Instant insurance verification a reality. (Property/Casualty: Loss/Risk Management Notes).

An estimated 20% of the nation's 240 million vehicles are driven by uninsured motorists. The cost to drivers in uninsured motorist insurance, fraud and accident losses is in the tens of billions.

Using InsureNet USA Inc.'s system, authorities can ascertain the real-time status of a vehicle's insurance policy. Now a police officer can be certain, at road side, that an insurance policy is current and valid on an up-to-the-minute basis. The InsureNet system provides real-time verification of insurance using smart-card technology, mobile card readers, cellular communications and a secure verification system. The smart card bears a chip, which is encrypted so it is virtually impossible to copy or tamper with. The card readers can be used in police vehicles, courthouses, department of motor vehicle offices or anywhere else that real-time status of driver insurance is required. The system also can support the use of bar codes, radio readers, touch-tone telephones and other technologies.

The InsureNet system does not divulge a driver's or vehicle owner's personal details, but instead provides only real-time status information--active or inactive. Additional details, such as the vehicle identification number, policy number and policy source are maintained in blind codes.