Discovery Limited Inks Pact with Cambridge Mobile Telematic

Proquest LLC

Global insurer Discovery Limited has reported a strategic partnership deal with Cambridge Mobile Telematic.

In its release, Discovery Limited said that this deal will further bolster the current productive relationship between its auto- term insurance arm, Discovery Insure, and CMT.

Adrian Gore, Chief Executive Officer of Discovery Limited, said, "This strategic partnership with CMT further enhances Discovery Insure's leadership position in the growing industry of behavior- based auto insurance. While auto insurers are using telematics technology to monitor and track driving behavior with discounts on premiums to policyholders, Discovery Insure harnesses both telematics technology and behavioral economics to promote safer driving, with exceptional results for both our clients and the company."

ABI Research estimates that the number of monitored drivers worldwide will rise from 1.85 million in 2010 to 89 million by 2017. Telematics focuses on the use of wireless technologies to send data over long distances.

"We are focused on continuing to expand our global footprint and align with companies that share our vision - to make better drivers and safer roads," said William Powers, President and Chief Executive Officer of Cambridge Mobile Telematics. "Through a strategic alliance with Discovery Limited, we can collectively shape the future of the behavior-based insurance industry."

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