Agnik LLC, a data analytics company for distributed, mobile and embedded environments, has selected the KORE network to power its usage-based automobile insurance application.

KORE Telematics is the world’s largest wireless services provider specializing in machine-to-machine communications.

Agnik, with the help of KORE network, will be able to reliably and efficiently transmit driving patterns back to insurance companies for optimized portfolio risk management.

The MineDrive application of Agnik offers insurance carriers with detailed intelligence about driver and automobile performance.

Agnik’s patented onboard data mining algorithms are utilized by the MineDrive technology, to analyze vehicle diagnostic, acceleration, driving and location-related data directly from within the vehicle.

In order to support actuarial calculations, 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.

“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 of Agnik, in a press release.

“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.”

Extensive statistical data analysis tools for detecting patterns from driving behavior, vehicle performance and various other types of correlated data relevant for actuarial risk analysis, are also offered by MineDrive.

Featuring an advanced privacy-preserving data mining technology, the MineDrive application allows analysis of encrypted data, which ensures that the raw driving data is never revealed to the insurance company.

With this, insurance companies are able to assess driving behavior, including GPS locations, without violating consumer privacy policies.

In related news, KORE Telematics was honored as a part of Connected World magazine's Value Chain Awards for playing an integral role in the accomplishments of its partner and their customer.

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