UK-based independent chartered insurance broker Grove & Dean has partnered with telematics pioneer CalAmp’s subsidiary Tracker.
The partnership aims to roll out a series of initiatives to safeguard assets, cut down insurance premiums, and protect loss ratios.
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This includes the launch of Tracker’s stolen vehicle recovery (SVR) solutions as an added-value offering to broker customers.
Grove & Dean marketing director Matthew Collett said: “With car thefts escalating by 52% in the past six years, it became increasingly clear that we needed to introduce new, ethical and robust solutions that protect drivers and their vehicles.
“Our partnership with Tracker achieves that mission whilst delivering a competitive edge for our underwriters. Tracker’s stolen vehicle recovery rate of 95% significantly reduces the risk and cost of potential theft, allowing us to offer lower premiums and increase protection.”
Tracker’s solutions developed to handle all missing vehicles in collaboration with all UK police forces as well as pan-European law enforcement agencies.
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By GlobalDataIt is said to help in the immediate recovery of the missing vehicle before it can be exported, dismantled for parts or given a new vehicle identification number (VIN) and re-sold.
In addition, these solution leverages theft recovery protocols, including a 24/7/365 emergency contact centre.
Tracker managing director Mark Rose said: “Our partnership with Grove & Dean will enable even more stolen vehicles returned safely to their owners. With a Tracker solution installed, the need for insurance providers to pay recovery costs or settle costly claims will be greatly reduced.
“Owners will also be protected from the costs incurred due to a vehicle theft, including their excess liability insurance, loss of no-claims discount and potentially higher premiums in the future.”
In May this year, CalAmp collaborated with Mexican insurer GNP Seguros to combat car theft in Mexico.
