Establishes New Base For World-Class Vehicle IoT Business Following Successful Investment Funding
Collision Management Systems (CMS), a British tech company that’s pioneering the use of connected car data to reduce vehicle insurance risk and claims costs, has relocated its headquarters to Milton Keynes as it rapidly expands its software business. The move follows the company’s securing of £1.25 Million in funding from BGF, one of the UK’s most active and influential investors in small and mid-sized businesses.
CMS has built up a strong team of industry and technical experts, many of whom will be based at its new offices in Witan Studios, Central Milton Keynes, and is currently recruiting additional staff to help it achieve its growth prospects.
Founder and CEO, Charles Smith confirms, “These are exciting times for CMS. In the past 12 months we have created a multi-million-pound sales pipeline with international insurance, technology and telematics businesses; and successfully delivered our software to multiple global organisations in the UK and abroad, including reinsurance giant Swiss Re. Our move to Milton Keynes gives us the space to grow and to scale up our operations for 2019 and beyond.”
CMS’s success is down to its unique software platform that aggregates data from connected vehicles to deliver accurate real-time collision alerts and risk data. Its system allows motor insurers to access data from the growing number of connected cars on the road and to action claims instantly without waiting for customer notification, so they can offer roadside support immediately. By doing this, CMS is proven to deliver significant savings, in excess of £1,600 per claim.
Explaining why CMS chose its new location, Charles says “Milton Keynes has highly-skilled people and outstanding facilities as well as an established mix of high performance technology and transport and logistics businesses. It’s ideally placed to become a centre for the development of vehicle IoT. At CMS, we are helping to establish Britain’s role centre-stage in this burgeoning new market. We are already seeing new opportunities for our software and consultancy from overseas organisations in South America, Japan and the Middle East.”