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Cambridge Mobile Telematics Acquires Rivals TrueMotion

Cambridge Mobile Telematics has recently completed its acquisition of TrueMotion, which is also a significant competitor. Cambridge Mobile Telematics is an industry behemoth that collects driving pattern data and channelizes it for improved business outcomes.

Existing technology in Telematics depends primarily on smartphone applications that detect distracted driving behaviors such as hard braking, speed, and acceleration trends.

The utilization of auto insurance technology has grown in recent years because it accurately distinguishes between safe and reckless driving patterns.

For decades, insurers have been utilized for costs paid by people, such as age and credit score.

Now many say that driving behaviors are a fairer indication of the likelihood of an accident.

Cambridge Mobile claimed it had finalized the purchase of the TrueMotion for an unrevealed sum in a transaction that was due to be announced early Thursday.

After the combination process, Cambridge Mobile provides premium-based Telematics services for 21 of America’s top 25 car insurers, including the leading car insurers in Australia, Canada, Japan, South Africa, and the United Kingdom.

The merger would allow the two businesses in Boston to combine employees to improve existing products supplied to automobile insurers and create new ones.

Nearly 400 individuals, including informatics scientists, data specialists, and engineers, work between them.

The usual tele-making programs of insurers first charge clients who opt in rates based on traditional rating variables (age, sex, vehicle type, credit scoring, motor vehicle infringements, and distance).

But insurers generally offer a small rebate for policyholders as an incentive to test Telematics.

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