Introduction License Plate Recognition (LPR)marketing is gaining traction in helping businesses, especially when it comes to lead generation and helping them expand their customer base. LPR is a revolutionary piece of technology that utilizes optical character recognition and image processing to read, and decipher vehicle license plate information. This data is captured with high-resolution fixed or mobile cameras that use our intelligent analytics to analyze images and extract license plate data. How it works Capture: Digital Recognition Network’s (DRN) high-powered fixed LPR cameras, L5F and L6Q, capture license plates from passing vehicles that pass by your location, identifying potential leads
DRN was happy to join Used Car Week again this year … this time in sunny San Diego. The event brings together all aspects of the used car industry and is a great opportunity to learn about current trends, discuss what’s ahead, network and enjoy time with colleagues and partners.
Recently published delinquency rates by vintage show signs of deteriorated portfolio performance. This trend is even more pronounced for consumers with subprime and deep subprime credit scores. 2022 vintage auto loans for deep subprime were 2.4 percent delinquent 8 months after origination, which is a 33 percent increase from the
The Byrider 20 conference in Austin Texas was a great chance for Byrider franchise owners to gather to share best practices and understand overall company direction from their corporate leaders. Going into the conference, our objective for DRN was to talk to franchisees about our Active Duty Alerts tool –
DRN hosted a great week of discussions, networking and golf – both hitting the course ourselves and watching the pros – in May. I think this was one of our best gatherings ever as we packed a lot of action into a few days and were able to make the
Business owners face challenges each and every day with maximizing their marketing investments. Traditional methods, although effective to a degree, lack a key element: ability to target marketing based on vehicle traffic at a business site. Direct marketing via license plate recognition (LPR) enhances current tools such as social media,
The National Automotive Finance Association (NAF) held its annual Non-Prime Auto Financing Conference last week in Plano, Texas. This was a great opportunity for subprime lenders to network, share best practices, get updated on industry trends and learn about new innovations in our space. I spoke to many lenders, agents
Kotie’s Cars is a Buy Here Pay Here dealer in Waco, Texas, that offers in-house financing. Kotie’s uses traditional GPS trackers in their vehicles – which work well until they don’t, either due to a problem or because someone disables them. David from Kotie’s Cars had a recent situation in
Auto insurers lose at least $29 billion a year, according to a 2017 study by Verisk, to premium leakage, the “omitted or misstated underwriting information that leads to inaccurate rates.”* Add in the cost of fraudulent claims and the costs grow even larger, up to $40 billion annually. We’re excited
Last month I attended the Internal Fraud Management Conference in Orlando, and had the chance to talk with insurance fraud investigators and others involved in insurance claims and other investigations. This was the first in-person conference since COVID-19, so everyone who was there was clearly ready to learn, network and
Insurance carriers use a number of data points when determining premiums on auto policies. These can include anything from age, marital status and places of residence and employment, to information about a person’s vehicle and how much they drive. Another common – but somewhat controversial – factor is credit score.
We’re proud of our strong affiliate partnerships and understand the strains repossession agents are under as we continue working through impacts of the pandemic. That’s why we’ve decided to up the ante with our Elevate the Agent (ETA) program and raise our award levels for 2023. ETA rewards agents for
Questions Q: What do you like the most about working here? A: The best aspects of working here at DRN are being able to ease people’s workloads, help business areas perform better, and the people that work here at DRN. Q: What does your job entail? A: I warehouse data for