The National Vehicle Theft Statistics as per 2016 records is alarming. As much as 2.14 lac vehicles have been stolen across the Nation. The recovery rate has been minuscule of 30 vehicles month. These are just the statistics of vehicles as a whole unit. There have been adjacent thefts of different vehicle components too. The spare parts market is a booming business and thrives on the components obtained majorly through theft. These spare parts thefts go unrecorded as they do not even represent a whole unit. Rental car companies have come across car components been replaced with defective ones and the result does not show very soon. Vehicles as a whole have their unique vehicle identification quantity (VIN) that goes on the registration book and dashboard. Vehicles with VIN can be traced back to the rightful owners, but it is difficult to trace back these individual components to its rightful owners.
The saga continues as there has been no fool-proof way to secure vehicles. Information like the VIN on the dashboard can be fabricated and the vehicle is defaced and reformed as good as reincarnated to a new body. Physically tracing back a vehicle is to an extent possible but involves time, effort and labour.
Insurance companies have been functioning on the huge insurance premiums people pay to secure their vehicles. Having a fool-proof vehicle security system in place can ensure that vehicle theft is to a larger extent taken care of. If a sound security system is in place, ideally physical deformations and accident cases in the vehicles can only be a logical reason for paying heavy insurance premiums to Insurance companies.
In case of car theft, it is a rather tedious process to claim insurance, including filing for an FIR with the local police, informing the insurer, informing the RTO. The claim investigation department will then come in to picture and interrogate for confirming the theft report and facts. There are a series of documents that needs to be produced for claims. This includes a no-trace report too. This no-trace report is given by the Police, one month after the date of theft after unsuccessful attempts at tracing the car.
This in all is distress and one has to go through the entire process clueless if the vehicle will be recovered or worst case not even getting the claims in case of gaps in documentation and process.
Microdots Technology has come to change the scenario of vehicle security. A single microdot is a tiny disc of 1 mm and embedded with information specific to a vehicle; like the vehicle identification number (VIN) and other specifics, if required. A database of the VIN is highly secure and maintained by the service provider and accessible only to authorised bodies. The technology is sprayed or painted not only on the vehicle bodies but individual components which ensure all the components of a vehicle have the same identification and equally secured. Microdots are in such huge numbers that the information cannot be defaced or damaged physically. Even a single microdot is sufficient to lead back to the rightful owner. It is a one-time process, affordable and with no maintenance cost.
Microdot is a discreet yet very powerful technology and can change the face of Vehicle Security in India. South Africa, as a country has already adapted Microdot technology ensuring 91% of the stolen vehicles are recovered and a considerable drop in Vehicle insurance premiums from 18% to a mere 8%.