Cambridge Mobile Telematics Buys Amodo

Cambridge Mobile Telematics

Cambridge Mobile Telematics (CMT), a Cambridge, MA-based telematics service provider, acquired Amodo, a telematics company based in Zagreb, Croatia, and Vienna, Austria.

The amount of the deal was not disclosed.

With the acquisition, Cambridge Mobile Telematics will accelerate global expansion and provide greater scale, speed, and innovation to the European market and beyond.

Led by CEO Marijan Mumdziev, Amodo provides a connected insurance platform that enables insurers to create and brokers to place personalized usage-based insurance (UBI) products on the market. Its clients use the platform to gain strategic insights into customers’ profiles, segment them into relevant groups, and acquire profitable ones.

Led by CEO William Powers, Cambridge Mobile Telematics is a telematics service provider whose AI-driven platform, DriveWell, gathers sensor data from millions of IoT devices — including smartphones, proprietary Tags, connected vehicles, dashcams, and third-party devices — and combines them with contextual data to create a unified view of vehicle and driver behavior. Companies from personal and commercial auto insurance, automotive, rideshare, smart cities, wireless, financial services, and family safety industries use insights from its platform to power their risk assessment, safety, claims, and driver improvement programs. Headquartered in Cambridge, MA, with offices in Budapest, Chennai, Seattle, Tokyo, and Zagreb, CMT serves millions of people through over 95 programs in 25 countries, including 21 of the top 25 US auto insurers.

FinSMEs

01/03/2023