Cambridge Mobile Telematics (CMT), a telematics service provider, has acquired fellow telematic company Amodo to expand the use of telematics in Europe.
CMT is on a mission to make the world’s roads and drivers safer. The company’s AI-driven platform, Drive Well, gathers sensor data from millions of IoT devices, including smartphones, connected vehicles, dashcams and third-party devices, and fuses them with contextual data. This creates a unified view of vehicle and driver behaviour.
CMT’s DriveWell Score provides safe driving measurement and fast feedback through an online app, allowing Buckle’s insured members to review their trips and understand their own driver and vehicle behaviour, as well as safety level.
According to CMT, the acquisition brings together two telematics companies with large and growing footprints in Europe.
This, the company continued, will give Amodo’s customers access to the most advanced telematics solutions for driver risk measurement, proactive crash and claims services, and behaviours modification to reduce driving risk.
According to CMT, telematics is primed for significant growth in the European market, which has over 277 million vehicles, matching North America.
Further, since the Covid-19 pandemic, consumer interest in telematics programs has increased in continental Europe, with 65% of drivers saying they would opt for usage-based insurance if their insurer offered it.
William Powers, CMT’s chief executive officer, said, “CMT is rapidly expanding its global footprint beyond the United States, where CMT serves 21 of the top 25 insurers. In just the past few years, we’ve become the trusted partner for insurers and mobility providers on five continents.
“We’re strengthening our European efforts by adding Amodo’s expansive market knowledge and deep relationships, and doubling our team in Europe to over 100 people to enable more European organisations to realise the incredible benefits of telematics — all while saving lives on the road.”
Last year, Driven Telematics, a company that helps families with their auto insurance rates, partnered with CMT to help teen drivers improve driving safety and save on auto insurance.
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