CalAmp's Tracker, Partners with Grove & Dean to Protect Vehicles and Reduce Motor Insurance Premiums
London, UK and Irvine, CA, USA, Nov. 23, 2020 -- CalAmp (Nasdaq: CAMP), a global technology solutions provider transforming the mobile connected economy, announced its subsidiary, Tracker, has joined forces with Grove & Dean, an independent chartered insurance broker and Performance Direct in the, the general insurance division of Grove & Dean. The collaboration will see the launch of a series of initiatives designed to safeguard assets, reduce insurance premiums and protect loss ratios. The partnership launches with the introduction of Tracker's stolen vehicle recovery (SVR) solutions as an added-value offering to broker customers.
"Grove & Dean is a family-run business, established 50 years ago, and we have always aspired to combine the finest customer experience with policies that provide complete peace of mind," explains Matthew Collett, marketing director of Grove & Dean.
"With car thefts escalating by 52% in the past six years, it became increasingly clear that we needed to introduce new, ethical and robust solutions that protect drivers and their vehicles," Collett added. "Our partnership with Tracker achieves that mission whilst delivering a competitive edge for our underwriters. Tracker's stolen vehicle recovery rate of 95% significantly reduces the risk and cost of potential theft, allowing us to offer lower premiums and increase protection."
"Our partnership with Grove & Dean will enable even more stolen vehicles returned safely to their owners. With a Tracker solution installed, the need for insurance providers to pay recovery costs or settle costly claims will be greatly reduced," commented Mark Rose, managing director of Tracker. "Owners will also be protected from the costs incurred due to a vehicle theft, including their excess liability insurance, loss of no-claims discount and potentially higher premiums in the future. Whilst there is no way to guarantee that a vehicle will never be stolen, installing a Tracker solution will vastly improve the chances of returning a vehicle to its owner."
Posted by Veronica Silva Cusi, news correspondent
Date Posted: Tuesday, November 24, 2020
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