CargoNet RouteScore API to Combat Cargo Theft

Verisk's CargoNet RouteScore API uses a proprietary algorithm to generate a cargo theft route risk score that provides a relative measure of probability that crime and loss will occur.

Cargo Net Object Chart
CargoNet

Verisk launched CargoNet RouteScore API, a solution aimed at significantly minimizing the risk of cargo theft. RouteScore API uses a proprietary 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 exemplifies our commitment to helping the industry manage and mitigate risk,” says Ryan Shepherd, general manager of Verisk’s CargoNet. “By providing actionable insights through advanced data analysis, Verisk is empowering the insurance and the transportation industry to protect their assets and ensure a safer delivery of goods.” 

 

Key takeaways:

  • RouteScore measures the probability of a loss for individual risks by assigning a score of 1 to 100 — with 1 representing the lowest likelihood.
  • RouteScore is based on critical 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.  
  • Additionally, users can align high-risk lanes with best-in-class carriers, helping to ensure optimal security measures are in practice. 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. 
  • According to CargoNet's annual analysis, cargo theft activity reached unprecedented levels in 2024, with 3,625 reported incidents, representing a 27% increase from 2023. The estimated average value per theft rose to $202,364, up from $187,895 in 2023.
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