[July 22, 2011] Agnik Chooses Kore's Network to Power Automobile Insurance Application Tweet Jul 22, 2011 (Close-Up Media via COMTEX) -- Kore Telematics, a wireless services provider specializing in machine-to-machine (M2M) communications, announced that Agnik, a data analytics company for distributed, mobile and embedded environments, has selected the Kore network to power its usage-based automobile insurance application. In a release on July 19, Kore Telematics said the Kore network enables Agnik to transmit driving patterns back to insurance companies for optimized 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 MineDrive technology, available in many OBD and heavy-duty dongle configurations, utilizes Agnik's patented onboard data mining algorithms to analyze vehicle diagnostic, acceleration, driving and location-related data directly from within the vehicle. The application then summarizes, packages and securely transmits the analysis via the Kore M2M network, arming insurance companies with detailed knowledge of driver and vehicle behavior to support actuarial calculations. MineDrive also offers statistical data analysis tools for detecting patterns from driving behavior, 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 behavior analysis to insurance companies and value-added services to consumers," said Hillol Kargupta, president, 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." "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. Agnik is helping to accelerate adoption in the auto insurance market that is directly benefitting consumers, putting money back in their pockets by rewarding good behavior," said Alex Brisbourne, president and COO, Kore Telematics. "At Kore, our focus is to reliably power innovative wireless solutions across the globe, and define the standard for worldwide M2M network connectivity, in telehealth, consumer, supply chain, utility, payment processing and many other markets. We are delighted to partner with Agnik to ensure that its innovatory approaches can be extended to all the markets they plan to address." More information: www.koretelematics.com www.agnik.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]