Across Europe one vehicle is stolen every 3 minutes* and without a means to locate it, like a vehicle tracking system, the recovery rate for stolen vehicles, especially those of high value, is very low.
Teletrac Navman Conected services has over 30 years experience in the stolen vehicle tracking market, having monitored millions of vehicles and helping to recover over £20m (€22.5m) worth of stolen vehicles per year.
Connected stolen vehicle services have become an increasingly popular option for car owners, and for good reason. Here are some reasons why you should consider these services for your customers:
Higher Recovery Rates: One of the most significant benefits of connected stolen vehicle services is that they significantly increase the chances of recovering a stolen vehicle. This is because the tracking system allows law enforcement to quickly locate the stolen vehicle, even if it has been taken out of the country or hidden. The faster the vehicle is recovered, the less likely it is to sustain damage, which saves the customer money on repairs.
Lower Insurance Premiums: Many insurance companies offer discounts for customers who have connected stolen vehicle services installed in their cars. This is because these services make it less likely that the car will be stolen and not recovered, which reduces the insurer’s risk. Lower insurance premiums are a significant selling point for customers, especially those who are looking to save money on their car insurance.
Revenue from Tracking Subscriptions: Offering connected stolen vehicle services can also provide an additional revenue stream for your business. Customers typically pay a monthly subscription fee for the service, which can add up to a significant amount of recurring revenue over time.
Peace of Mind for Customers: Knowing that their vehicle is equipped with a tracking system provides peace of mind for customers, especially those who live in areas with higher rates of vehicle theft. This peace of mind is a valuable selling point for customers, and it can lead to higher customer satisfaction and loyalty.
High Renewal Rates: Finally, connected stolen vehicle services have proven to have high renewal rates. This means that once customers sign up for the service, they are likely to renew their subscriptions year after year. This can provide a steady source of recurring revenue for your business, as well as a loyal customer base.
Connected stolen vehicle services offer many benefits for car owners and can be a valuable service to offer as a business. With higher recovery rates, lower insurance premiums, and the potential for additional revenue, it’s no wonder that these services are becoming increasingly popular. Plus, the peace of mind they provide to customers and the high renewal rates make them an attractive option for any OEM looking to expand its offerings.