ARMD has launched a new tool protection solution for tradespeople including an inventory management app, smart iOT sensors and smart insurance. The ARMD offering is a radical reinvention of the way that tradespeople can protect their livelihoods.
- Loss of tools and equipment can be devastating particularly for tradespeople who have limited savings or no insurance to replace stolen goods.
- Theft prevention and minimising business interruption are at the core of ARMD. The tool registry app records tool ownership, digital insurance and claim management enable fast processing and IoT sensors to deter van break-ins
- Supports tradespeople by streamlining the current claims process with an in-app self-service system.
- With insurance that can be bought at the checkout, the ARMD E-commerce shop supplies over 30,000 of the top selling tools and can supply immediate replacements for stolen ones
- ARMD is led by a team with a wealth of experience in the technology and insurance industries having sold their previous smart security business in 2019
According to research from Direct Line for Business, thieves steal tools from a van every 23 minutes, equating to more than £80 million worth of stolen tools since 2017.
Duncan Jackson, Chief Commercial Officer said: “The circa 3 million tradespeople in the UK are under protected and underserved and feel let down with the existing insurance experience. 54% have suffered from tool theft but only 44% have tool insurance. Not only do they need to replace the tools at significant cost but also have the consequential cost of not being able to work. For the minority that are insured it can take weeks to get a settlement.”
Jackson added “ARMD has built an offering where tradespeople are at the heart of our solution ensuring that there is minimal disruption to business activity in the event of a loss”
ARMD is an insurtech that combines technology with insurance to mitigate risk and minimise downtime for tradespeople. ARMD’s vision is to make it easier and more affordable for tradespeople to protect their livelihoods.
The ARMD Guard, a smart van alarm, uses motion sensors to provide immediate phone notifications to tradespeople when their van is attacked and includes a GPS tracking facility to track down vehicle location.”
ARMD’s Inventory Management app provides a record of tools that the tradesperson owns which includes verifiable proof of ownership.
ARMD’s dedicated tool insurance is underwritten by RSA and can be bought in the app alongside power tools which is a new distribution channel for insurance instead of the traditional broker market. If a claim needs to be made a Claim Report can be automatically submitted to the insurer from the app as well without having to go through the tedious, cumbersome and stressful process of being talking to a claims handler.
Matthew Stokes of Dennis Security said:” The scale of tool theft is a huge problem for tradespeople and its’ good to see that ARMD are doing something about it. Their unique solution gives tradespeople the protection and peace of mind that they need so that they can concentrate on running their businesses”
Andrew Tyler, Owner of Custom Heating and Coolong said: “Keeping track of my tools is really difficult. The ARMD app is exactly what I need to organise them and to manage my receipts, so I know how much they are worth.”
As part of ARMD’s commitment to minimise business interruption, in what is a unique industry option, the ARMD online tool shop allows claimants to purchase over 30,000 products to ensure that tradespeople can quickly get their businesses back up and running.