Agnik Awarded DOT Contract for Next Gen Connected Car Insurance Solutions

Agnik, a leader in data analytics for connected cars and life,  has received a US Department of Transportation Phase II Contract to develop an advanced connected car platform for insurance solutions.

This project will advance Agnik’s smartphone and device-based connected life platform with advanced driver analytics, privacy-preserving machine learning, game theoretic social incentives, and mechanism design for usage-based insurance.

The project will be supported by a number of insurance carriers and several Agnik distribution channels and partners. This integrated platform will power Agnik’s unique Connected Insurance Program (CIP).

Here’s what’s at play: CIP, according to Agnik, “offers a unique, low cost way for insurance carriers to execute the full spectrum of insurance solutions for connected cars.”

The Phase II project will provide connected car services for insurance carriers including usage-based-insurance in novel forms, customer relationship management, claims analytics, and smartphone-based insurance analytics. Additionally, this platform will be backed by Agnik’s ecosystem of Big Data Analytics products for vehicle repair service providers, OEMs, and automotive suppliers among others.

“Agnik’s deeper understanding of consumer telematics user behavior based on several popular products distributed through leading distribution channels and smartphone apps combined with our long history of research in the field of distributed data analytics using smartphones, make Agnik ideal for creating new technology and business models for insurance telematics,” said Dr. Hillol Kargupta, President of Agnik. “This will further enhance Agnik’s Connected Insurance Program and allow insurance carriers to engage consumers in a broader social context with little telematics infrastructure overhead.”

Agnik is a cloud-based vehicle performance Big Data analytics software company with a comprehensive telematics platform for the consumer, fleet, insurance, vehicle-repair-services, automotive OEM, and connected device markets.

Category: Connected Fleet News, Featured