Presentation by VP Abel I.Sierra done for CSE (canadian securities exchange) Tuesday Mar 29.
My notes: - Comments made regarding future business: They are in discussions with Sierra Wireless. International markets being developed and include Canada, Puerto Rico, Dominican Republic, Mexico and Columbia
- noted on commercial and public side IGEN focuses on driver behavior. Commented that many other companies have been rating drivers (such as AllState, State Farm, Progressive) and that they are using hardware device in vehicle to collect data but what they hadn't done is get a patent whereas IGEN did. Stressed that IGEN having the patent on driver scoring is what interests investors.
- he pointed out that the shortage of new vehicles opened up a market for them in tracking used cars because dealerships added IGENs product into their used car fleet and that IGEN hadn't been able to get into this market previously. With new vehicle inventory coming up that is allowing them to 'ratchet' up their sales. He noted there are 3 times as many used cars on the market as new.
- noted that to support federal customers they have to follow state and federal guidelines of data privacy/security These comments supported they have government contracts and are working to fulfill them.
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