The world’s largest telematics service provider, Cambridge Mobile Telematics acquires Croatian Amodo

Amodo, an award-winning Croatian company and provider of telematics solutions, becomes part of Cambridge Mobile Telematics (CMT), the world’s largest telematics service provider.

The acquisition merges two telematics companies with well-established businesses and a large number of projects in Europe, and will provide clients access to the most advanced telematics solutions for driver risk assessment, collision assistance, claims management, and traffic behavior correction.

With this acquisition, Amodo adopts the CMT name and accelerates its global expansion, while Marijan Mumdziev, the director of Amodo, has been appointed as the director of CMT for Europe.

After the acquisition, CMT will manage over 95 active telematics programs in 25 countries, including nine in continental Europe. Leading global insurers, automotive manufacturers, gig companies, fleet operators, and mobility companies offer these programs to users to provide a range of benefits. Users of these programs save money on insurance, become safer drivers by reducing risky behaviors such as phone distractions, and receive automatic roadside assistance within minutes after a collision.

-The Amodo team has launched 50 telematics programs across 6 continents in the past 9 years, working with the biggest names in the insurance industry. This is an exceptional achievement for a Croatian IT company, but also a huge opportunity for our employees who will gain the chance for development and advancement by working for one of the most prominent companies of today – said Mumdziev.

Growth of Telematics

With the rise in popularity and an increasing number of consumer-targeted programs, the European market is poised for intense growth in telematics. With 277 million vehicles on the roads, the number of passenger cars in Europe is equal to the number of vehicles in North America.

The analytical consulting company Berg Insight predicts that telematics-based insurance policies in Europe will grow by over 21% each year until 2025. In Germany, the actuarial firm MSK predicts that 10 million drivers will be involved in telematics programs during the same period.

Since the onset of the COVID-19 pandemic, consumer interest in telematics programs has increased in continental Europe, with 65% of drivers opting for a behavior-based insurance policy if offered by their insurer. In 2020, the European auto insurance market reached a turnover of 127 billion euros, excluding the United Kingdom market.