Cambridge Mobile Telematics Wins TU-Automotive Award for Second Year in a Row [Yahoo Finance]
Earlier this month, Cambridge Mobile Telematics (CMT), the world’s largest smartphone telematics provider, was awarded the Best Auto Digital Insurance Product Award from TU-Automotive Detroit for the second year running. The TU-Automotive Awards recognize excellence and innovation in connected car and automotive technology. Key criteria for the award include innovation, industry engagement, user experience and market uptake.
The two awards recognized CMT’s DriveWell platform and the DriveWell Tag solution. The DriveWell platform uses mobile sensing and statistics to measure and score driving quality, helps drivers become safer drivers via engaging incentives rooted in behavioral science and uses machine learning to reconstruct crashes. These products enable insurers to price risk more accurately, lower loss ratios, automate claims processing, and offer emergency roadside assistance.
The DriveWell Tag is an optional, fully-wireless, windshield-mounted Bluetooth device with its own high-quality inertial sensors, which augments the phone’s sensors to capture, measure, and store driving events and crash data. To date, more than eight million DriveWell Tags have been shipped to customers. The Tag, which CMT invented in 2014, powers CMT’s phone+Tag solution; millions of CMT’s users also use phone-only solution. The phone+Tag solution guarantees that only driving in insured vehicles are measured, while capturing driving events even when the phone is absent. The Tag helps CMT improve the accuracy and quality of its phone-only solution by providing a source of live ground truth from the millions of phone+Tag users.
“We are proud of the solutions that we have created for our customers and the partnerships we have established to bring DriveWell to millions of drivers worldwide,” said Hari Balakrishnan, CMT’s co-founder and chief technology officer. “We thank TU-Automotive for recognizing the impact of our team’s work.”
More than 35 customers in more than 25 countries use CMT’s DriveWell platform. Notable insurers who use the phone+Tag solution include State Farm, Liberty Mutual, Erie, Travelers, AIG, State Auto, Admiral, HUK-Coburg and Insurance Australia Group.