Verisk’s National Equipment Register (NER) and KYCS Global Collaborate to Enhance Heavy Equipment Security and Theft Recovery Capabilities

Rhea-AI Summary

Verisk's National Equipment Register (NER) has partnered with KYCS Global to enhance heavy equipment security and theft recovery through the integration of KYCS Locate technology. This strategic collaboration targets businesses in agriculture, construction, and industrial services, combining NER's extensive data and tracking capabilities with KYCS's recovery device technology. The upgraded solution, now named IRONwatch Locate, offers new functionalities and incentives, including complimentary HELPtech registration and insurance benefits. Among the highlights is a theft deductible waiver up to $10,000, aimed at providing financial security and operational efficiency to clients.

Positive

• The partnership combines KYCS’s recovery device technology with NER’s robust data and tracking capabilities.
• Introduction of IRONwatch Locate, which offers enhanced functionality for theft recovery and asset security.
• Clients gain access to complimentary HELPtech registration and insurance incentives.
• Theft deductible waiver up to $10,000 provides financial relief to affected businesses.
• Improved operational efficiency by potentially reducing rental fees, delayed penalties, and stalled costs.

Negative

• Heavy equipment theft continues to rise, potentially increasing the demand for such solutions.
• Cost implications for businesses needing to adopt the new technology and integrate it with existing systems.

NER's IRONwatch is now powered by KYCS Locate, giving clients unprecedented benefits for theft recovery and security of assets

JERSEY CITY, N.J., June 04, 2024 (GLOBE NEWSWIRE) -- National Equipment Register (NER), a Verisk (Nasdaq:VRSK) business and a dedicated source of information for insurance and law enforcement agencies equipment theft risk, and KYCS Global Inc., a leader in providing solutions for simplifying theft-recovery and identification of assets, announced today that they are collaborating to provide cutting-edge security and recovery solutions for heavy equipment assets.

This strategic integration revolutionizes the ecosystem for theft-recovery and security of assets and offers unprecedented benefits to businesses across agriculture, construction, and industrial services industries. The agreement between Verisk, a leading global data analytics and technology provider, and KYCS Global will combine KYCS’s recovery device technology with NER’s robust data and tracking capabilities. It will also bring together related incentives from insurance providers and will be available to equipment and fleet operators across North America. As a result of this enhancement, NER’s IRONwatch solution will now be called IRONwatch Locate, to better communicate the increased functionality offered to clients.

“Our research shows that heavy equipment theft continues to rise. Our goal is to prevent our clients from becoming a statistic, so we are excited to join forces with KYCS to offer our clients superior theft recovery technology and product support by leveraging our industry contacts and unique datasets,” said Ryan Shepherd, general manager of supply chain and equipment solutions at Verisk. “The combined, complementary strengths of the two groups makes our new offering much more compelling for our clients.”

“It has been a privilege to add our unwavering commitment to innovation, professionalism, and customer satisfaction to NER’s already leading data about load condition monitoring and location tracking capabilities along with their related insurance incentives,” said Dana Rowe, vice president business development at KYCS Global. “The combination distinguishes IRONwatch Locate from other theft recovery offerings available in the theft recovery market today.”

In addition to the cutting-edge theft-recovery functionalities, users of Verisk’s IRONwatch Locate gain access to complimentary HELPtech registration and insurance incentives. The industry's leading online database for tracking stolen heavy machinery, Verisk’s HELPtech serves as a crucial resource for law enforcement officials in recovering stolen equipment. This invaluable tool not only facilitates swift recovery but also helps businesses save money on expenses such as rental fees, delayed penalties and stalled costs.

One of the most compelling incentives offered is a theft deductible waiver of up to $10,000, providing financial relief and peace of mind to businesses in the event of theft. This incentive, coupled with the comprehensive features of IRONwatch Locate, reinforces NER's commitment to delivering innovative solutions that empower businesses to safeguard their assets effectively.

To learn more about equipment theft, visit NER’s website at http://www.ner.net.

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, ESG 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. 

About KYCS Global Inc.
KYCS Global Inc. is a technology firm that develops cutting-edge theft-recovery and asset identification solutions for law enforcement and for businesses seeking to optimize their operations and safeguard their assets, while adding revenue to their bottom lines. KYCS boasts never-before-seen exclusive OEM partnerships with Honda Canada and Acura Canada, with more OEM partnerships to be announced throughout 2024. KYCS is also exclusively partnered with leading crime prevention organizations such as Crime Stoppers USA and Crime Stoppers Canada and exclusively endorsed by dealership bodies such as the RVDA and RVRA across North America. KYCS is widely approved by major insurance providers for both personal lines and garage policy benefits. For more information, visit www.kycs.ca or contact Dana Rowe at the information provided below.

FAQ

What is Verisk's new solution for equipment theft recovery?

Verisk has introduced IRONwatch Locate, an enhanced theft recovery and asset security solution in collaboration with KYCS Global.

How does IRONwatch Locate benefit businesses?

IRONwatch Locate offers improved theft recovery technology, complimentary HELPtech registration, insurance incentives, and a theft deductible waiver up to $10,000.

Who can use IRONwatch Locate?

IRONwatch Locate is available to equipment and fleet operators across the agriculture, construction, and industrial services industries in North America.

What financial incentives are associated with IRONwatch Locate?

Clients benefit from a theft deductible waiver up to $10,000, which provides financial relief and peace of mind in case of theft.

What additional support does Verisk's IRONwatch Locate provide?

Clients gain access to HELPtech, an industry-leading online database for tracking stolen heavy machinery, assisting law enforcement in equipment recovery.