2008 Current Technology has reported the Travelers Inland unit of The Travelers Companies had announced an innovative risk control initiative with Current Technology's 51% owned Texas-based subsidiary Celevoke that will allow Travelers customers the ability to purchase Celevoke's LunarEYE Wireless Asset Tracking and Control systems at a discount.
Mr. Joseph Tracy, Chief Underwriting Officer, Travelers Inland said, "We are excited to work with Celevoke, as we see significant value and risk control benefits in the equipment recovery and management systems offered by the LunarEYE system."
"We are pleased to report significant progress with the Travelers risk control initiative," stated Celevoke CEO Chuck Allen.
"We have already shipped several hundred units to Travelers customers and expect the level of activity to grow significantly over the coming months as awareness increases. We have every reason to believe sales will be counted in multiples of thousands of units in the relative near term."
Current Technology CEO Robert Kramer said, "The Travelers risk control initiative is our first insurance-based initiative, but it will most assuredly not be our last. We believe other insurance companies will recognize the value proposition inherent in providing their clients the opportunity to remotely monitor, track, control and protect a wide variety of asset classes using our proprietary technology.
"Indeed, we are presently negotiating with a number of other insurance companies in the United States, Mexico and Brazil, and hope to be in a position to report positive results within the next few weeks."
