iGen Networks Corp (IGEN)

[Boomerbust]

$IGEN DD

IGEN recently announced their next generation platform which they have dubbed DTC or their Digital Telematics Signature. This new platform is IGEN’s patented proprietary algorithm which allows the company to track the habits of drivers on the road, whether they are a consumer or commercial user. So what is the significance of all of this data? Information is power, and as more and more data is collected on drivers, IGEN is able to assign scores to how safe or wreckless a specific driver is. Where then does Tesla come into this equation?

Recently at their quarterly earnings call, Tesla CEO Elon Musk announced their plans to release a fully fledged insurance product, tentatively under the working title of Tesla Insurance. Musk went on to state that, “Ultimately, where we want to get to with Tesla Insurance is to be able to use the data that's captured in the car, in the driving profile of the person in the car, to be able to assess correlations and probabilities of crash and be able then to assess a premium on a monthly basis for that customer.” Sound familiar? It is quotes like this that get IGEN investors so excited about a potential partnership in the near future.

If one were to just glance at the electric vehicle sector performance over the last six months, one would come to the conclusion the entire automotive industry will be electric in the next few years. While that may not be far from the truth with several of the industry giants rolling out electric vehicles like Ford (NYSE:F), BMW, Volkswagen, and Volvo, it will still be a while before a majority of the cars on the road are walking supercomputers like Tesla’s vehicles. Indeed, the future may be leading to a world of autonomous driving and artificial intelligence, but it is the data that platforms like IGEN’s DTC will provide that will ensure that all of this runs smoothly.