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Friday, 18 June 2021 20:19

Cambridge Mobile Telematics Acquires TrueMotion

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Cambridge Mobile Telematics (CMT), a leader in mobile telematics and analytics, has acquired TrueMotion, the second largest mobile telematics provider.

This acquisition, which closed June 16, unites the two leading companies in the rapidly growing mobile telematics industry.

 

CMT will now provide telematics services to 21 out of the 25 largest auto insurers in the U.S., and across more than 20 countries, including Canada, the UK, Germany, South Africa, Japan and Australia.

 

Mobile telematics, which did not exist a decade ago, is estimated to become a $125 billion market in the next five years, powering the next generation of digital auto insurance.

 

CMT’s platform combines sensor fusion, artificial intelligence and behavioral science to enable insurers, rideshare companies, fleet operators, automakers and the personal safety industry accurately measure driving risk, help drivers become safer and offer real-time crash assistance.

 

“With this acquisition, we will use our world-class talent, technology and scale to help our partners overcome the complex challenges of global road safety,” said William Powers, CMT’s CEO. “Both companies have helped transform the auto insurance industry, powering the shift from traditional rating models to usage-based and behavior-based insurance. We are excited to work together to bring telematics solutions to the users of the 1.4 billion vehicles on the world’s roads.”

 

“We’re thrilled to join CMT to enable the future of auto insurance,” said Ted Gramer, TrueMotion’s CEO, who will become CMT’s COO. “About a decade ago, both companies were founded in Cambridge with the same mission to make roads safer. Now, we are joining forces to accelerate this journey. This acquisition makes sense on so many levels.”

 

By focusing on how people drive instead of who they are, telematics programs provide...


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