Insurtech Duck Creek Technologies has teamed up with Cambridge Mobile Telematics (CMT) to offer telematics solutions to property and casualty (P&C) insurers.
The tie-up will allow insurers to build behaviour-, usage- and mileage-based connected insurance business models as well as rewards programmes.
CMT vice president of partner solutions Ben Bowne said: “One of the major limitations that insurers face when deploying new business strategies is the amount of time needed to manage backend technologies that support innovation.
“This partnership allows us to help insurers by removing barriers to build a competitive advantage.”
Duck Creek will be able to incorporate CMT solutions leveraging its API suite Duck Creek Anywhere.
Commenting on the latest alliance, Duck Creek chief product officer Jeff Wargin said: “Cambridge Mobile Telematics’ innovative technologies let insurers process claims faster, lower their risk, and improve their customers’ experiences.”
CMT leverages IoT, artificial intelligence, behavioural science, and mobile sensing to offer telematics solutions. Its clientele includes insurers, mobility providers, as well as ride-sharing firms.
At the end of last year, US-based P&C insurer Norfolk & Dedham Group tapped CMT to introduce a safe driving app called N&Drive.
The app is designed to score trips based on driving behaviours including speeding, hard braking, and harsh acceleration, with users rewarded for safe driving.