Assurant Partners with Kudelski IoT’s RecovR Solutions to Offer Theft Recovery and Inventory Management for Automotive Customers
Partnership with Kudelski IoT will bring enhanced loT management technology to dealership customers and an innovative vehicle theft recovery solution for consumers
Cheseaux-sur-Lausanne, Switzerland, Phoenix (AZ), USA and Atlanta (GA), USA – September 19, 2023 –Kudelski IoT, a division of the Kudelski Group (SIX: KUD.S), the world leader in digital security and IoT solutions, today announced a partnership with Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects, and connects major consumer purchases such as automobiles. Assurant will offer RecovR as part of its comprehensive Assurant Vehicle Care suite of vehicle protection products. Kudelski IoT has developed RecovR, an innovative two-in-one lot management and theft recovery solution, which boosts operational efficiency by minimizing inventory search time and providing data to optimize vehicle reconditioning steps. This empowers sales teams to efficiently locate vehicles, enhancing customer satisfaction and sales effectiveness, all while offering dealer customers state-of-the-art technology and an intuitive theft recovery solution.
This collaboration between Assurant and RecovR introduces additional revenue opportunities to Assurant’s dealer customers selling RecovR while addressing the pressing need for theft recovery solutions given the rising vehicle theft rates in the United States. The National Insurance Crime Bureau (NICB) reported that over one million vehicles were stolen in 2022, a seven percent increase over 2021. The RecovR solution, provided to dealerships at no upfront cost, delivers a secure and transformative digital solution for automotive dealers by improving inventory management and operational cost efficiency. With its wireless, battery-operated design, the RecovR solution seamlessly combines cutting-edge communication and multiple positioning technologies. This enables automotive dealers to easily install RecovR and receive precise position information across a wide range of conditions.
The RecovR platform offers the flexibility to integrate additional components, including vehicle OBDII health information and key location functionality. These enhancements provide dealerships with valuable data, enabling process transformation and driving revenue growth across various areas, including key retrieval, parts, and service offerings.
“Our partnership with RecovR will help us provide innovative digital tools and data our dealer customers need in today’s rapidly evolving competitive landscape,” said Joshua Sonnier, Assurant vice president of global strategy realization and product development. "The advanced positioning technology in RecovR brings significant value through innovative data, protection, and theft recovery capabilities.”
Hardy Schmidbauer, Senior Vice President of Kudelski IoT, emphasized the significance of RecovR’s partnership with an industry leader like Assurant. “This collaboration accelerates the reach of RecovR to a broader customer base, enabling Kudelski IoT to focus on leveraging its expertise in technology, asset tracking, and security to expand its solution offering for the automotive sector.” Schmidbauer added, "Our goal is to provide technology and data that will introduce new revenue sources and business models to the automotive industry."
About Assurant Global Automotive
Assurant Global Automotive is a leading global solutions provider in the automobile and commercial equipment industries. Automotive industry partners span manufacturers, large group and independent dealers, agents, third-party administrators, financial institutions, insurance providers, and vehicle technology companies. With over 50 years of automotive industry experience, Assurant protects 54 million motor vehicles in 19 countries by providing innovative solutions like vehicle service contracts, guaranteed asset protection, and ancillary products, while providing dealer performance management and training, participation options, and more. Assurant Global Automotive is also a market leader in protection products for the commercial equipment industry, with more than 30 years of equipment protection expertise. Assurant provides a full suite of protection products and services for equipment dealers and financial institutions supporting commercial equipment. These include extended service protection plans, physical damage protection, guaranteed asset protection, automatic insurance, portfolio protection, insurance tracking services and more.
Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other products.
About Kudelski IoT
Kudelski IoT is the Internet of Things division of Kudelski Group and provides end-to-end IoT solutions, IoT product design, and full-lifecycle services to IoT device manufacturers, ecosystem creators, and end-user companies. These solutions and services leverage the group’s 30+ years of innovation in digital business model creation; hardware, software and ecosystem design and testing; state-of-the-art security lifecycle management technologies and services and managed operation of complex systems. For more information about Kudelski IOT, please visit www.kudelski-iot.com
About Kudelski Group
The Kudelski Group (SIX: KUD.S) is a world leader in digital business enablement technologies that encompass digital content security, public access, cybersecurity, and IoT.
NAGRA provides end-to-end convergent media solutions to the digital entertainment industry including services and applications requiring access control and rights management to secure the revenue in digital television, internet, mobile and interactive applications.
SKIDATA is the world market leader in public access and visitor management with over 10,000 installations in over 100 countries, providing fast and safe access for people and vehicles.
Kudelski Security is an innovative, independent provider of tailored cybersecurity solutions to help enterprises and public sector institutions assess risks and vulnerabilities and protect their data and systems.
Kudelski IoT provides end-to-end solutions, IoT product design, and full-lifecycle services to IoT device manufacturers, ecosystem creators and end-user companies.
The Kudelski Group is headquartered in Cheseaux-sur-Lausanne, Switzerland and Phoenix (AZ), USA with offices in 32 countries around the world. For more information, please www.nagra.com.
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