CHICAGO, IL -- (Marketwired) -- 11/11/14 --
Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, announced today they have joined CargoNet® to reduce their risk of cargo theft and to provide an added level of security for their clients. CargoNet is committed to preventing cargo theft and increasing recovery rates through information sharing between theft victims, partners, law enforcement, and NICB. CargoNet is a division of Verisk Crime Analytics, a Verisk Analytics (NASDAQ: VRSK) business.
"CargoNet is leading the way in assisting shippers battle cargo theft by enabling firms to proactively share data to reduce the risk of theft and to improve the probability of recovery when cargo theft has been identified in real time," said David Menzel, President and Chief Operating Officer of Echo Global Logistics. "Cargo crime is an increasing problem in transportation and we are pleased to be working with CargoNet to provide increased security to our shippers."
According to CargoNet data, there were 1,090 reported incidents of cargo theft in the United States in 2013. With the nation's largest database of cargo theft incidents and an information-sharing system, CargoNet offers a layered approach to cargo theft management which includes the ability for carriers to report thefts 24 hours a day, perform analysis of thefts benchmarked to national patterns, and offer proactive theft prevention services.
The platform quickly sends theft data to law enforcement systems which provide personnel with detailed information they need to help recover stolen cargo through the identification of thieves and stop increasingly complex criminal organizations.
"We're pleased to welcome Echo Global Logistics to the CargoNet program, a move which will further help to improve cargo security through access to data from their extensive network of transportation providers," said Anthony Canale, General Manager at CargoNet. "Cargo theft is a serious problem that affects the entire transportation supply chain. Large firms, such as Echo Global Logistics, are vital to helping reduce cargo thefts through collaboration and the sharing of data on a large scale."
About Echo Global Logistics
Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services. Echo maintains a proprietary web-based technology platform that compiles and analyzes data from its network of over 30,000 transportation providers to serve its clients' transportation and supply chain management needs. Echo services clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
About Verisk Crime Analytics
Verisk Crime Analytics is a leading provider of crime prevention services for retailers, manufacturers, motor carriers, logistics companies, equipment owners, and insurance companies and offers data and analytical support to law enforcement. Verisk Crime Analytics provides a comprehensive suite of data management, analytic, and theft prevention services that include prediction, mitigation, response, and recovery. Verisk Crime Analytics is a Verisk Analytics (NASDAQ: VRSK) business. For more information, visit www.verisk.com/crimeanalytics.
Echo Global Logistics, Inc.
Source: Echo Global Logistics
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