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Track & Trace = Lower Insurance on Cargo
ARGO Tracker partners with Global Solutions Insurance Services to offer prospect of lower insurance rates for companies adopting real-time asset tracking solutions
Tucson, AZ — April 16, 2007 — ARGO Tracker, a provider of real-time asset tracking and cargo monitoring solutions, announced today the formation of a strategic alliance with Global Solutions Insurance Services (GSIS) for a preferred commercial transportation program.
ARGO Tracker uses sensor technology and data recording modes to provide real-time container integrity and environmental monitoring capabilities. Additionally, through GPS receivers, users are provided with precise container location awareness on a 24/7 basis.
For its part, GSIS pioneered spot excess cargo insurance quote systems, and its Freight Guard offering allows trucking companies to purchase online excess cargo when the value of their loads exceed their motor truck policy limit.
The joint program, which is expected to reduce insurance costs by 10-30 percent, bundles the availability of preferred insurance rates through GSIS with companies selecting the ARGO Tracker asset tracking and monitoring solution.
Mike Hammons, CEO of ARGO Tracker, sees two reasons for the rising interest within the insurance industry with regard to track-and-trace technology solutions such as those offered by his company.
"The first is that our solutions have been shown to lead directly to reductions in claims frequency and severity," he explained. "Secondly, it allows the insurance industry the opportunity to penetrate new markets involving high-risk goods. This combined effect is the reason why GSIS is able to provide highly discounted insurance programs combined with a high level of support services."
Glenn Stebbings, president and chief operating officer of GSIS, agreed: "GSIS has always strived to bring innovative solutions to the insurance market. ARGO Tracker's solutions have provided a way to benefit insurance clients by giving them better insight into their fleet's location, as well the performance of their drivers and the safety of the cargo. We are combining their solution with our unique technology and insurance relationships to deliver substantial benefits."
ARGO Tracker uses sensor technology and data recording modes to provide real-time container integrity and environmental monitoring capabilities. Additionally, through GPS receivers, users are provided with precise container location awareness on a 24/7 basis.
For its part, GSIS pioneered spot excess cargo insurance quote systems, and its Freight Guard offering allows trucking companies to purchase online excess cargo when the value of their loads exceed their motor truck policy limit.
The joint program, which is expected to reduce insurance costs by 10-30 percent, bundles the availability of preferred insurance rates through GSIS with companies selecting the ARGO Tracker asset tracking and monitoring solution.
Mike Hammons, CEO of ARGO Tracker, sees two reasons for the rising interest within the insurance industry with regard to track-and-trace technology solutions such as those offered by his company.
"The first is that our solutions have been shown to lead directly to reductions in claims frequency and severity," he explained. "Secondly, it allows the insurance industry the opportunity to penetrate new markets involving high-risk goods. This combined effect is the reason why GSIS is able to provide highly discounted insurance programs combined with a high level of support services."
Glenn Stebbings, president and chief operating officer of GSIS, agreed: "GSIS has always strived to bring innovative solutions to the insurance market. ARGO Tracker's solutions have provided a way to benefit insurance clients by giving them better insight into their fleet's location, as well the performance of their drivers and the safety of the cargo. We are combining their solution with our unique technology and insurance relationships to deliver substantial benefits."
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