The company’s AI-driven platform, Drive Well, gathers sensor data from millions of IoT devices, including smartphones, connected vehicles, dashcams and third-party devices, and fuses them with contextual data. This creates a unified view of vehicle and driver behavior.
CMT’s DriveWell Score provides safe driving measurement and fast feedback through an online app, allowing Buckle’s insured members to review their trips and understand their own driver and vehicle behavior, as well as safety level.
According to CMT, the acquisition brings together two telematics companies with large and growing footprints in Europe.
Telematics is primed for significant growth in the European market, which has over 277 million vehicles, matching North America.
Further, since the Covid-19 pandemic, consumer interest in telematics programs has increased in continental Europe, with 65% of drivers saying they would opt for usage-based insurance if their insurer offered it.
Driven Telematics, a company that helps families with their auto insurance rates, partnered with CMT to help teen drivers improve driving safety and save on auto insurance.