JERSEY CITY, N.J., January 17, 2018 — CargoNet, a Verisk (Nasdaq:VRSK) business and the nation’s leader in cargo theft recovery, intelligence, and analytics, and 7PSolutions (7P), a global leader in GPS supply chain management tools, jointly announced today that they will work together to aid mutual clients in reducing cargo theft and recovering stolen cargo.
This alliance will benefit the two organizations’ customers by providing access to a best-in-class, layered approach to reducing cargo theft risk. The combination of 7P’s real-time GPS technology with CargoNet’s 24/7/365 recovery support center, expansive law enforcement communication platform, and cargo theft data can significantly increase the likelihood of recovery after a theft.
“CargoNet is excited to announce this alliance, which will provide our customers with innovative solutions that combine our cargo theft loss data with leading technology tools,” said CargoNet general manager Anthony Canale. “The use of cargo theft data to mitigate risk is valuable; however, when combined with supply chain tracking technology, it becomes actionable. Having visibility into high-risk areas in real time when shipments are in motion creates a tremendous opportunity to avoid risk. Equally exciting is being able to provide our law enforcement partners with more precise location accuracy while a theft is in progress. This complements our existing capabilities and brings significant value to our mutual clients.”
“We are a technology-based company,” stated Jeff Clark, founder and CEO of 7P. “We truly see this collaboration with CargoNet as a way for our mutual clients to take advantage of cargo theft data integrated into our 7P RouteWatch platform, which provides innovative supply chain visibility and management using GPS technology.”
7PSolutions is a global, leading real-time GPS provider serving customers in the retail, pharmaceutical, transportation, law enforcement, and insurance industries. Through our RouteWatch SaaS, 7P is providing the most sophisticated global supply chain management viability tools in the industry. These advanced technologies allow quality control, loss prevention teams, and logistics managers to manage their individual aspects of the global supply chain, allowing for more informed and quicker decision making.
Headquartered in Nashville, Indiana, 7PSolutions operates real-time GPS devices around the world with customers using devices for air, sea, and ground shipments. As a member of the WCA, we provide device management and security capabilities in over 129 countries. For more information, please visit www.7Pgps.com.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2017, Forbes magazine named Verisk to its America’s Best Mid-Size Employers list and to its World’s Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.
Edelman (for CargoNet)