CMT releases Advanced Risk telematics tool

Cambridge Mobile Telematics has announced the release of Advanced Risk, a new solution that allows insurers to analyse and measure driver risk using such new variables as contextual speed, advanced distraction and compound events.

To build advanced risk variables, a carrier needs to collect billions of miles of telematics data, extract and engineer variables from raw sensor data to compute the riskiest events, and then evaluate the predictive lift on claims.

With CMT’s new tool, carriers need only analyse the predictive power of the new variables on their book of business to create a new proprietary score.

“Auto insurers know that driving data is the new competitive advantage. Every top insurer in the US has a telematics program today that utilises variables like harsh braking and phone distraction to assess a driver’s risk and develop customised pricing algorithms. Carriers refine their pricing algorithms over countless iterations by investigating and incorporating new variables to match rate to risk,” said Lakshmi Shalini, VP of Risk & Insurance Analytics for CMT.

“With Advanced Risk, carriers have access to new driving data and analytics to refine their custom scores and sustain a competitive advantage in a rapidly evolving marketplace.”

    Share Story:


Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.