Cambridge Mobile Telematics (CMT), the world’s largest smartphone telematics provider, recently received the Best Auto Digital Insurance Product Award from TU-Automotive Detroit for its DriveWell platform.
The TU-Automotive Awards are the most prestigious and anticipated awards in the connected-car industry, recognizing excellence and innovation in automotive technology. The Best Auto Digital Insurance Product category was judged on the criteria of innovation, industry engagement, user experience and industry reaction/market uptake.
CMT’s DriveWell program is a comprehensive smartphone telematics and behavioral analytics solution used to accurately measure driving performance and vehicle dynamics. Deployed by top insurance providers, commercial fleets and government agencies around the world, DriveWell helps make roads safer and drivers better by measuring and providing post-trip feedback on behaviors such as at-risk speeding, hard braking, cornering, distracted driving and other vehicle dynamics, according to Cambridge Mobile Telematics.
The solution enables insurance companies to achieve better risk stratification, improve loss ratios and reduce the quantity and severity of claims, while improving customer experience and retention, according to the company.
“Our connected world is disrupting the auto insurance market, and providers need to continuously innovate to adapt,” said Hari Balakrishnan, co-founder and chief technology officer at CMT. “Our technology helps the industry tackle new and growing challenges, like distracted driving, and establish more direct and meaningful connections with their customers through the smartphone. We are honored to receive this award that recognizes the efforts of our team, our innovative AI-based technology, and the success of our programs.”
Earlier this year, Balakrishnan also was recognized as one of Digital Insurance’s Top 26 Insurance Innovators to Watch – an award that profiles the innovators who are leading insurance into a new generation of efficiency and effectiveness.