Vehicle location data gives insurance carriers a new, effective tool for locating stolen vehicles.
While the number of auto thefts were down slightly in 2014, losses due to motor vehicle theft still came in at a hefty $4.5 billion. Just when you think you have outsmarted thieves, they come up with newer and more sophisticated ways to steal. And, the longer a vehicle goes missing, the harder it is to recover.
What if you had a better way of finding stolen vehicles – a faster way? Imagine, if the average dollar loss per theft is $6,537, how much could you save by finding even a fraction of the stolen cars you insure?
DRN’s license plate recognition (LPR) technology solutions have helped locate and recover more than 500,000 assets for automotive lenders, and now that same technology can help insurance carriers recover more stolen vehicles. With over 100,000,000 vehicle sightings per month across the U.S., DRN has the largest database of vehicle plate images anywhere. , Chances are your stolen vehicles have been sighted.
By simply uploading your stolen vehicle hotlist, you can get real-time alerts of stolen vehicle sightings including plate and car images, an interactive map of sightings, date and time of each sighting, GPS coordinates and addresses of sightings. On average, DRN sees over 10% of vehicles over 180 days old. These are sightings that you cannot get anywhere else – sightings that lead you to recover more cars, faster.
There’s no need to dump your current vendor, just add Live Alerts to supplement your process to recover more stolen vehicles. There’s no financial obligation to get started because you only pay for validated sightings. Click here for more info.
- More than $4.5 billion was lost to motor vehicle theft in 2014. The average dollar loss per theft was $6,537.
- Four Best Practices Every Underwriter Should Know to Prevent Premium Leakage - September 4, 2018
- The 5 Most Shocking Commercial Use Examples Hiding in Your Books - August 30, 2018
- Spot Fraud in Your Books with Two Easy Indicators - May 18, 2018
- A Cost-Effective Alternative to Telematics? Your Customers are Already Opted-In. - July 14, 2016
- Stop Knocking. Start Searching Addresses and License Plates to Uncover Occupancy Fraud. - June 29, 2016
- Recovering Stolen Vehicles Just Got Easier - October 15, 2015