On4 Communications Inc (ONCI)

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http://www.greensheet.com/newswire.php?flag=display_story&newswire_id=49957

On4 Communications reaches insurance compliance milestone
Wednesday, June 05, 2019 — 11:42:47 (EDT)

LOS ANGELES, June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- On4 Communications, Inc. (OTC: ONCI) is very pleased to announce that a major insurance compliance milestone has been reached on the developmental pathway to bringing its new telematic distracted driving apps, “bSafeMobile” and “FleetSafer”, to market.

CEO Steve Berman explained, “With the recent arrival of our new beacons from our technology partners in Asia we have updated our proprietary software to fully comply with the revised requests of our insurance providers. These requests have caused a bottleneck which has slowed bringing our apps to the insurance market, but it has now been overcome.”

“Implementing these updates assures that our apps now meet the insurance companies’ most current and stringent guidelines. The items of concern were a more fine-tuned control of actions like speeding hard braking, hard acceleration, and hard turning. Finalizing these adjustments means we not only exceed the insurance providers’ standards, but we position ourselves far ahead of our competitors in terms of safety, compliance, and overall performance. On4 Communications simply has the most effective product in this sector to meet the needs of individual drivers, auto rental companies and other fleet sized clients. The ultimate benefit offered by our technology, of course, is the protection of the safety and lives of drivers from distracted driving mishaps, but our clients are also quick to see the benefits from a ‘bottom line’ perspective. Auto collisions on average cost insurance companies $2600 per incident each way. Avoiding such fender benders will save our clients millions of dollars annually.”

Berman concluded, “Furthermore, I’m gratified to share that the latest financials for On4 Communications are expected to be released on or around the 15th of June. Our shareholders will be thrilled to learn that we have posted another record breaking quarter. This and many other exciting developments will be unveiled in the upcoming weeks and months. We are diligently working to bring the ‘bSafeMobile’ and ‘FleetSafer’ apps to the insurance market in a timely fashion and to maximize shareholder value across our various ventures.”

On4 Communications will be meeting with insurance providers and rental car companies (both individual and fleet) in the upcoming weeks for talks to confirm the apps’ compliance functionality and to showcase market ready status.