CAMBRIDGE, Massachusetts, September 6, 2017 – Admiral, voted “Best UK Car Insurance Provider”, selected Cambridge Mobile Telematics (CMT), named “best-in-class” smartphone telematics service provider, to develop and launch a behavior-based smartphone telematics program in the UK. This accurate, easy-to-implement program will enable Admiral to expand its existing telematics service to a much broader UK audience.
CMT pioneered Behavior-Based Insurance (BBI), which is an innovative way for insurers to capture driving performance for setting insurance premiums, mitigating risk, and encouraging safer driving. Through CMT’s advanced technology in analytics, and machine learning, risky driving activities such as phone distraction, hard braking, abrupt acceleration, sharp cornering, and speeding, can be captured using mobile sensors on the phone. In addition to obtaining a snapshot of a driver’s behavioral profile, feedback and gamification are provided to him or her through a mobile app, resulting in better and safer driving habits.
Gunnar Peters, Head of Telematics at Admiral, said: “Admiral has always been a leader in telematics insurance in the UK and we are always looking for ways to improve our products for customers. We are delighted to have teamed up with CMT, who can bring their cutting-edge technology and proven expertise to our future telematics developments.”
Automobile injuries and crashes – 50 million annually – are a serious worldwide problem. According to the World Health Organization, about 1.25 million people die each year in traffic- related collisions. Through its DriveWell program, CMT’s mission is to make drivers safer by providing valuable feedback about each trip, driving tips, mapped events, and gamification.
“We have found that through behavior awareness and incentives, people actually do drive better and have a much lower risk of getting into an accident. Admiral shares our vision and wants to reward their customers for driving safely,” says William Powers, Chief Executive Officer at CMT. “Together, we will launch a successful, behavior-based insurance model offering Admiral customers an accurate, personalized solution to improve driving performance.”
Admiral is a UK based insurance company, set up in 1993 to specialise in car insurance. Admiral also offers a range of other insurance products including home, travel, pet, and van insurance. Admiral has been voted Best Car Insurance Provider by consumers four years running at the Personal Finance Awards. Admiral has operations in the US, France, Spain and Italy. For more information, visit admiral.com.
About Cambridge Mobile Telematics
Cambridge Mobile Telematics (CMT) makes roads and drivers safer around the world. Founded in 2010 by two MIT professors and experienced entrepreneurs, CMT pioneered telematics for behavior-based insurance (BBI) and deployed the first solution to provide both traditional vehicle-centric UBI and BBI. With over 20 customers in 14 countries, CMT has a proven record of changing driver behavior: an average reduction of 35% in phone distraction, 20% in hard braking, and 20% in at-risk speeding all within less than 30 days of using the program. For more information, please visit cmtelematics.com and follow on Twitter @cmtelematics.
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