IGEN Launches Next-Generation Platform for the Consumer Automotive Markets
July 29 2020 - 6:00AM
InvestorsHub NewsWire
Advance
Features
that
include IGEN's
Patented
"Digital
Telematics
Signature"
for
the
Universal
Scoring of Driving
Behavior
Lake
Elsinore, CA -- July 29, 2020 --
InvestorsHub NewsWire -- IGEN
Networks
Corporation
(OTCQB:
IGEN,
CSE:
IGN), a leading innovator of
cloud-based and
Internet of Things (IoT) automotive
solutions
for
the protection
and management of mobile assets,
today
announced
the launch
of
its
Next-Generation
Platform built on the Amazon's Web Service
(AWS)
infrastructure
and based
on state-of-the-art
coding methodology that leverages Facebook and Google design
techniques to present a seamless
user
interface regardless of access
methods
including
smartphones, tablets, desktops,
and
third
party application environments.
The AWS
infrastructure
offers
reliability, security, and scalability to support millions
of users
or assets and an Application
Programming Interface (API) friendly environment that
adapts to a broad range of data
sources to
support the changing needs of the consumer and their
families. IGEN's Next-Generation
Platform is optimized to serve a broad
range of consumer markets including online purchases
and
renewals.
The Digital
Telematics
Signature (DTC) is IGEN's patented proprietary algorithm
for measuring
driver behavior for both commercial and consumer
markets
regardless of the data sources. Whether driving in
high-density
traffic
or
at
high
speeds over the expressway,
the
data is
normalized
across a relatively large
sample to
create a consistent and accurate driver score based on
actuarial
metrics. With programmable
weighting of
driving events such as speed, sudden-braking, harsh-turns,
traffic
flow, and
vehicle profiling, a "DTC" or weighted score is created
over an extended
period-of-time.
"Representing a culmination of several years
of development,
IGEN's "DTC" is incorporated
in
its latest
mobile app along with real-time alerts
for both
the consumer their family," said Neil G. Chan, CEO. "In providing
Peace-of-Mind
for parents,
the "DTC" score becomes a
valuable tool for
managing teenage driving habits…eventually we believe
consumers
and their families will opt to provide
access of
this information to insurers and
underwriters for reduction in
premiums. Presently there are several major
insurers who offer as much as 30% discount on
insurance premiums if the
consumer
agrees to
be tracked from their phone
or
through
a
GPS
device. IGEN
is taking the
data analytics to the next level."
About
IGEN
Networks
Corporation
IGEN Networks
Corporation provides
peace-of-mind to automotive consumers and
their families through direct
access to
Internet-of-Things (IoT) cloud-based services that include
Stolen Vehicle Protection, Real-time alerts, and Driver
Behavior.
IGEN is a fully
reporting company in both Canada and
the United
States. It
is publicly traded on the OTCQB under the
symbol
IGEN, and listed on the CSE under the symbol IGN.
For more information, please
visit.,
www.igennetworks.net
Forward-Looking
Statements
This
news
release may contain
forward-looking statements or
forward-looking information within the
meaning of the U.S. Private Securities
Litigation Reform Act of 1995
and Canadian securities law.
The
terms and phrases
"goal", "commitment", "guidance",
"expects",
"would", "will", "continuing",
"drive", "believes",
"indicate", "look forward", "grow",
"outlook", "forecasts", "intend", and similar
terms and phrases are
intended to identify these
forward-looking statements.
Forward-looking statements are based on
estimates
and assumptions made by
IGEN in light of its experience
and its
perception of historical trends, current conditions and expected
future developments, as
well as other factors that
IGEN
believes
are appropriate in the circumstances, including but
not limited to
statements
regarding investment liquidity, financing
options
and long term goals of the Company, general economic
conditions, IGEN's expectations
regarding its business, customer
base, strategy and prospects,
and IGEN's
confidence in the cash flow generation of
its business.
Many factors could cause IGEN's
actual
results, performance or achievements to differ materially from
those expressed or implied by
the forward-looking
statements, including, without
limitation: risks related to
competition; IGEN's reliance
on key
personnel; IGEN's ability to maintain
and enhance its brand; and
difficulties in forecasting IGEN's financial
results, particularly over
longer periods given the
rapid
technological changes,
competition and short product life
cycles that characterize
the mobile
application industry. These risk
factors
and others relating to IGEN that may cause actual results to
differ are set forth in the
under the heading "Risk
Factors"
in IGEN's
periodic filings with the British Columbia
Securities Commission and
the U.S.
Securities and Exchange Commission
(copies of
which filings may be obtained at www.sedar.com or www.sec.gov.
These factors should be
considered carefully, and
readers
should not
place undue reliance on IGEN's forward-looking
statements. IGEN has no
intention and
undertakes no obligation to
update or
revise any forward-looking statements, whether as a result of new
information, future events
or otherwise, except as
required by law.
Contact:
IGEN Networks
Corporation
Neil G. Chan
info@igenneworks.net
1(855)912-5378
iGen Networks (CE) (USOTC:IGEN)
Historical Stock Chart
From Aug 2024 to Sep 2024
iGen Networks (CE) (USOTC:IGEN)
Historical Stock Chart
From Sep 2023 to Sep 2024