According to the Global Status Report on Road Safety released by the World Health Organization, over 1.25 million people die from traffic accidents each year, with millions more sustaining serious injuries.
With behavior-based insurance quickly gaining momentum and offered by larger domestic insurers including Allstate, Liberty Mutual and Progressive Insurance, lesser known insurers such as ADI are seeking innovative ways to introduce telematics to their customers.
Cambridge Mobile Telematics, a Boston-based telematics technology provider, recently announced a strategic partnership with Aioi Nissay Dowa Insurance, or ADI, a global insurance company, designed to bring a behavior-based insurance program to Japan.
Over the past five years, CMT has pioneered behavior-based insurance with smartphones, and has seen successful deployments with leading customers and partners in North America, Europe, Africa, and Asia. ADI is building on telematics programs it has already established, including an existing partnership with auto giant Toyota for a Pay-as-You-Drive insurance product in Japan.
In a recent media release, William Powers, Chief Executive Officer of CMT shared his insights into the benefits of the joint venture:
“By partnering with Aioi Nissay Dowa Insurance, we are expanding our powerful innovations in smartphone sensing and data analytics with a leading insurer who is committed to improving safety and convenience for their clients…We are focused on aligning with companies that share the same vision – to make drivers and roads safer globally.”