IGEN files Patent Pending
Application for Creating Real-Time Driver Telematic Signatures
(DTS) for Autonomous Vehicles
Lake
Elsinore, CA -- September 12, 2022 -- InvestorsHub NewsWire -- IGEN
Networks Corporation (OTC:
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 filing for Patent Pending Application No.
17/850,258 - "Method and System for Creating Real-Time Driver
Telematic Signatures" with the United States Patent Office
(USPTO).
IGEN's
Patent Application No. 17/850,258 further strengthens IGEN's patent
portfolio by doubling the number of patent claims to over 40
elements related to assessing driving behavior and habits,
regardless of whether the driver is a person or an autonomously
driven vehicle. The Digital Telematics Signature (DTS) is
comprised of proprietary algorithms designed to measure driver
behavior for both commercial and consumer vehicles regardless of
the data sources. Patent Application No. 17/850,258 expands
the dataset of "Big Data" to include many of the external elements
that affect driving behavior including weather conditions,
population density, and vehicle condition. Whether driving in
high-density traffic or at high speeds over the expressway, the
data is normalized across a relatively large sample to eliminate
gross errors and 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
and updated real-time or over an extended period-of-time in
accordance with actuarial standards.
"The
premise for Driver Telematics Signatures is to establish an
industry standard for assessing driving behavior independent of its
data source, whether it's a commercial truck driver, a teenage
driver, or even autonomous vehicles using AI imaging and sensors,
our algorithms will normalize the multitude of driving data and
eliminate gross errors to derive a unique signature or score for
the driving patterns and habits of a driver or an autonomous driven
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 markets.
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 OTC Markets 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
