Cambridge Mobile Telematics (CMT) announced it has entered into a partnership with Duck Creek Technologies.
“The partnership offers the auto insurance market a joint solution that combines Duck Creek’s robust, flexible and scalable platform with CMT’s industry-leading mobile telematics-based solutions,” CMT said in a news release.
The Duck Creek Platform is the technical foundation of policy, billing, rating, claims, data insights, digital engagement and other solutions for the P&C space. CMT uses mobile sensing, IoT, artificial intelligence and behavioral science to build solutions for top personal and commercial insurers, ride-sharing companies and mobility providers worldwide. The partnership allows Duck Creek’s customers to rapidly deploy mobile telematics-based business strategies into their business.
“Cambridge Mobile Telematics’ innovative technologies let insurers process claims faster, lower their risk and improve their customers’ experiences,” said Jeff Wargin, chief product officer at Duck Creek Technologies. “CMT is a fantastic addition to the Duck Creek partner ecosystem.”
Based on a report in 2018 from Ptolemus Consulting Group, a marketing research firm entirely focused on augmented mobility and automation, there has been an increase in insurers seeking telematics in managing risks for their insured drivers.
“One of the major limitations that insurers face when deploying new business strategies is the amount of time needed to manage backend technologies that support innovation,” said Ben Bowne, vice president of partner solutions at CMT. “This partnership allows us to help insurers by removing barriers to build a competitive advantage.”
Duck Creek and CMT’s partnership will enable insurers to create connected-insurance business models such as behavior-based insurance, usage-based insurance, mileage-based insurance and rewards programs, according to the companies.