CAMBRIDGE, Mass.–(BUSINESS WIRE)–To save lives by making the roads safer for clients and the communities in which they operate, the Norman-Spencer Institute of Risk Management and Safety (The Institute) has deployed Cambridge Mobile Telematics’ (CMT) DriveWell Fleet Program. The telematics-based program enables the Institute’s customers to more effectively monitor fleet performance, improve driver safety and reduce the risks that lead to crashes.
The Norman-Agency, Inc., launched the Institute as a public benefit corporation to help clients improve driver safety through the utilization of leading edge technology, enhanced loss control tools and collaborative risk management best practices. One of the key services offered by the Institute is CMT’s best-in-class telematics program, which has proven to significantly improve driver safety. The CMT solution produces, on average, a 35 percent reduction in distracted driving due to phone usage and a 20 percent reduction in hard braking after only 30 days of using the program.
“CMT offers an advanced methodology for accurately capturing, aggregating and analyzing telematics data and a proven track record of improving driving behavior and making roads safer,” said Mark Aussicker, Chief Claims Officer for Norman-Spencer and the President of the Institute. “For us, that translates into safer roads, fewer accidents, improved loss ratios and stronger partnerships with our clients.”
The Institute’s client base includes owners of small to medium fleets ranging from tow trucks to concrete mixers and cranes. Through CMT, the Institute’s customers will receive real-time location data to help optimize fleet management, reduce operating expenses and mitigate driving-related risks. The CMT platform also provides detailed crash telematics data and analytics – which leads to faster, smarter and more-informed claim decisions, while equipping fleet owners with actionable feedback that helps improve coaching and performance-improvement strategies.
“Last year, the commercial auto insurance industry reported its worst underwriting performance since 2001, with a combined ratio of 110.4 percent,” said Katherine Wellman, VP of Product & Marketing at CMT. “Top providers like Norman-Spencer and the Institute are breaking through industry norms and gaining an incredible competitive advantage by deploying a telematics solution designed to make roads safer, improve loss ratios and increase customer retention.”
For more information, visit www.CMTelematics.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.
About Norman-Spencer Agency, Inc.
Norman-Spencer provides industry leading insurance services to clients and insurance buyers nationwide with over ten proprietary in-house property and casualty insurance programs covering industries like marine, transportation, construction, watercraft and professional lines. For more information, visit www.norman-spencer.com. Follow Norman-Spencer via Facebook, LinkedIn and Twitter.
Cambridge Mobile Telematics
Syed Ali Haris