A Letter to the Recovery Industry from Insight LPR

As the safest LPR Provider in the market, Insight LPR encourages ongoing industry dialogue and appreciates the opportunity to address several key points raised by our competitor in their recent communication. In this response, we will:

Examine the root causes of multiple agents appearing at the same location.
Clarify how the Insight model effectively addresses these issues.
Discuss the benefits of a multi-platform strategy.
Emphasize the value of removing non-compete clauses.
Review the kit cost comparison from an ROI perspective.

Root cause of agents arriving at the same location

Our competitor’s LPR ecosystem is structured to maximize data monetization by disseminating the same information to multiple parties through numerous channels. These include lender-purchased data, forwarder integrations, advanced alerts, historical hits, data resellers, exclusive forwarder partnerships, favored agent access, target density maps, MV Smart Assign, and more. This approach is what creates significant risks by sending overlapping assignment information to multiple agents for the same location.

How Insight LPR addresses the root causes

Insight LPR believes that agent safety is non-negotiable. Our business model, including data dispatching policies, is designed to prioritize agent safety. When agents, lenders, or forwarders partner with Insight LPR, we are transparent and clear with them that we never dispatch vehicle location information to multiple sources; it is only sent to the scanning agency.

Multi-Platform Strategy

Our competitor has proposed limiting hotlist placement to a single LPR platform for 45–60 days, urging lenders to prioritize them. While this may benefit our competitor, it fails to address agent safety. For over a decade, lenders have staged with multiple platforms like DRN, MV, and Plate Locate without issue. So why is our competitor suddenly criticizing a multi-platform strategy? Is it because there is a new competitor in town? The problem isn’t multi-platform staging—it is our competitor’s evolving data dissemination strategy.

Insight LPR supports multi-platform strategies to enhance competition, innovation, and asset recovery. Restricting lenders to one platform undermines these benefits. We remain committed to providing lenders, agents, and forwarders with choices—not mandates.

We polled a handful of Insight agents and asked two questions:

Since you have been with Insight, how often do you run into our competitor’s agents at the same address? Answer – Never.
When you were with our competitor, how often did you see another agent at the same address? Answer – On average, 2 times a week, sometimes twice a day.

For any lenders considering making changes to their LPR strategy, we encourage you to reach out to the Insight LPR agent network directly and hear for yourself.

Non-compete Clauses

Our competitor has announced changes to its affiliate agreements, including reducing non-compete durations and increasing minimum scan requirements. While these adjustments represent incremental progress, they highlight the inherent restrictive nature of its business model and affiliate contracts.

At Insight LPR, we take a fundamentally different approach. We do not impose non-compete clauses that limit agents’ ability to explore opportunities with other LPR platforms. Instead, our partner program is built on inclusivity and flexibility. We do not require mandatory equipment purchases or enforce scan quotas. Our focus is on fostering long-term partnerships based on mutual success, ensuring that affiliates have the freedom to operate without unnecessary contractual burdens.

As our competitor revises its Affiliate agreements, we encourage them to adopt a more agent-friendly approach, such as matching our zero-day non-compete policy. By eliminating restrictive terms entirely, the industry can move toward a more collaborative and equitable environment where agents, forwarders, and lenders can thrive.

Kit Cost Comparison

Our competitor claims cost advantages over Insight LPR, but their analysis is misleading and overlooks key factors. For example, their assertion of a $625 monthly kit payment is inaccurate. Let’s clarify the facts.

Insight LPR offers a comprehensive lease model with bumper-to-bumper coverage
If equipment fails or becomes outdated, Insight LPR will replace it at no extra cost
Our competitor claims their equipment lasts 10 years, with no mention of costs related to out-of-warranty repairs, replacements, or downtime. This is inconsistent with routinely voiced industry feedback.
We have seen a 30% improvement in recovery rates from Insight agents who have previously operated under other LPR platforms. Could this be the true cost of data leakage under our competitor’s model?

ROI Analysis – Assuming an agent with our competitor averages 100 repos per month and $400 per repo, they could lose up to $12,000 in revenue each month from data leakage.

Conclusion:

Multi-Platform Strategy is not the reason why multiple agents show up at the same address. The reason is data being shared and sold to multiple entities within the lending ecosystem. We greatly appreciate this dialogue and see its value in pushing our industry forward. We invite DRN to an open discussion at this year’s NARS Conference with Agents, Lenders, and Forwarders in the room to dive deeper into this critical topic.

Insight LPR

A Letter to the Recovery Industry from Insight LPR