Automobile injuries and crashes — 50 million annually — are a serious worldwide problem. At Cambridge Mobile Telematics (CMT), our mission is to make the world’s roads safer using mobile sensing and IoT, machine learning, and behavioral science. We have developed DriveWell, a complete telematics and behavioral analytics solution, to improve safety for the connected car world. DriveWell provides actionable insights on driver behavior and vehicle dynamics to auto insurers, fleets, auto makers, wireless carriers, and government agencies, and is being used successfully by over 25 customers on 6 continents.
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 a billion miles of driving data, 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. With DriveWell, insurers report fast customer growth (e.g., 2x growth rate compared to earlier), lower loss ratios (e.g., 34% lower crash rates, 19% less-severe claims, and 10% lower loss ratio compared to blackboxes), and greater customer retention rates.
We have an outstanding team of experts in mobile sensing and IoT, machine learning, big data analytics, and statistics. We work on several innovative technologies and products that are changing the insurance and connected-vehicle ecosystem: