Some form of Motor Vehicle Insurance is now mandatory in every U.S. State, the District of Columbia and Puerto Rico, however the losses sustained each year due to fraud and insufficient or incorrect data is in the tens of billions of dollars. These costs are passed on to policyholders and taxpayers. In response, InsureNet has developed a simple yet complete answer that delivers totally accurate, instant insurance status verification and ensures compliance. An additional unique advantage is that this system is also non-invasive, ensuring protection for every insurer and policyholder. The identity of a driver is never known and the system is fully transparent with a portal for the ACLU.
Nationally, it has been estimated that one vehicle in five is uninsured at any given time and the uninsured vehicle problem has reached epidemic proportions costing countless lives and billions in losses annually. The difference between the number of vehicles in service as reported by NADA, (National Automobile Dealers Association – nada.org) and those insured as reported by III, (Insurance Information Institute – iii.org), and other sources, certainly appear to now confirm the “one in five” estimate. All elements of insurance fraud, including the use of fake documents, backdated policies, repair scams, premium diversion and more, continues to grow each year. InsureNet addresses all problems created by these fraudulent practices while streamlining the entire vehicle insurance process. It provides dramatic benefits to insurers, governments and the public. It saves and provides the average State Government with hundreds of millions of dollars annually without cost, fees or taxes of any kind and saves the Insurance Industry even more......thus ensuring that those losses need not be passed on. This enables insurance rates to fall so that policyholders may benefit financially as well know they and their family and friends are far safer.
This solution is provided without charge to every one of the over 37,000 law enforcement agencies in the U.S. and also to every vehicle insurer. It is available without cost to all U.S. Citizens and Residents… by telephone, PDA or computer “24/7/365”. It is hosted by NLETS, the national law enforcement communications system. Now handling over 1.5 billion annual transactions and operational since 1966, it has never been compromised. It is linked to the FBI, and all Canadian Provinces. It is the means by which all state law enforcement agencies communicate interstate. The InsureNet technology assigns a "UC", (Unique Code), to each combination of policy and VIN, (Vehicle Identification Number), which becomes the "bridge" between insurers and government entities and records. No insurer is required to do anything more than what they do now (and most will do far less), and no special software, hardware or implementation is required. This new system is also far safer than what is done currently, but is totally accurate, providing all parties with reliable, automatic, and totally safe data which is also… free of all personal details.