DES PLAINES, Ill. — The National Insurance Crime Bureau and IGS, a Las Vegas-based provider of skip-tracing, asset location and collateral recovery services to lenders, recently formed a partnership to better monitor vehicle portfolios.

The agreement is meant to offer auto lenders and vehicle finance companies a full-service monitoring solution for vehicles that might end up with law enforcement or other authorities. Officials explained how this agreement is geared to operate.

NICB indicated that it will monitor a lender's portfolio of vehicles and provide reports three times a day on vehicles that have been impounded, reported as stolen or recovered and presented for export.

Then IGS has agreed to work with the lender to recover the vehicle in an effort to reduce impound and storage costs or to prevent a vehicle from being exported without the lender's permission.

"IGS is pleased to launch a new service offering whereby IGS will be able to act quickly on behalf of our customers to recover at-risk vehicles by using the NICB database to check on the status of every vehicle in a lender's portfolio on a daily basis, minimizing losses and providing significant savings," highlighted Joshua Elias, president of IGS.