Roadzen Advances AI in InsurTech: Wins IFTA Award and Secures Major Partnerships

Roadzen Wins Prestigious IFTA Excellence in InsurTech Award By Investing.com

NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (Roadzen or the Company), a global leader in AI at the convergence of insurance and mobility, announced that it was honored today with the IFTA Excellence in InsurTech award by the India FinTech Forum. The award recognizes Roadzen's outstanding achievements in demonstrating exceptional innovation, efficiency, and customer impact in the insurance industry. The IFTA Excellence in InsurTech Award is presented annually by the India Finance Technology Awards (IFTA) committee to companies that lead the way in leveraging technology to deliver cutting-edge solutions. This recognition highlights Roadzen's unwavering commitment to driving innovation, enhancing customer experiences, and reshaping the future of the vehicle insurance industry. We are truly honored to receive the IFTA Excellence in InsurTech Award, said Rohan Malhotra, Roadzen's founder and CEO. This award is a testament to our team's dedication to developing transformative solutions that address industry challenges and deliver real value to our clients and our clients' clients. About Roadzen Inc. Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 360 employees across its global offices in the U.S., India, U.K. and France. The India FinTech Forum is a non-profit initiative that offers a platform for fintech companies to collaborate and voice their opinions on the relevant policy issues. More than 4,500 fintech companies and over 37,000 individuals dedicated to enhancing the ecosystem so that India leads the global fintech innovation wave. Indian fintech firms have unique opportunities with the India Stack (Aadhar, UPI, etc.), which are not available anywhere else in the world. Today, India is on the cusp of a profound shift in the way financial services are accessed by millions of citizens. And this shift will be primarily led by innovative fintech startups in collaboration with big banks or large corporations. Government policies and regulations by important institutions like RBI, SEBI, IRDA etc. will play a major role in shaping the fintech sector. Several industry associations are present in India like CII, FICCI, ASSOCHAM, SIAM (for automobile manufacturers), COAI (for cellular operators), etc. to voice the opinion of their member companies. Similarly, the India FinTech Forum serves as the unifying platform where the Indian fintech community can present its thoughts and views (in consensus) to the government or policy regulators on important issues relating to the sector. www.indiafintech.com Cautionary Statement Regarding Forward Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as may, should, could, would, expect, plan, anticipate, believe, estimate, and continue, or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our expected revenue growth, strategy, demand for our products, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in Risk Factors in our Securities and Exchange Commission (SEC) filings, including the annual report on Form 10-K we filed with the SEC on July 1, 2024. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Media Contacts: Sanya Soni [email protected] or [email protected]

Roadzen Wins Prestigious IFTA Excellence in InsurTech Award

, (GLOBE NEWSWIRE) -- (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, announced that it was honored today with the IFTA Excellence in InsurTech award by the . The award recognizes Roadzen's outstanding achievements in demonstrating exceptional innovation, efficiency, and customer impact in the insurance industry. The IFTA Excellence in InsurTech Award is presented annually by the India Finance Technology Awards (IFTA) committee to companies that lead the way in leveraging technology to deliver cutting-edge solutions. This recognition highlights Roadzen's unwavering commitment to driving innovation, enhancing customer experiences, and reshaping the future of the vehicle insurance industry. "We are truly honored to receive the IFTA Excellence in InsurTech Award," said , Roadzen's founder and CEO. "This award is a testament to our team's dedication to developing transformative solutions that address industry challenges and deliver real value to our clients and our clients' clients." About (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in , the Company has 360 employees across its global offices in the , , and . is a non-profit initiative that offers a platform for fintech companies to collaborate and voice their opinions on the relevant policy issues. More than 4,500 fintech companies and over 37,000 individuals dedicated to enhancing the ecosystem so that leads the global fintech innovation wave. Indian fintech firms have unique opportunities with the India Stack (Aadhar, UPI, etc.), which are not available anywhere else in the world. Today, is on the cusp of a profound shift in the way financial services are accessed by millions of citizens. And this shift will be primarily led by innovative fintech startups in collaboration with big banks or large corporations. Government policies and regulations by important institutions like RBI, SEBI, IRDA etc. will play a major role in shaping the fintech sector. Several industry associations are present in like CII, FICCI, ASSOCHAM, SIAM (for automobile manufacturers), COAI (for cellular operators), etc. to voice the opinion of their member companies. Similarly, the serves as the unifying platform where the Indian fintech community can present its thoughts and views (in consensus) to the government or policy regulators on important issues relating to the sector. www.indiafintech.com Cautionary Statement Regarding Forward Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," and "continue," or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our expected revenue growth, strategy, demand for our products, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in "Risk Factors" in our ("SEC") filings, including the annual report on Form 10-K we filed with the on . We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Roadzen Chosen by One of the World's Largest LPG Carriers to Bring AI to its Fleet for Road Safety and Compliance - Roadzen (NASDAQ:RDZN)

NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. RDZN ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced that a leading liquefied petroleum gas (LPG) supplier in India -- a wholly owned subsidiary of one of the world's largest LPG companies -- will outfit its entire truck fleet with Roadzen's drivebuddyAI. The system will monitor driver fatigue and provide real-time feedback to drive improvements in safety and compliance. Roadzen's drivebuddyAI was selected following a comprehensive five-month validation process, competing against the world's leading video telematics and ADAS vendors. The contract, which carries a term of five years for more than 500 vehicles, is expected to deliver over seven figures in revenue over the term. As the first system to receive Automotive Research Association of India (ARAI) certification under India's Automotive Industry Standard 184, Roadzen's DrivebuddyAI offers an unparalleled suite of advanced features designed to enhance driver safety, mitigate risks, improve driver performance, and optimize fleet operations. Leveraging state-of-the-art artificial intelligence and machine learning algorithms combined with video-telematics, DrivebuddyAI enables real-time monitoring, audio warnings and tagging recorded incidents, predictive analytics, and proactive collision avoidance capabilities. Featuring 98-point landmark tracking focused on the driver's eye movement combined with 2-way communications, DrivebuddyAI is at the forefront of innovation for in-cabin analysis incorporating the most advanced safety features including distraction alert, drowsiness alert, focus monitoring, and emotion tracking capabilities. Rohan Malhotra, founder and CEO of Roadzen, commented, "LPG suppliers and distributors care deeply about road safety due to the sensitive nature of cargo being transported. We're seeing some of the leading players in this space adopt AI to enhance safety features across their fleets and reduce insurance premiums. As the first and only Advanced Driver Assistance System currently validated by the government of India to offer an integrable solution to vehicles seeking compliance with the AIS184 regulation -- which is closely aligned with EU 2144 in Europe -- we expect traction not just in India but also across European markets where safety and compliance remain top priorities. We're looking at a highly active sales calendar for DrivebuddyAI and are fully prepared to meet the demand." For more information about Roadzen Inc. and DrivebuddyAI, please visit https://roadzen.ai/ About Roadzen Inc. Roadzen Inc. RDZN is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets, to dealerships, and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned Roadzen recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 379 employees across its global offices in the US, India, UK, and France. To learn more, please visit www.roadzen.ai Media Contacts: Sanya Soni: [email protected] Gutenberg: [email protected] Investor Contacts: Yvonne Zappulla: [email protected] Cautionary Statement Regarding Forward Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "expected to," "projected," "begun to be adopted," "accelerate the transformation," "plan," "anticipate," "believe," "estimate," and "continue," or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our strategy, demand for our products, expansion plans, future operations, future operating results, estimated revenues, performance of our partnerships, losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in "Risk Factors" in our Securities and Exchange Commission ("SEC") filings, including the definitive proxy statement/prospectus we filed with the SEC on August 14, 2023. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our Company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Market News and Data brought to you by Benzinga APIs

Roadzen's DrivebuddyAI Secures India's Only ARAI Certification for AI-Powered Advanced Driver Safety; Surpasses One Billion Kilometers of Real-World Driving Data - Roadzen (NASDAQ:RDZN)

NEW YORK, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. RDZN ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced two major milestones: its proprietary, computer vision-powered Advanced Driver Assistance System (ADAS) platform, DrivebuddyAI, has become the first-ever system to receive Automotive Research Association of India (ARAI) certification under India's Automotive Industry Standard 184 (AIS 184) and has crossed one billion kilometers of real-world driving data. These accomplishments establish DrivebuddyAI as a pioneer in real-world AI and road safety. The AIS 184 standard, expected to be mandated for all 4 million commercial vehicles in India by FY 2026, defines stringent technical and procedural requirements for driver monitoring, drowsiness detection, and road safety compliance. Following months of extensive validation and road testing by ARAI, DrivebuddyAI emerged as the sole compliant, integrable, driver safety system for auto OEMs looking to adopt the standard. Transforming Road Safety Through Computer Vision Leveraging DrivebuddyAI's custom neural networks built to analyze objects, road markings, traffic signs, driver behavior, and the behavior of other road users to make informed driving decisions, the system offers a comprehensive suite of real-time safety features, including: Distraction and drowsiness alertsPredictive collision warningsDriver behavior monitoring, such as seatbelt compliance, phone usage detection, and smoking alertsIn-cabin analysis powered by 98-point driver eye-movement trackingSeamless 2-way communication for fleet optimization In another milestone, DrivebuddyAI has surpassed one billion kilometers of real-world driving data, enabling continuous improvements in driver safety and monitoring while addressing critical needs for fleet operators, carmakers, and insurers. This data is also invaluable for training autonomous vehicle (AV) systems, offering insights across diverse road environments. Rohan Malhotra, the Company's founder and CEO, commented: "India, one of the fastest-growing economies globally, is undergoing massive infrastructure expansion, driving unprecedented demand for heavy commercial vehicles. With over 4 million trucks today projected to grow to 17 million by 2050, safety and compliance have become critical. We're proud to be the first and only company to meet India's rigorous AIS 184 requirements while achieving the extraordinary milestone of a billion kilometers of real-world driving data." Mr. Malhotra added: "Imagine a network of connected vehicles functioning as a continuous mesh of camera sensors, capturing real-time data on road conditions, traffic flow, and driver behavior. This is the future of mobility, and we are powering it." Nisarg Pandya, Head of DrivebuddyAI, emphasized: "Studies show that up to 50% of road accidents are caused by fatigue or distraction. With India set to mandate Driver Monitoring Systems (DMS) by 2026 and Europe, the U.S., and China following suit, DrivebuddyAI is positioned to lead the global shift toward AI-driven safety compliance. The global ADAS market, valued at $24.5 billion in 2023, is growing at 18.2% annually, with India outpacing at 18.8% to reach $9.98 billion by 2032. We are committed to capturing a significant share of this transformative market." For more information about Roadzen Inc., please visit https://roadzen.ai/. About Roadzen Inc. Roadzen Inc. RDZN is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 360 employees across its global offices in the U.S., India, U.K. and France. To learn more, please visit www.roadzen.ai. Cautionary Statement Regarding Forward Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," and "continue," or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our expected revenue growth, strategy, demand for our products, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in "Risk Factors" in our Securities and Exchange Commission ("SEC") filings, including the annual report on Form 10-K we filed with the SEC on July 1, 2024. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. For more information, please contact: Investor Contacts: [email protected] Media Contacts: Roadzen: Sanya Soni [email protected] or [email protected] Gutenberg: [email protected] RDZNRoadzen Inc$1.30-4.41%WatchlistOverviewMarket News and Data brought to you by Benzinga APIs

Roadzen's National Automobile Club Signs Contract with Motive, One of the Largest AI-powered Fleet Management Companies - Roadzen (NASDAQ:RDZN)

NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. RDZN ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced that it has partnered with Motive, the AI-powered Integrated Operations Platform, to provide roadside assistance and towing services to Motive's customer base that spans more than one million vehicles. Motive empowers businesses running physical operations with advanced tools to enhance safety, productivity, and profitability. With over 120,000 customers across transportation and logistics, construction, field service, and more, Motive's AI-powered solutions improve safety and productivity by giving customers greater visibility and control over their operations. Motive's integrated platform combines Driver Safety, Spend Management, Fleet Management, and Equipment Monitoring in one place, enabling safety, operations, and finance teams to manage their workers, vehicles, equipment, and fleet-related spend in a single system for the first time. NAC's contract with Motive generates direct revenue to Roadzen based upon per vehicle per incident, as it provides 24/7 service coverage nationwide at substantial savings to Motive customers. According to data from the American Trucking Association and FleetNet America, most commercial trucks experience a roadside breakdown roughly every 10,000 miles driven, equating to approximately 20% to 30% of trucks in the U.S. requiring roadside assistance per year. "While our north star is to prevent accidents through instant and precise AI-powered risk detection, it is just as important we protect drivers and reduce risk when accidents do happen," said Jai Ranganathan, Chief Product Officer, Motive. "Whether you need fast emergency support from first responders, or a quick roadside repair to get your driver back on the road, Motive's complete safety solution quickly delivers the help customers need." "The integration of AI-driven insights with Motive's robust fleet management platform represents a significant leap forward for driver safety," commented Roadzen CEO, Rohan Malhotra. "By leveraging advanced AI algorithms, we can predict and proactively respond to vehicle breakdowns and emergency situations, minimizing downtime and operational disruptions and accelerating the repair process by precision-estimating the cost of repair. This partnership enhances the safety and efficiency of Motive's customers' fleets and demonstrates how AI can transform operations." Motive customers will have access to Roadside Assistance beginning December 16 by selecting "Roadside Assistance" within the Driver App. Customers pay only when they use the service and there are no ongoing monthly fees. To learn more about Motive's industry-leading safety solutions visit https://gomotive.com/products/driver-safety/. About Roadzen Inc. Roadzen Inc. RDZN is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 380+ employees across its global offices in the U.S., India, U.K. and France. To learn more, please visit www.roadzen.ai. About Roadzen's National Automobile Club (NAC) National Automobile Club, a wholly owned Roadzen business, is a business-to-business ("B2B") licensed auto club in California providing claims management and 24/7 commercial roadside assistance with a network of 20,000+ professional service providers offering tow, transport and first notice of loss services. NAC's customers include government fleets, small businesses, commercial fleets, OEMs, fuel card companies, insurers, leasing and financing companies, warranty companies and auto-related entities. NAC has been in continuous business operations since 1924. About Motive Motive empowers the people who run physical operations with tools to make their work safer, more productive, and more profitable. For the first time, safety, operations, and finance teams can manage their workers, vehicles, equipment, and fleet-related spend in a single system. Motive serves more than 120,000 customers from small businesses to Fortune 500 enterprises such as Halliburton, KONE, Komatsu, NBC Universal, and Maersk across a wide range of industries including transportation and logistics, construction, energy, field service, manufacturing, agriculture, food and beverage, retail, waste services, and the public sector. Visit gomotive.com to learn more. Cautionary Statement Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "expected," "committed," "plan," "anticipate," "believe," "pipeline," "leads," "estimate," and "continue," or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our strategy, demand for our products, expansion plans, future operations, future operating results (including expectations regarding future profitability and returns to shareholders), planned balance sheet restructuring, estimated revenues (including from new contracts and joint ventures), losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in "Risk Factors" in our Securities and Exchange Commission ("SEC") filings, including the Annual Report on form 10-K we filed with the SEC on July 1, 2024. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. For more information, please contact: Investor Contacts: [email protected] Media Contacts: Roadzen: Sanya Soni [email protected] or [email protected] Gutenberg: [email protected] Motive Media Contact: [email protected] RDZNRoadzen Inc$1.703.03%WatchlistOverviewMarket News and Data brought to you by Benzinga APIs

Roadzen's DrivebuddyAI Secures India's Only ARAI Certification for AI-Powered Advanced Driver Safety; Surpasses One Billion Kilometers of Real-World Driving Data By Investing.com

NEW YORK, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced two major milestones: its proprietary, computer vision-powered Advanced Driver Assistance System (ADAS) platform, DrivebuddyAI, has become the first-ever system to receive Automotive Research Association of India (ARAI) certification under India's Automotive Industry Standard 184 (AIS 184) and has crossed one billion kilometers of real-world driving data. These accomplishments establish DrivebuddyAI as a pioneer in real-world AI and road safety. The AIS 184 standard, expected to be mandated for all 4 million commercial vehicles in India by FY 2026, defines stringent technical and procedural requirements for driver monitoring, drowsiness detection, and road safety compliance. Following months of extensive validation and road testing by ARAI, DrivebuddyAI emerged as the sole compliant, integrable, driver safety system for auto OEMs looking to adopt the standard. Transforming Road Safety Through Computer Vision Leveraging DrivebuddyAI's custom neural networks built to analyze objects, road markings, traffic signs, driver behavior, and the behavior of other road users to make informed driving decisions, the system offers a comprehensive suite of real-time safety features, including: In another milestone, DrivebuddyAI has surpassed one billion kilometers of real-world driving data, enabling continuous improvements in driver safety and monitoring while addressing critical needs for fleet operators, carmakers, and insurers. This data is also invaluable for training autonomous vehicle (AV) systems, offering insights across diverse road environments. Rohan Malhotra, the Company's founder and CEO, commented: "India, one of the fastest-growing economies globally, is undergoing massive infrastructure expansion, driving unprecedented demand for heavy commercial vehicles. With over 4 million trucks today projected to grow to 17 million by 2050, safety and compliance have become critical. We're proud to be the first and only company to meet India's rigorous AIS 184 requirements while achieving the extraordinary milestone of a billion kilometers of real-world driving data." Mr. Malhotra added: "Imagine a network of connected vehicles functioning as a continuous mesh of camera sensors, capturing real-time data on road conditions, traffic flow, and driver behavior. This is the future of mobility, and we are powering it." Nisarg Pandya, Head of DrivebuddyAI, emphasized: "Studies show that up to 50% of road accidents are caused by fatigue or distraction. With India set to mandate Driver Monitoring Systems (DMS) by 2026 and Europe, the U.S., and China following suit, DrivebuddyAI is positioned to lead the global shift toward AI-driven safety compliance. The global ADAS market, valued at $24.5 billion in 2023, is growing at 18.2% annually, with India outpacing at 18.8% to reach $9.98 billion by 2032. We are committed to capturing a significant share of this transformative market." For more information about Roadzen Inc., please visit https://roadzen.ai/. About Roadzen Inc. Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world's leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen's technology to build new products, sell insurance, process claims, and improve road safety. Roadzen's pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen's mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 360 employees across its global offices in the U.S., India, U.K. and France. To learn more, please visit www.roadzen.ai. Cautionary Statement Regarding Forward Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as may, should, could, would, expect, plan, anticipate, believe, estimate, and continue, or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding our expected revenue growth, strategy, demand for our products, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in Risk Factors in our Securities and Exchange Commission (SEC) filings, including the annual report on Form 10-K we filed with the SEC on July 1, 2024. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.