WORCESTER, Mass., Sept. 9 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. (NYSE: THG), a leading property and casualty company, today announced a partnership with Celevoke, Inc., a pioneer in wireless global positioning systems (GPS) for construction and other heavy equipment.
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The arrangement will enable The Hanover's independent agent partners to provide even more value to their inland marine customers, by offering them access to the Celevoke's proprietary asset tracking systems and risk mitigation services at a significant discount.
"We are very pleased to partner with Celevoke to offer our agent partners one more way to provide value to customers and be more competitive in their markets," said Sophia Philips, president Hanover marine, commercial lines. "The Hanover's already strong loss control program will be further complemented by Celevoke's products and services. And, given their track record, we believe our policyholders that participate in this program will significantly reduce the risk of both the theft and loss of their expensive equipment."
In addition to discounts on GPS devices, The Hanover's policyholders will gain access to an easy-to-use risk prevention Web site where they can monitor and manage equipment outfitted with Celevoke's devices in real-time. Arming equipment owners with instant notification of a theft and the ability to track the equipment is proven to lead to quick recovery with less related loss. The Celevoke system can be fitted to most construction vehicles in a way that is not obvious or easy to remove.
"We have spent several years working on a risk mitigation program and are excited to align ourselves with The Hanover to offer GPS theft deterrents and risk mitigation services at a discounted price," said Chuck Allen, chief executive officer, Celevoke. "The Hanover's commitment to investing in loss control programs reflects very positively on the industry and we look forward to helping the company, its agent partners and its insureds to reduce their risks and losses over the long term."
About Celevoke
Celevoke is poised to become a market leader in the projected $38.3 billion (by 2011) global market for Machine to Machine technology (M2M) (according to ABI Research), which is the integrated use of telecommunications and informatics. More specifically, it is the science of sending, receiving and storing information wirelessly between machines via telecommunication devices. Celevoke has patented integrated Telematics and Global Positioning Systems (GPS) with sensing technology. This proprietary suite of hardware and software products enables users to remotely monitor, track, control parameters and protect a wide variety of asset classes. Examples include people, meters, automobiles, motorcycles, trucks, shipping containers and covert vehicles used for law enforcement and intelligence gathering in a global marketplace. Celevoke is 62% owned by Current Technology Corporation, (OTC Bulletin Board: CRTCF) and can be reached at www.celevoke.com or 936-334-1800.
About The Hanover
The Hanover Insurance Group, Inc. (NYSE: THG), based in Worcester, Mass., is the holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester; Citizens Insurance Company of America, headquartered in Howell, Mich., and their affiliates. The Hanover offers a wide range of property and casualty products and services to individuals, families and businesses through an extensive network of independent agents, and has been meeting its obligations to its agent partners and their customers for more than 150 years. Taken as a group, The Hanover ranks among the top 30 property and casualty insurers in the United States.
CONTACTS:
Investor Relations Media Relations
Oksana Lukasheva Amy Lynn Banek
E-mail: olukasheva@hanover.com E-mail: abanek@hanover.com
1-508-855-2063 1-508-855-4486
SOURCE The Hanover Insurance Group, Inc.
Contact: Investor Relations, Oksana Lukasheva, +1-508-855-2063, olukasheva@hanover.com, or Media Relations, Amy Lynn Banek, +1-508-855-4486, abanek@hanover.com, both of The Hanover Insurance Group, Inc.