RouteScore API provides a theft-route risk score that measures probability of crime and loss along routes in the U.S. and Canada
Jersey City, N.J.—Cargo theft losses in the U.S. continue to climb: 2024 is projected to record 25 percent more losses than 2023, a year that also reached all-time highs for reported incidents. Verisk, a data analytics and technology provider, has launched CargoNet RouteScore API, a solution aimed at minimizing the risk of cargo theft.
RouteScore API uses an algorithm to generate a cargo theft route risk score that provides a relative measure of probability that crime and loss will occur along any route in the U.S. and Canada.
RouteScore measures the probability of a loss for individual risks by assigning a score of 1 to 100 (1 representing the lowest likelihood). RouteScore is based on factors such as cargo type, value, length of haul, origin, destination, day of the week, and the theft history of truck stops.
In addition to generating a score, the model also observes the key variables that most influenced the score and provides a list of the riskiest truck stops along the route.
A high-risk score of 98, for example, may prompt the implementation of additional security measures such as tracking devices, driver teams, relays, escorts or securing parking spots in advance and more.
Users can align high-risk lanes with best-in-class carriers, helping to ensure optimal security measures are in practice. The solution is available in an API format, facilitating integration with third-party Transportation Management Systems (TMS) and proprietary systems. Additional third-party platforms, such as supply chain risk management, fintech, insurtech and telematics platforms, will also be able to source the solution and make it available for customers.
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