Risk Management Firm And Auto Safety Products Co. Team Up

NU Online News Service, Sept. 15, 11:14 a.m. EDT

Mobileye Inc., a Los Angeles auto safety technology firm, announced it has formed a product distribution relationship with AssureNet, a provider of risk-management and safety services to the insurance and transportation industries.

The newly formed alliance, Mobileye said, will make its extensive line of advanced warning aftermarket safety technologies available to Phoenix-based AssureNet's fleet customers and its national network of insurance companies who cover heavy- and medium-duty fleets, as well as commercial passenger cars.

Mobileye produces a forward collision warning, headway monitoring and lane departure warning system in one unit. The company said a camera located on the front windshield inside a vehicle uses its advanced vision technologies to detect and measure the distance to vehicles and lane markings, providing the driver with timely alerts.

AssureNet Chief Executive Officer Chris Chappell said, "The combination of Mobileye's technology and our services will reduce accidents and enable fleet and risk managers and insurance companies to manage risk more effectively."

Mobileye Inc. CEO Skip Kinford added: "Given the ability of Mobileye technologies to minimize risk and drastically reduce the rate of accidents and on-road fatalities, it is imperative the insurance industry has even greater access to our family of products. We effectively accomplish this by aligning ourselves with companies like AssureNet."

Mobileye N.V. is headquartered in The Netherlands, with research and development in Israel and offices in the U.S., Cyprus and Japan.

Mobileye's products of software algorithms bundled into the EyeQ system-on-chip can be found in BMW, GM and Volvo models since 2007.