Complete Inventory management system
One of the functions of thePlantfiles is to help insurance companies underwrite their Plant & Equipment portfolios, thePlantfiles provides a security tagging and identity solution that works with the plant owner’s existing tracking and security systems. This not only deters theft, but also provides the police with the real time detailed information they need to identify and recover stolen plant and equipment.
Lower premiums based on reduced risk
In exchange for participating in a security system that minimises plant theft, thus leading to decreased insurance claims, it affords the insurance companies a real opportunity to be more competitive. Information is ‘Star rated’ and the risk to the insurer significantly reduces as the ‘star rating’ goes up. It is an extremely competitive market and insurance companies tend to compromise on detail in an effort to win business. However, Plant owners who proactively record the detail are certainly in a better position to lobby for a better premium than those who don’t.
thePlantfiles works in partnership with insurance companies. We strive to promote and secure reduced premiums for all asset owners who register and create forensic files on thePlantfiles. We do not work a ‘Bounty’ system for recovery of stolen assets. Our core values are based on trust and honesty and we have a vision to create a united community that values these virtues and who participate in proactively preventing asset theft and at the same time freely assist in the recovery of such stolen assets.
This database website platform will help Insurance Companies underwrite Contractors Plant Insurance.
In doing so it will generate significant claims savings for Insurers of Plant & Equipment.The database is primarily designed to help Insurers identify insured Contractors plant & so reduce fraudulent claims, under-declaration and plant cloning. The system also links-in suppliers of security devices. The creation of this information database will reduce asset theft and crucially, the simple drop down theft report generated will provide the Police with the relevant information needed to identify and recover stolen Plant & Equipment, all in Real time.
If one is able to permit access to verified ownership records along with comprehensive identification information pertaining to an asset, then this will make it much easier to assess the integrity of the asset and facilitate the buyer to evaluate the sellers true status. Sellers must be authorised and buyers are now provided with a system that allows them with ease to judge whether or not the seller is authorised to engage in a sale.