IGEN's Driver Telematics Signature Patent is accepted by United States Patent Office (USPTO)
IGEN Networks Corporation (OTCQB: IGEN, CSE: IGN) announced on May 3, 2021, that the United States Patent Office accepted its Patent Application No. 16/387,858 for a 'Method and System for Creating Driver Telematic Signatures.' The patent focuses on a Digital Telematics Signature (DTS) that utilizes proprietary algorithms to assess driver behavior across various data sources. IGEN's Next-Generation Platform is built on AWS and aims to provide a consistent user experience while supporting commercial and consumer markets. The acceptance of this patent may enhance IGEN's competitive edge in the IoT sector.
- Acceptance of Patent Application No. 16/387,858 by the USPTO enhances IGEN's intellectual property portfolio.
- Digital Telematics Signature (DTS) could establish an industry standard for assessing driving behavior.
- The Next-Generation Platform utilizes AWS for improved reliability, security, and scalability.
- The competitive landscape poses risks to IGEN's market position and financial outcomes.
- IGEN relies on key personnel, which may affect business continuity.
LAKE ELSINORE, Calif., May 3, 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 acceptance of its Patent Application No. 16/387,858 - "Method and System for Creating Driver Telematic Signatures" by the United States Patent Office (USPTO).
The Digital Telematics Signature (DTS) is comprised of proprietary algorithms designed to measure 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 profile based on actuarial metrics. With programmable weighting of driving events such as speed, sudden-braking, harsh-turns, traffic flow, and vehicle profiling, a "DTS" or weighted score is created over an extended period-of-time.
"The premise for this patent is to establish an industry standard for assessing driving behavior regardless of its data source, whether it's a commercial truck driver, a teenage driver, or an autonomous vehicle using AI imaging, our algorithms will normalize the multitude of driving data to derive a unique signature or score for the driving patterns of a commercial or consumer automotive vehicle," said Neil G. Chan, CEO of IGEN Networks Corporation.
IGEN's Next-Generation Platform incorporates the DTS algorithms for both commercial and consumer markets. Built on Amazon's Web Service (AWS) infrastructure and based on state-of-the-art coding methodology, the Next-Generation Platform 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 consumer and commercial customers.
About IGEN Networks Corporation
IGEN Networks Corporation creates software services for the consumer automotive and commercial 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: (855)912-5378
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SOURCE IGEN Networks Corporation
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