IGEN Launches Industry's First Consumer Brand Product "FamilyShield" to protect Young Drivers

Rhea-AI Summary

IGEN Networks Corporation (OTCQB: IGEN, CSE: IGN) launched FamilyShield, the first consumer product aimed at protecting young drivers aged 16-19. Each day, 6-8 young motorists die in traffic accidents, highlighting the need for safety solutions. FamilyShield utilizes patented algorithms for real-time monitoring of driving behavior, providing alerts for speeding and tampering. Priced at $129 plus $9.99 monthly, this device is compatible with any vehicle and operates via a mobile app. The platform is built on the secure Amazon Web Services infrastructure.

Positive

• Launch of FamilyShield addresses a critical market need for young driver safety.
• Utilizes patented technology for real-time assessment of driver behavior.
• Secure and scalable platform based on Amazon Web Services.
• Competitive pricing at $129 plus $9.99 per month for service.
• Potential for strong market adoption due to safety concerns.

Negative

• High competition in the IoT and automotive safety markets.
• Reliance on key personnel for ongoing product development and innovation.

LAKE ELSINORE, California, April 5, 2021 /PRNewswire/ -- IGEN Networks Corporation (OTCQB: IGEN) (CSE: IGN), a leading innovator of cloud-based and Internet of Things (IoT) solutions for the protection and management of mobile assets, today announced the nationwide launch of the industry's first consumer brand product designed to protect families and their young drivers.

American roads are a dangerous place for young drivers between the ages of 16-19 years old with 6-8 young motorists dying each day from traffic accidents across the nation.  During the last five years there were more than 9M licensed drivers age 19 or younger driving on American roads, the average fatalities for those aged 19 or younger during this period has reached a national average of 1.5 per 10,000 young drivers.    

"Licensed drivers age 19 or younger are the highest risk segment for fatalities and injuries as reported by the National Highway Traffic Safety Administration.  These statistics created the impetus for a solution - what if we could reduce these fatalities by changing the young driver's behavior?  Whether it is speeding or erratic driving, we can now offer a real-time assessment of the young driver's behavior behind the wheel of the family vehicle," said Neil G. Chan, CEO of IGEN Networks Corporation. 

FamilyShield was created to save young lives.  Based on IGEN's Next Generation Platform, FamilyShield is designed with the patented "Driver Signature" algorithms that offer accurate measurement of a driver's behavior along with real-time alerts on speeding, crossing of location boundaries, along with providing a record of driving behavior over an extended period.   Designed to be tamper proof for the adventurous teenager, FamilyShield provides peace-of-mind, security, and safety for families and their young drivers.

FamilyShield is based on the Amazon Web Services (AWS) Infrastructure designed for scalability, security, and performance.  The FamilyShield Platform operates with a self-installed plug-n-play unit for any make or year of vehicle that is managed from a mobile app.  Whether the young driver is speeding or crossing location boundaries, FamilyShield creates a record and sends notifications to family members of key events including the attempted tampering of the unit.  Compatible and portable for any type of passenger vehicle, FamilyShield data is secure and private, available only to designated family members.  FamilyShield is sold online for a one-time purchase of $129 and $9.99 per month with no contract obligation and one year warranty on the plug-n-play unit with services.

For more information or online purchase of FamilyShield please visit: www.familyshieldtracking.com 

About IGEN Networks Corporation

IGEN Networks Corporation creates software services for the consumer automotive and asset management industries enabling their customers to better manage their assets and protect their families. 

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
Email: info@igennetwork.net
Call Us: +1(855)912-5378

 

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SOURCE IGEN Networks Corporation

FAQ

What is FamilyShield by IGEN?

FamilyShield is a device launched by IGEN Networks to monitor and improve the driving behavior of young drivers.

How much does FamilyShield cost?

FamilyShield is priced at $129 with a monthly service fee of $9.99.

What age group does FamilyShield target?

FamilyShield is designed for young drivers aged 16-19 years.

What features does FamilyShield offer?

FamilyShield provides real-time behavior assessments, alerts for speeding, and notifications for any tampering attempts.

Where can I buy FamilyShield?

FamilyShield can be purchased online at www.familyshieldtracking.com.