Protection 1 to Offer Identity Fraud Coverage for Customers
ROMEOVILLE, Ill. — Protection 1 has partnered with LifeLock, a provider of services to help consumers protect themselves from identity fraud and to better manage their credit.
“With so much activity online, people are seeing the cost of identity theft rise. Today’s security-minded consumer looks for security beyond the home,” Protection 1 Chief Marketing Officer Jamie Haenggi tells SSI. “A stolen identity can feel just as invasive as a burglary and destroy the peace of mind our customers look to protect.”
Last year, more than eight million people were victims of identity theft, according to Javelin Strategy and Research’s “2011 Identity Fraud Survey.” The study reveals that identity theft victims spent an average of $631 per incident in 2010 compared to $387 in 2009, an increase of 63 percent.
Protection 1 will offer the LifeLock service as part of its HomeCore security solution. With every new HomeCore package, customers will receive a free adult LifeLock membership, a $120 annual value. Additional family members, as well as existing customers, will be able to upgrade to the new package at a discounted rate.
So, what can customers expect from the new service?
“The LifeLock service provides a proactive defense system to monitor customers’ identities via a variety of monitoring systems,” Haenggi says. “It actively warns customers of detected change of address and requests that customers’ names be removed from pre-approved credit care mailings. It also patrols underground Web sites for the illegal trading and selling of identity information.”
Another bonus for customers who opt for the LifeLock service is coverage up to $1 million in the event of identity fraud. Should a client become a victim of identity theft as a result of a service failure, LifeLock will provide the necessary tools to help victims fight back. Customers can also add additional family members at a discounted rate.
“LifeLock will spend up to $1 million to hire lawyers, investigators and whoever else it takes to help recover damages, although some restrictions apply,” says Haenggi.
Protection 1 will market the new service through its Web site and sales team. The company plans to integrate other marketing elements in the near future.
Ashley Willis is associate editor for SECURITY SALES & INTEGRATION magazine. She can be reached at (310) 533-2419.
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