Network powers automotive insurance application

Agnik, a data analytics company for distributed, mobile and embedded environments, has selected the Kore Telematics M2M network to power its usage-based automobile insurance application.

The network lets Agnik reliably and efficiently transmit driving patterns back to insurance companies for optimised portfolio risk management.

Agnik’s Minedrive application provides insurance carriers with detailed intelligence about driver and automobile performance, enabling more accurate adjustment of their offerings. The technology, available in many OBD and heavy-duty dongle configurations, uses Agnik’s onboard data mining algorithms to analyse vehicle diagnostic, acceleration, driving and location-related data directly from within the vehicle.

The application then summarises, packages and securely transmits the analysis via the Kore M2M network, arming insurance companies with detailed knowledge of driver and vehicle behaviour to support actuarial calculations.

Minedrive also provides statistical data analysis tools for detecting patterns from driving behaviour, vehicle performance and various other types of correlated data relevant for actuarial risk analysis.

“The Agnik Minedrive application needs to function seamlessly across multiple geographies and wireless networks in order to provide accurate driver behaviour analysis to insurance companies and value-added services to consumers,” said Hillol Kargupta, president of Agnik. “The Kore network provides cellular connectivity across the globe through one homogeneous interface. This eliminates roaming concerns, the need to manage multiple wireless provider relationships and speeds the training of our employees.

“Kore provides the reliable network services, customer support and scalability we need to confidently grow our usage-based insurance business.”

The application also uses privacy-preserving data mining technology that allows analysis of encrypted data, ensuring that the raw driving data are never revealed to the insurance company. This allows the insurance company to assess driving behaviour, including GPS locations, without violating consumer privacy.

“Consumer-touching M2M applications such as Agnik’s usage-based insurance solution are helping a number of industries develop new, innovative business models that have a real impact on bottom-line results,” said Alex Brisbourne, president and COO of Kore Telematics. “Agnik is helping to accelerate adoption in the auto insurance market that is directly benefiting consumers, putting money back in their pockets by rewarding good behaviour.

“We are delighted to partner with Agnik to ensure that its innovatory approaches can be extended to all the markets they plan to address.”


Aeris to acquire IoT business from Ericsson

Posted on: December 8, 2022

Ericsson and Aeris Communications, a provider of Internet of Things (IoT) solutions based in San Jose, California, have signed an agreement for the transfer of Ericsson’s IoT Accelerator and Connected Vehicle Cloud businesses.

Read more

Telenor IoT passes milestone of 20mn SIM cards

Posted on: December 8, 2022

Telenor, the global IoT provider and telecom operator, has experienced rapid growth over the last years and ranks among the top 3 IoT operators in Europe and among the top IoT operators in the world. The positive development is due to an accelerated pace of new customers combined with a successful growth of existing customers’

Read more

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more