Cambridge Mobile Telematics acquires insurtech firm Amodo to expand in Europe

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Cambridge, Massachusetts-based Cambridge Mobile Telematics (CMT), a telematics service provider, announced on Wednesday, March 1, that it has acquired Amodo, a telematics company based in Zagreb, Croatia, and Vienna, Austria.

CMT says it aims to accelerate global expansion with this acquisition and will provide greater scale, speed, and innovation to the European market and beyond. 

CMT will also benefit from Amodo’s customer’s access to driver risk measurement, proactive crash and claims services, and behavioural modification to reduce driving risk. 

Cambridge Mobile Telematics: World’s largest telematics service provider

Cambridge Mobile Telematics (CMT), which claims to be the world’s largest telematics service provider, aims to make roads and drivers safer, globally. 

The company’s AI-driven platform, DriveWell, gathers sensor data from millions of IoT devices, including smartphones, proprietary Tags, connected vehicles, dashcams, and third-party devices, and fuses them with contextual data to create a unified view of the vehicle and driver behaviour. 

CMT serves millions of people through over 95 programmes in 25 countries, including 21 of the top 25 US auto insurers.

“CMT is rapidly expanding its global footprint beyond the United States, where CMT serves 21 of the top 25 insurers. In just the past few years, we’ve become the trusted partner for insurers and mobility providers on five continents,” said William Powers, CMT’s Chief Executive Officer. 

“We’re strengthening our European efforts by adding Amodo’s expansive market knowledge and deep relationships, and doubling our team in Europe to over 100 people to enable more European organisations to realise the incredible benefits of telematics — all while saving lives on the road,” adds Powers. 

AMODO: Insurance telematic company

AMODO enables insurance companies to create, promote and distribute new categories of Insurance Products built on customer behaviour and usage data.

Amodo Connected Insurance Platform enables insurers to create and brokers to place personalised usage-based insurance (UBI) products on the market. 

Over the past nine years, the European insurtech launched 50 connected insurance projects with companies such as AIG, Porsche Versicherungs, Tower Insurance, P&V, and others.

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