Spot, a North American logistics leader, has joined CargoNet® from Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, to fortify its defenses against a surge in cargo theft. This strategic alliance leverages secure data sharing, investigative expertise, and advanced risk analysis to safeguard Spot’s customers and maximize cargo recovery rates. Cargo theft in the United States skyrocketed by over 57% in 2023 compared to 2022, according to CargoNet, a Verisk business, with a further 68% increase in the fourth quarter alone.
Since its launch in 2010, Verisk’s CargoNet has helped its clients recover over $100 million in stolen tractors, trailers, and cargo. In addition, the solution has successfully aided law enforcement with dozens of arrests, using its 24/7/365 command center and cargo crime database. At its core, Verisk’s CargoNet allows transportation companies like Spot and the carriers they work with to reduce their risk of becoming victims of cargo theft and have a better chance at recovering stolen freight.
“At Spot, we are committed to providing our customers with the highest level of security for their freight. By joining Verisk’s CargoNet, we are gaining access to a comprehensive suite of cargo security solutions and information sharing that will help us further protect our customers’ shipments from theft, provide critical information to law enforcement, and report suspicious activity,” said Kreg Hunter, Spot’s Vice President of Operations. “CargoNet’s layered approach to security aligns perfectly with our commitment to providing best-in-class logistics services.”
Leveraging a national database and information-sharing system managed by crime analysts and subject-matter experts, CargoNet offers a comprehensive approach to cargo theft prevention and recovery. This includes recovery support, implementation of deterrence measures, and facilitating real-time communication between theft victims and law enforcement agencies.
“We are pleased to welcome Spot to the CargoNet program,” said Ryan Shepherd, director and general manager of supply chain and equipment solutions at Verisk. “A company such as Spot, which already has a robust and committed security program in place, understands that CargoNet membership provides an added layer of protection to their existing prevention and recovery strategies.”
Spot was founded in 2009 by Andrew Elsener and Andy Schenck, and recently celebrated its 15th anniversary by unveiling its redesigned innovative website and ground-breaking technology platform, MySpot. You can learn more at www.spotinc.com, or hear from industry experts on the Company’s podcast, More Than A Broker, available on Spotify, Apple Podcasts, and other major platforms.