A year ago, CMT acquired Amodo to strengthen its European team and presence. Today, we have more than 120 telematics experts supporting our partners across Europe.

In celebration of this milestone, we sat down with Marijan Mumdziev, Managing Director for Europe, to talk about the last 12 months. He explores the team’s successes, discusses the benefits CMT delivers to European drivers, reviews how trends are shaping the insurance market, and looks to the year ahead.

The interview has been edited for length and clarity.

CMT: What key milestones defined the last 12 months for you?

It has been a very exciting time. I’m extremely proud of what our organization managed to achieve.

Two major accomplishments come to mind. First and foremost: people. The team was virtually unaffected by the acquisition. When you consider the current economy and societal context, this is not only a real achievement but also a testament to how we prioritize the well-being of our employees. 

It is also important to note that culture was our anchor during the transition. The fact that most of the employees shared the company vision helped us navigate through this period.

The second thing that was extremely important for us was to prove that the European market would recognize the quality and strength of CMT, which we ultimately validated by partnering with the largest insurers in Europe in our first year as a combined team.

CMT: What are the main benefits European insurers and drivers get from CMT?

No other organization globally has invested so much in product development as CMT. What we managed to achieve over the last year was to bring state-of-the-art technology to European customers.

Combining and adjusting CMT’s offering to the European market is something that benefits drivers as well. European insurance companies are an extremely important part of the value chain in bringing over the value that our technology creates. So, ultimately, European drivers can enjoy the benefits of having the most reliable technology when it comes to crash assistance, risk measurement, and driving improvement techniques, to name just a few.

CMT: How did CMT adapt its product offerings to meet the demands of the European market?

Adjusting the product to fit local markets is extremely important. CMT has partners in Japan, Australia, South East Asia, Latin America, and Africa, so this is something CMT does exceptionally well. We recognized from the start that different markets have different characteristics and different needs. 

The European market is very focused on and, in general, values sustainability. We invested in researching sustainability to understand how we could contribute and support the new agenda with the technology we have developed. We also published the most comprehensive report on sustainable motor insurance.

We delivered eco-score technology and functionalities to European partners. It’s already deployed in half a dozen programs. We’ve accumulated a huge amount of data on sustainability solutions and have even more to offer now to European insurance companies.

CMT: Besides sustainability, what other trends are shaping the European insurance market?

One that stands out is the increase in claim costs. It is driven by a number of different market forces, but the dominant one is inflation. Especially today, we need to seek ways for technology to help reduce claim costs and claims frequency. This is where we contribute significantly to our partners’ profitability with our DriveWell Crash & Claims solution. They offset the negative aspects of inflation and keep claim costs under control, so an insurer’s business can be even more sustainable.

CMT: How do you feel about the progress the team made in the last year, and what are your expectations for this year?

I feel great. The teams are now fully integrated, great processes have been put in place, and the product is already adjusted for the European market. We got the machine going, and it’s already proved to be exactly what the European insurance market needs today.

So, the next two years are going to be great for us. We have never been stronger in Europe. We have more than 120 people serving just the European market. And, practically within 12 months, we became the leading insurance telematics solution provider for the European market. So, the sky is the limit.