Conservation Law Foundation Ventures announces selection of Agnik's Big Data Vehicle Analytics Solution for powering telematics program in Massachusetts
COLUMBIA, MD--October 11, 2013: Agnik is pleased to announce that its Big Data Vehicle Analytics solution designed for telematics applications is selected for a study to better understand how motorists' driving habits are affected by various types of incentives. This study will be coordinated by the Conservation Law Foundation Ventures (CLFV) in collaboration with Agnik, Plymouth Rock Assurance Corporation, Sprint and Professor Joseph Ferreira, Jr. from Massachusetts Institute of Technology. The federal grant will be administered by the Massachusetts Department of Transportation (MassDOT).
“We are pleased to collaborate with Agnik in this project”
CLF Ventures will conduct the study in part through a grant from the Federal Highway Administration's (FHWA) Value Pricing Pilot Program, supplemented by contributions from Plymouth Rock Assurance Corporation, a leading Boston-based auto insurance provider, and CLF Ventures. Plymouth Rock auto insurance policyholders in 164 Massachusetts communities will be randomly selected to participate in the program, which will begin in 2014. Sprint’s Usage Based Insurance (UBI) program will provide the wireless network connectivity for this study.
The study will make use of Agnik’s Vyncs™ system for consumer experience with a wide range of value-added services including vehicle health monitoring, driver behavior analytics, social interactions, and location-based services among others. Agnik’s analytics-driven solution is based on predictive modeling, social analytics, and game theoretic mechanism design principles among others. In addition, this study will also make use of the state-of-the-art Agnik Onboard Analytics engine inside the in-vehicle platform. It performs high throughput real-time stream analytics based on machine learning and statistical modeling algorithms for creating enhanced consumer experience and triggering many value-added B2B services. Agnik’s MineDrive™ driver behavior Big Data Analytics platform is also likely to play an important role in better understanding of the data collected through this program.
“Agnik is highly pleased to participate in this program. We believe studies like this are much needed in order to better understand the foundation of actuarial science in a connected car environment,” said Agnik’s COO Kakali Sarkar. “This further shows Agnik’s commitment to provide state-of-the-art Big Data analytics software infrastructure for creating value-added services in the connected car environment.”
The goal of the study is to measure the impact of various types of incentives in motivating people to adjust their driver behavior. It will also improve understanding of the economic and environmental implications of these behavioral changes. The study will provide, for the first time, publicly available data about these behavioral impacts so that states, insurers, and motorists can learn more about the effectiveness of various incentives for reducing driving. “We are pleased to collaborate with Agnik in this project,” said John Kassel, President of CLF. “Agnik’s state-of-the-art Big Data infrastructure and analytics driven solutions for the consumer market are impressive and will play an important role in this project.”