|
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. An additional unique advantage is that this system is also non-invasive, ensuring protection for every insurer and policyholder.
Nationally, it has been estimated that one driver in five is uninsured at any given time, but many now estimate that it is actually higher and everyone agrees that the rate is rising quickly. 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 confirm the “more than 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 and saves the Insurance Industry even more......thus ensuring that those losses need not be passed on and enabling insurance rates to fall so that policyholders may benefit.
InsureNet is provided without charge to every one of the over 35,000 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. NLETS, now handling almost 100 million transactions each month and operational since 1961, 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 they do already, (they can actually do less), and no special software, hardware or implementation is required. This new system is also far safer than what is done now, but is totally accurate, providing all parties with reliable, automatic, and totally safe data which is completely free of all personal details.
|
