CALAMP CORP. LONDON and IRVINE, Calif., June 22, 2021 /PRNewswire/ -- CalAmp (Nasdaq: CAMP), a global technology solutions pioneer transforming the mobile connected economy, today announced its subsidiary, Tracker, and cap hpi, a data and automotive services provider for insurers, OEMs and dealers, have joined forces to help car dealers deliver security to their customers, while also tapping into new income streams hidden on their lots.
Car retailers who conduct ownership checks on their stock with cap hpi will also be notified if any vehicle has a Tracker stolen vehicle recovery (SVR) device installed. If it does, dealers can offer a Tracker SVR subscription service to the vehicle's new owner, upon purchase, and earn commissions from Tracker.
This is an extraordinary opportunity for dealers to help customers protect their new purchases with market-leading tracking technology by taking advantage of a Tracker subscription, and without the need for a device purchase and installation. In turn, dealers will be able to offer even more value-added benefits to their customers while also earning additional indirect recurring revenue. More importantly, they will be enhancing the customer experience and strengthening customer loyalty.
"As the nation eases out of lockdown once again, used-car dealers across the UK will be preparing to open their doors to buyers ready to purchase a vehicle," said Mark Rose, managing director for Tracker. "Our collaboration with cap hpi enables these dealers to bolster sales by tapping into hidden revenue opportunities. Owners who trade-in their car often fail to tell the dealer that the car is Tracker-equipped; in fact, they may not have been aware themselves."
"Now these dealers have the potential to uncover hundreds of thousands of unsubscribed SVR service fees that could be sitting undiscovered on retail lots or showrooms. While benefitting from these new hidden revenue streams, the dealers can also strengthen their customer relationships by offering buyers the ultimate peace of mind: knowing that their vehicle is protected in the event of theft. And, although they might not know it, buyers may also be eligible to benefit financially from a reduction in insurance premiums," Rose added.
Tracker is the only SVR provider that works with the UK's police forces to assist in recovering stolen vehicles. Its solutions work like an electronic homing device. Tracker installs a covert transmitter in one of several dozen places around a vehicle. It then uses a unique combination of VHF with GPS/GSM technologies that are resistant to GPS/GSM jamming to locate stolen vehicles if they are hidden in a garage or shipping container, or even if they were shipped abroad.
"One in three cars we check has hidden opportunities for value-added services," said Chris Wright, managing director for cap hpi. "Dealers will easily be able to find out if a Tracker device is fitted to a car on their lot or through a trade-in, simply by running an hpi check. It's a no-fuss opportunity for dealers to make even more revenue without lifting a finger. By bringing together our two powerful data sets we are empowering dealers to help used car buyers to better protect themselves against theft, whilst potentially reducing their premiums. Dealers benefit from an additional revenue source and an enhanced reputation. It is a win-win situation, except for car thieves."
About cap hpi
cap hpi is proud to be a part of the Solera group of companies. Solera Holdings, Inc. was founded by Tony Aquila in 2005 with the aim of bringing about a digital evolution of the insurance industry, starting with the processing of insurance claims. Today, our offerings bring together insurers, OEMs, dealers, SMR industry participants, and our customers' customers, creating a digital marketplace that empowers customers to manage the entire life of their vehicle from a single platform. Solera processes over 300 million transactions annually. With 235,000 partners and customers across over 90 countries, Solera is positioned to enrich the vehicle experience for both the 90% of drivers that won't have a claim on an annual basis and the 10% that do.
About Tracker
Tracker, a wholly owned subsidiary of CalAmp, has been leading the way in the field of vehicle tracking and telematics since 1993. With over a million market-leading security and award-winning fleet management systems fitted to vehicles including passenger cars, motorcycles, HGVs, LCVs and plant and construction equipment, Tracker is still leading the way. Tracker, together with the police has to date recovered over £560 million worth of stolen vehicles and continues to recover on average £1 million worth of stolen vehicles each month. With over a million systems installed to date, its award-winning products ensure its customers have complete peace of mind. For more information, visit www.tracker.co.uk or follow us on Twitter
About CalAmp
CalAmp (Nasdaq: CAMP) is a connected intelligence company that helps people and businesses work smarter. We partner with transportation and logistics, industrial equipment, government and automotive industries to deliver insights that enable businesses to make the right decisions. Our applications, platforms and smart devices allow them to track, monitor and recover their vital assets with real-time visibility that reduces costs, maximizes productivity and improves safety. Headquartered in Irvine, California, CalAmp has been publicly traded since 1983. We have 22 million products installed and over 1.3 million software and services subscribers worldwide. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube or CalAmp Blog.
CalAmp, LoJack, TRACKER, Here Comes The Bus, Bus Guardian, iOn Vision, CrashBoxx and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Spireon acquired the LoJack® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp and holds an exclusive license to the LoJack mark in the United States and Canada. Any other trademarks or trade names mentioned are the property of their respective owners.
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