Oklahoma Selects Rekor Systems to Mitigate Uninsured Motorists

Rekor’s AI-based platform will be integrated across the state to identify non-compliant vehicles

Many states face growing problem of uninsured vehicles on the road

COLUMBIA, Md., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Rekor Systems, Inc., (REKR) (“Rekor”) (the “Company”) a Maryland-based company providing real-time roadway intelligence through AI-driven decisions, today announced that the State of Oklahoma will integrate the Company’s Rekor One™ platform across the state to provide vehicle information associated with uninsured motorists as part of the state’s Uninsured Vehicle Enforcement Diversion Program (“UVED Program”), which is operated by the Oklahoma District Attorneys Council.

Use of the Rekor One platform by Oklahoma’s UVED Program furthers the state’s mission to decrease the number of uninsured motorists on the road and keep matters out of the court system. The platform allows for real-time detection of non-compliant vehicles and instant data consolidation into a regularly updating insurance database connected to the state’s enforcement programs. Additionally, Rekor’s AI-driven technology identifies a vehicle’s make, model and color—providing additional validation for confirming vehicle identification.

Oklahoma created the UVED Program as it ranked number one in the nation for uninsured motorists and after statistics showed that one out of four drivers were operating a vehicle without insurance, despite a legal obligation that motorists must have coverage. Oklahoma is losing millions in potential revenue each year from taxes on insurance premiums, and insured drivers are burdened with the cost of property damage and medical bills, as well as higher premiums, stemming from accidents involving uninsured motorists.

“Oklahoma has hundreds of thousands of uninsured motorists on the road right now, which has huge safety and financial implications for the state and its citizens,” said Robert Berman, president and CEO, Rekor. “We are seeing eye-popping statistics in other states regarding an increase in uninsured motor vehicles on the road (as well as expired tags). Rekor One is a single turnkey solution that Rekor can deliver to any state. It provides all the technology they need, with a high level of data security, to identify uninsured vehicles and take effective measures to ensure compliance.”

A motorist enters the UVED Program by acquiring insurance and paying a $174 enrollment fee, thereby avoiding the possibility of criminal charges, associated penalties, and a permanent mark on his or her driving record.

With over 273.6 million registered vehicles on the road in the United States, approximately 33.5 million are being driven without insurance, according to data derived from the  Insurance Information Institute’s and Federal Highway Administration’s most current data. Nearly one in eight vehicles in the US are uninsured, which puts insured drivers at greater risk in the event of an accident. In addition to the burden on insured drivers, states are deprived of a significant amount of tax revenue that could be earned on insurance premiums that should be paid by millions of vehicle owners.

Rekor will receive a $43 processing fee for each UVED Program enrollment. In addition to deploying technology to identify and process diversion notices issued to uninsured motor vehicle owners on the road, Rekor will also assist Oklahoma drivers by providing a one-stop web portal for uninsured motorists to easily find non-standard and standard insurance for their vehicle. Rekor’s technology supports and ensures adherence to Oklahoma’s privacy regulations. The Rekor One platform only retains data when a vehicle is out of compliance and until the vehicle becomes insured. No additional information is held or shared within the database.

“The goal of the UVED Program is to create safer roadways for Oklahoma citizens. Uninsured vehicles create negative consequences for innocent motorists as well as the State,” said Amanda Arnall Couch, Director, Oklahoma UVED Program. “Rekor, a company based entirely in the United States, was the only bidder to offer a secure, complete solution platform within the framework of single-vendor accountability. This partnership will give UVED an outcomes-oriented approach for non-compliant vehicles, reducing the burden on the criminal justice system while assisting Oklahoma citizens in getting insured.”

Rekor’s technology will assist the State of Oklahoma in identifying uninsured vehicles on the road, and once identified, the enforcement division will issue a “Notice to Respond,'' encouraging a vehicle owner to get insurance and comply with the law. Uninsured motorists cited on the road by police officers can face stiff penalties, including fines, imprisonment, license plate confiscation and/or reinstatement fees.

“The Oklahoma UVED Program is among the first in the country,” Berman concluded. “With Rekor One’s cost-effective and multidimensional technology, we anticipate that many states will initiate similar programs in the near future. An advantage of the Rekor One platform is that it can also be used to support multiple additional community safety, intelligent roadway and revenue generation activities.”

About Rekor Systems, Inc.

Rekor (Nasdaq: REKR) is a Maryland-based company providing real-time roadway intelligence through AI-driven decisions. Rekor provides commercial and government customers with actionable, real-time vehicle recognition data to enable informed decisions to be made faster and provide better outcomes. Rekor is transforming industries like Public Safety, Customer Experience and Smart Cities in more than 70 countries across the globe with smarter, quicker, cost-competitive vehicle recognition solutions for security, revenue discovery and recovery, public safety, electronic toll collection, brand loyalty, parking operations, logistics, and traffic management. We use the power of artificial intelligence to analyze video streams and transform them into AI-driven decisions by our clients. Our machine learning software can turn most IP cameras into highly accurate and affordable vehicle recognition devices used to help protect lives, increase brand loyalty and enhance operations and logistics, without the need to install expensive new infrastructure. We make what was once considered impossible, possible. To learn more please visit our website: https://rekor.ai.

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Media Contact:
Emily Burdeshaw
REQ for Rekor Systems

Investor Contact:
Charles Degliomini
Rekor Systems, Inc.