GearTrack and Verisk CargoNet Team Up for Enhanced Cargo Theft Protection and Recovery
ATLANTA, March 11, 2025 (GLOBE NEWSWIRE) -- Cargo theft across the United States and Canada reached unprecedented levels in 2024. To help combat this dangerous trend, GearTrack, an intelligent supply chain management solution specializing in real-time asset monitoring and protection, and CargoNet, a Verisk (NASDAQ:VRSK) business and the nation's leader in cargo theft recovery, intelligence, and analytics, announced a strategic collaboration today. This offering introduces a robust new layer of protection for select GearTrack customers, including 24/7/365 cargo recovery support and investigation support through access to CargoNet's extensive law enforcement network and communication platform.
GearTrack customers can access Verisk's theft and fraud risk management tools and analytics through this collaboration, including enhanced cargo theft and fraud intelligence alerts. Furthermore, GearTrack customers will receive customized safety action plans and protection strategies based on route-specific risks, empowering them to take proactive measures. This will be accomplished through GearTrack's incorporation of Verisk CargoNet's RouteScore API, a risk-scoring algorithm, into its platform. Based on these insights, GearTrack will make recommendations for what level of IoT solution the customer needs.
The collaboration will also power new cargo safety analytics and insights, with the upcoming release of the GearTrack Cargo Security Index, powered by Verisk CargoNet. The monthly report will provide a comprehensive view of cargo theft trends across the U.S. and Canada, leveraging CargoNet's data along with expertise from both organizations. Featuring heatmaps and insights, the index will spotlight theft hotspots, emerging risks, and actionable intelligence and recommendations to help shippers, manufacturers, and logistics providers stay ahead of potential threats.
"Working jointly with Verisk CargoNet will allow us to bring unparalleled security and intelligence to the supply chain," said Ilan Gluck, General Manager of GearTrack. "In addition to the enhanced insights we'll be providing to GearTrack customers, our forthcoming Cargo Security Index will further our mission to empower shippers with tools that not only protect their assets but also provide them with the insights needed to make smarter, safer decisions."
With Verisk CargoNet's robust data and GearTrack's IoT-driven solutions, this collaboration aims to enhance the capabilities of cargo protection. By combining real-time intelligence with actionable recommendations, GearTrack and Verisk CargoNet are committed to helping customers safeguard their shipments, optimize operations, and reduce the financial impact of cargo theft.
"By incorporating our extensive theft data with GearTrack's innovative tracking solutions, we're turning analytics into actionable intelligence for our shared clients," said Ryan Shepherd, general manager of Verisk CargoNet. "This collaboration empowers shippers to make informed decisions in real-time, minimizing risk along high-threat routes, and provides law enforcement with GearTrack's precise data during theft incidents. It's one more way we're contributing to the protection of valuable assets and parts of the supply chain."
The collaboration will provide GearTrack customers with training for the enhanced route risk score and protection recommendation tools. Customers will also gain access to Verisk CargoNet's exclusive quarterly and annual detailed cargo theft analysis and trend reports, as well as ongoing cargo theft prevention training and education programming.
The first edition of the GearTrack Cargo Security Index, powered by Verisk CargoNet, is expected to launch during Spring 2025. It will be publicly available on GearTrack's website. Sign up now to be the first to know when the index has launched and receive a copy in your inbox.
About GearTrack
GearTrack is an end-to-end IoT-powered supply chain solution designed to track, monitor, and protect high-value and condition-sensitive assets in real-time. Trusted by industries from construction to consumer electronics, our platform is designed to provide asset-level tracking, alerting shippers to potential risks before they cause costly damage or delays. GearTrack helps companies stay ahead of problems, reduce downtime, and ensure on-time, in-full deliveries. To learn more, please visit GearTrack.io.
About Verisk
Verisk (NASDAQ:VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
Media Contacts:
Erika Belezarian
LeadCoverage (for GearTrack)
[email protected]
Mary Keller
Verisk
339.832.7048
[email protected]
