CB Insights Names Cambridge Mobile Telematics a “Top 50 Most Promising Insurtech Startup”
CMT selected from a pool of 2,000 companies
Cambridge, MA, August 15, 2023 — Cambridge Mobile Telematics (CMT), the world’s largest telematics service provider, today announced that CB Insights has named it to the second annual Insurtech 50, showcasing the 50 most promising private insurtech companies in the world. In addition to auto telematics, this year’s winners are working on cyber insurance, climate risk, distribution, and more.
“This year’s Insurtech 50 winners are accelerating important innovations across an industry that has a direct impact on human health and well-being,” said Niall Williams, Lead Analyst at CB Insights. “From infrastructure to AI and analytics, our cohort is shaping the future of insurance in significant ways.”
“CMT is building the future of mobility with mobile sensing and artificial intelligence to bring safer roads, and we’re excited to be recognized as one of the most promising startups by CB Insights,” said Ryan McMahon, SVP of Strategy at Cambridge Mobile Telematics.“In just the past few years, we’ve grown globally to power over 95 telematics programs on five continents. We are proud to expand into new markets, bringing our technology beyond auto insurance into automotive, rideshare, on-demand delivery, and the public sector.”
Utilizing the CB Insights platform, the CB Insights research team picked 50 private market vendors from a pool of over 2,000 companies, including applicants and nominees. They were chosen based on CB Insights datasets — including R&D activity, proprietary Mosaic scores, business relationships, Yardstiq transcripts, investor profiles, news sentiment analysis, competitive landscape, and team strength — and criteria such as tech novelty and market potential. The research team also reviewed Analyst Briefings submitted by applicants.
The auto telematics market uses telematics technology to gather data about a driver’s behavior and usage patterns, which can determine the appropriate insurance premium for an auto insurance policy. Beyond the “Top 50 Most Promising Insurtech Startups” recognition, CB Insights has named CMT a “Leader” in the auto telematics market.
In the past year, CMT has also won the 2023 AutoTech Breakthrough Award: “Vehicle Telematics Company of the Year” and was named “Technology Innovation Honoree.” CMT’s fuel-saving app FuelStar won a Webby Award Honoree. Earlier this year, CMT partnered with Travelers Insurance to win the Loyalty 360 Award for “Technology and Trends.”
About CB Insights:
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About Cambridge Mobile Telematics
Cambridge Mobile Telematics (CMT) is the world’s largest telematics service provider. Its mission is to make the world’s roads and drivers safer. The company’s AI-driven platform, DriveWell®, gathers sensor data from millions of IoT devices — including smartphones, proprietary Tags, connected vehicles, dashcams, and third-party devices — and fuses 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 CMT’s 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.
Media Contact: Lisa-Marie Pascuccio