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New monthly cargo security index will include insights and analytics to help shippers identify and mitigate risk
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.