Offering will provide drivers with deeper understanding of their actions and responsibilities behind the wheel
ARLINGTON, VA and CAMBRIDGE, MA, September 1, 2015 — Global professional services company Towers Watson (NASDAQ: TW) and Cambridge Mobile Telematics (CMT), a telematics technology provider using advanced mobile sensing, data analytics and behavioral science, announced an agreement to provide a jointly developed comprehensive usage-based auto insurance (UBI) solution and other value-added telematics analytics services to customers. The offering is intended for a variety of vehicle telematics stakeholders and will be available globally except in Canada and South Africa.
“This venture is significant because it enhances our data insights and analytics offering by including smartphone-based data,” said Robin Harbage, global lead for Towers Watson’s UBI product delivery. “It also provides us with a deeper range of sensor types for risk assessment and R&D opportunities with smartphone-based technology. Overall, it enables us to deliver even richer services to clients in the telematics market. We’re excited about collaborating with CMT.”
The joint offering will include Towers Watson’s DriveAbility® program, analytics and insurance expertise combined with CMT’s flagship DriveWell™ smartphone telematics solution and lightweight hardware Tag option. The venture brings to market a comprehensive smartphone UBI solution that can be implemented by insurance carriers within the automotive property & casualty market, auto and truck original equipment manufacturers, consumer telematics device providers and end customers of mobile network operators.
“With UBI quickly gaining traction across the globe, insurers are searching for innovative ways to introduce telematics to their customers,” said Hari Balakrishnan, chief technology officer, CMT. “Combining our products with Towers Watson’s program and services will further strengthen the ability for customers to measure driving performance in a scalable way. Through this collaborative venture with Towers Watson, we will pave the way for insurers worldwide to adopt an accurate and compelling telematics solution, furthering CMT’s mission of making roads safer by making drivers better.”
About Towers Watson
Towers Watson (NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. With 16,000 associates around the world, the company offers consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management. Learn more at towerswatson.com.
About Cambridge Mobile Telematics
Cambridge Mobile Telematics (CMT) makes roads and drivers safer around the world. CMT’s patented intellectual property and technologies, highlighted in its flagship DriveWell offerings, are embedded in multiple popular mobile applications. DriveWell™, a smartphone application, and DriveWell Plus™, an app+tag solution, are triggering big improvements in driving behavior and changing the global insurance market. For more information, please visit cmtelematics.com.
+1 407 617 1765