll hand over to Tom initially. Tell us a bit about you, Tom, and what you do at Flock.
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Tom Rogers (01:01.272)
Thanks Adam. Yeah, so anyone in the audience that doesn't know me, I'm Tom Hodges. I head up the underwriting team at Flock. I've had the pleasure of working here now for over three and half years and seeing all the exciting things and development in our proposition and product. I'm very much looking forward to the next five years and then we'll get into more of that in a moment.
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Adam Smith (01:22.99)
Fantastic, thanks Tom. And we're also joined by Chris from our new partner, Admiral. So Chris, do you do the same? Tell us a little bit about what you do at Admiral.
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Chris Jones (01:32.224)
Excellent, yeah, thanks, thanks Adam. So Chris Jones, CFO for Admiral Pioneer, which is Admiral's corporate venture building business. And it's this part of Admiral that's partnered with Flock. And for those of who don't know about Admiral, hopefully you do, it's a household name in the private motor insurance industry, but doesn't do lots in the commercial space. So it's really exciting to be talking to you about what we're doing today.
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Adam Smith (01:54.862)
Fantastic. Thanks, Chris. Right, without further ado, let's get into it. So I thought it'd be a really good starting point just to recap what we launched. So there's a webinar on this that the two CEOs did last week. But Chris, can you start by telling us a little bit about what exactly of the two companies launched together?
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Chris Jones (02:14.018)
Yeah, absolutely. I think there's a nice webinar that sort of the two CEOs are talking sort of fireside chat between themselves. But I think just to recap, I I mentioned it's some firsts for Avril. I mean, this partnership takes Avril, it's an MGA capacity partnership where Avril are the insurance company providing the capacity. And it launches us into the fleet space and allows us to sort of partner with Flock who've already got a significant footprint in this space across a few segments, Korea, own goods, trades, importantly I think it's the highly connected, full use of Telematics fleet proposition, and it's a five year capacity partnership deal.
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Adam Smith (03:00.248)
Fantastic, yeah, really exciting. I joined Flock at the start of April, so couldn't have joined at a more exciting time. yeah, please do go and find that webinar. It's a really good watch between Ed and Emma, the two CEOs. So yeah, if you want to find out a bit more, it's there. Right, we'll dive into the broker submitted questions now. So yeah, as I said, we've had some in. So we can start by the first question we'll put through. What is the proposition that we're selling?

Tom, tell us about it. Is it still all the great elements of our proposition that we sell today, that brokers and fleets love? Tell us a bit about what we're selling.
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Tom Rogers (03:41.252)
Yep, so the good news is effectively it is everything you could have expected in the past in terms of our proposition. We still have full access for all our fleet customers and brokers to the portal, which includes the rebate section. So all of our policies include a rebate as standard. Up to 10 % of the policy premium is refunded, subject to certain criteria. You also have the claims screens. You also have access to digital claims reporting. Actually, I think it's probably a good segue
actually for anyone that's not seen it before just have a quick quick video on this.
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Tom Rogers (04:19.244)
Yeah, so can see here on the portal, some of the screens as we click through, have full transparency in terms of things like loss ratio, how much rebates have been accumulated, you can see the safety score of fleets, the average time to report, these are the metrics you can see below that form the basis of the rebate itself. So all the great things you can expect from the product that you've seen in the past, and it's ever evolving because we're always constantly listening to feedback from our brokers and our customers and our fleet owners.
So yeah, lots more to come in this space.
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Adam Smith (04:53.806)
Fantastic. Thanks, Tom. Anything else to add on that?