Asset safety as a subscription

We have been working with digital locks for almost one year and we have got valuable feedback from our customers. 

Positive news is that No ishare lock has ever been damaged so far and none of our customers have reported bike theft since they have started using iShare chain lock. Initial hypothesis of having anti-theft alarm seems working pretty well. It is providing an extra layer of security compared to traditional bike locks. 

Some of our customers want to have GPS trackers instead of GPS tags. Currently, iShare locks are using tagging GPS location during lock and unlock. 

We had two possibilities either we add a tracker in existing iShare lock architecture or offer GPS tracker as separate device along with iShare Lock. 

We did initial research and found out adding GPS tracker in existing lock is NOT very useful as if there is robbery , thieves usually throw away the lock and if GPS tracker is inside then it will NOT help to recover the asset. 

GPS tracker as an independent device will add more value for customers as they can hide the tracker in the best possible way. Users can recover the asset with the help of police.

Assets ( bikes, boats, kayak etc) safety demand is getting more and more due to theft incidents. 

Last year, more than 70000 assets ( bikes, e-bikes, e-scooter etc) were stolen only in Sweden and students/teenagers were affected the most from it. 

Initial investment for buying a tracker and digital lock could be too much and due to pandemic , people are pretty limited with cash. 

TheiShare’s core concept is to promote a circular economy and reduce ownership. 

We have come up with a concept called “Asset safety as a subscription”. 

Pay small sign up fees and subscribe for digital lock and tracker with Sim card. In case the lock or tracker is broken , we simply replace it with a new one for free and incase if there is NO need for a lock and tracker, cancel the subscription and return the lock and tracker to us. This will help the environment a lot as it will be increasing the utilization of current resources(digital lock and tracker). Users don’t need to invest upfront for purchase . 

Our aim is to launch this in March 2021. Kindly write an email to us if you are interested to know more about it.