When planning routes for their delivery trucks, fleet managers—or more likely, their route planning software systems—consider factors like mileage, road height and weight restrictions, traffic conditions, and weather. They can now add another variable to the mix, thanks to a new tool that calculates the chances that a load might be stolen along the way.
Developed by New Jersey-based risk assessment firm Verisk Analytics, CargoNet RouteScore API generates a cargo theft "risk score" that provides a relative measure of probability that crime and loss will occur along any given route in the U.S. and Canada. Using a proprietary algorithm, the tool rates routes on a scale from 1 to 100—with 1 representing the lowest likelihood of theft—based on risk factors such as cargo type, value, length of haul, origin, destination, day of the week, and the theft history of specific truck stops.
Companies can also use the tool to protect their cargo proactively, Verisk says. For example, before sending a truck out on a high-risk route, a carrier could implement additional security measures like tracking devices, driver teams, and escorts or even secure parking spots in advance.
Verisk adds that the tool's API format allows for easy integration with both proprietary systems and the third-party transportation management systems (TMS) that many companies use to manage their trucking operations.
