INSURANCE

As with most companies involved in the financial markets, insurance companies have been battered by the recent downturn in the global economy. With unemployment rising and many people struggling to make ends meet, crimes like the theft of high-value assets are increasing. The insurance companies that insure these assets are faced with increases in claims and higher operating costs.

In many cases the only way to offset these higher costs is by raising deductibles and passing on losses to the customer. At a time when many companies and consumers are attempting to cut costs, higher deductibles may cause insurance customers to look at their insurance policies as “too expensive.”

The most effective way to reduce insurance claims is to ensure that items are not stolen in the first place. However, when an asset is taken, the easiest way to minimize insurance payouts is to increase the likelihood of recovering the high-value asset.

Through advanced location tracking platforms and location-enabled tracking devices, an insurance company or law enforcement agency can acquire the precise location for an asset in real time regardless of whether the goods are indoors or outdoors.

Omnilink’s experience in the real-time tracking of people and valuable assets has enabled the company to build the most accurate, industry-specific tracking solutions. These solutions can be leveraged by companies in all industries, including insurance, to help minimize the risk of high-value assets being stolen and to recover stolen goods quickly. FocalPoint™, award-winning, location-based services (LBS) platform, is the backbone of each industry solution offering the most accurate aggregation of data from devices in the field.

The flexibility of its LBS platform enables Omnilink to provide solutions that can easily integrate with and provision almost any tracking device, allowing insurance companies to assign devices to specific assets to begin acquiring location data almost immediately.

Whether the specific solution involves an existing Asset Tracking application or a specialized tool built on the FocalPoint™ platform, users always have the benefit of all the platform’s features, including real-time and historical tracking; inclusion and exclusion zones; enter and exit zones; complex scheduling; detailed reporting, and more.