SOURCE: TrueMotion

TrueMotion

May 24, 2017 12:59 ET

TrueMotion Announces Insurance Industry Veteran Ted Gramer as CEO

BOSTON, MA--(Marketwired - May 24, 2017) - TrueMotion, the leader in providing mobile Usage Based Insurance (UBI) services, today announced Ted Gramer as Chief Executive Officer. With more than 20 years in the insurance and finance industries, Gramer's experience and knowledge will accelerate TrueMotion's aggressive growth in the global insurance space.

Gramer spent more than a decade with Liberty Mutual Insurance in a variety of executive leadership positions, including Executive Vice President & Chief Claims Officer and Executive Vice President of Liberty International. Most recently, Gramer was the Managing Director for Global Property at Solera, a global leader in data and software for automotive, home ownership and digital identity management. Gramer holds a Bachelor of Science in Management from Bentley University, an MBA from the MIT Sloan School of Management and is a Chartered Financial Analyst (CFA).

"Ted's experience in insurance, analytics and early stage companies is a perfect fit for TrueMotion," said Scott Griffith, chairman and co-founder of TrueMotion. "He's a former insurance executive who understands the practical challenges carriers face attracting new customers, managing emerging loss trends and struggling to simplify the claims process. He also has years of experience applying big data and innovation across different industries in the U.S. and internationally. We couldn't be happier to have him on board."

TrueMotion's mobile apps use the sensors built into smartphones (iOS and Android) plus data science to objectively capture driver behavior (hard braking, acceleration, distraction, etc.) and give the driver a score at the end of each trip. The company uses machine learning and signal processing techniques to filter out non-car trips (train, bus, bike, etc.), and its patented approach identifies whether someone is actually behind the wheel or in the passenger seat. In addition to the mobile apps, TrueMotion offers a big data platform that provides comprehensive driving activity, individual scores and analytics to inform customer insights.

"After decades of declining accident frequency, consumers and insurance carriers are beginning to see the financial and human toll of distracted driving," said Gramer. "TrueMotion uses the same mobile phones that cause the problem to change behavior and make our roads safer. I'm excited to be part of such a talented and passionate team tackling this problem."

In the first quarter of this year, 27,000 drivers who use TrueMotion technology logged 68 million miles and reduced their distracted driving by 20 percent per trip. This is a significant reduction in unsafe driving that is now a leading cause of injuries, deaths and costly auto repairs.

About TrueMotion
Headquartered in Boston, Mass., TrueMotion combines the power of mobile technology, machine learning and data science to reduce the number of automobile crashes and fatalities. Its patented technology uses the sensors built into smartphones to accurately identify drivers and score their overall driving habits, including distracted driving. Up to 75 percent of drivers who use TrueMotion technology reduce distracted driving and other risky behaviors. The company provides an enterprise version of its technology to leading insurers, as well as free consumer apps under the TrueMotion brand. More information is available at goTrueMotion.com.

Contact Information

  • Media Contact
    John Williams
    Scoville PR for TrueMotion
    206-625-0075
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