Telematics pioneer CalAmp has collaborated with Mexican insurer GNP Seguros to combat car theft in Mexico.

CalAmp is carrying out the initiative through its unit LoJack México.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The subsidiary will install its stolen vehicle recovery (SVR) technology in GNP-insured new and pre-owned vehicles at Michelin Car Centers and auto dealers in Mexico.

LoJack México general director David Román said: “With leading-edge GPS technology and direct collaboration with local law enforcement, our complete solution can dramatically increase the stolen vehicle recovery rate above 80% across Mexico.

“Our goal is to increase installations by over nine percent per month as we work to expand industry-wide access to this programme.”

In this context, CalAmp cited data from the Mexican Association of Insurance Institutions (AMIS) that reveals that the rate of stolen vehicles surged 36.5% between February 2014 and January 2020.

Over 83,000 vehicles were reported to be stolen last year though the recovery rate of insured cars stood at 34%.

CalAmp said that in Mexico, car theft costs the insurance industry $40m in reimbursement costs on a monthly basis.

GNP Seguros technical director of Cars Omar Perez revealed that the firm’s recovery expenses for stolen vehicles amounted to $2m last year.

Perez noted: “This programme is critical not only to reduce our exposure but to provide our customers with a greater sense of security that their vehicle is protected against the nationwide rise in stolen vehicles.”