The U.K. insurer Admiral has selected telematics provider Cambridge Mobile Telematics (CMT) to develop and launch a behavior-based smartphone telematics program in the United Kingdom.
“This accurate, easy-to-implement program will enable Admiral to expand its existing telematics service to a much broader U.K. audience,” Massachusetts-based Cambridge Mobile Telematics said.
Behavior-based insurance “is an innovative way for insurers to capture driving performance for setting insurance premiums, mitigating risk and encouraging safer driving,” according to the telematics provider.
“Through CMT’s advanced technology in analytics, and machine learning, risky driving activities such as phone distraction, hard braking, abrupt acceleration, sharp cornering and speeding can be captured using mobile sensors on the phone,” CMT said.
There are an estimated 50 million automobile injuries and crashes annually. According to the World Health Organization, approximately 1.25 million people die each year in traffic-related collisions. Through its DriveWell program, CMT’s mission is to make drivers safer by providing valuable trip feedback, driving tips, mapped events and gamification, according to the company.
“We have found that through behavior awareness and incentives, people actually do drive better and have a much lower risk of getting into an accident,” said William Powers, CEO of Cambridge Mobile Telematics. “Admiral shares our vision and wants to reward their customers for driving safely. Together, we will launch a successful, behavior-based insurance model offering Admiral customers an accurate, personalized solution to improve driving performance.”