Insurance and financial companies

Phantom for insurance and finance companies

For 7 years, we have worked with insurance companies to install real-time satellite-based vehicle security systems, which are tracked together with the dispatch service. Thanks to this, we gained experience working with various online systems, learned their weaknesses, and learned the requirements of insurance companies.

All online systems are at risk of being jammed and turn off. When the on-board network is de-energized or when the car’s battery is removed, any online tracking system can work a maximum of a few days on the built-in backup battery. As a rule, immediately after the theft, the car is driven into a pre-prepared underground garage, where there is no mobile or satellite connection. Then, in the next several hours, the carjackers disassemble the car’s electrical equipment and turn off all online tracking and alarm systems, which are easily found by the power and control wires coming from the battery.

When we developed our Phantom system, our clients, insurance companies, became very happy, as they received an additional and more reliable tool that allowed them to manage their risks and insurance property. The Phantom system is quite easy to install, and it does not require connection and insertion into the standard electrical equipment of the car. Therefore, our system is preferable for installation on premium cars and the most modern models, where official service centers were opposed or could not provide for the installation and connection of additional electronics systems, or when the vehicle's on-board equipment did not allow to intervene and connect any additional devices.

The Phantom system, which is not connected to the on-board devices, allows us to install our devices without violating the integrity of the electrical equipment, thereby preserving the manufacturer's guarantee for this equipment.

The compact size of the device and the ease of installation significantly reduces the cost of installing the Phantom device. Sometimes the cost of installing a Phantom system is 10 times cheaper than other online tracking and security systems, given the cost of installing, equipping, and maintaining it for at least 2 years, compared to the guaranteed period of using the Phantom system.

Thus, in cooperation with insurance companies, partners installed the Phantom system on almost all cars that were at risk of theft. In most cases, the system was provided to the car owner as a gift under the terms of the insurance contract. Indeed, just one car returned with the help of the Phantom system pays off all expenses of the insurance company for the cost of installing a system for car insurance, given the large sum that the insurance company has to pay when a car is stolen.

Thanks to the Phantom system, over 2015-2016 our insurance company partners were able to find more than 45 stolen cars, which were returned to their owners. Thus, the system showed sufficiently high efficiency and reliability in the search for stolen cars.