Protection 1 Aligns with LifeLock to Help Protect Consumers against Identity Theft
July 13th, 2011
July 13th, 2011
Tempe, Ariz. — Protection 1, the second largest electronic security company in the United States, is joining forces with LifeLock, Inc., the nation's premier provider of proactive identity theft protection, to extend the protection available to their customers.
The average out-of-pocket expense for victims of identity theft has increased 63 percent from, $387 per incident in 2009 to $631 in 2010 according to a Javelin Strategy & Research 2011 Identity Fraud Survey Report.
"Identity theft cost Americans $37 billion in 2010," said Protection 1 President and CEO Timothy J. Whall. "Similar to the home security industry, identity thieves prey on people who may not take some of the necessary steps to avoid theft. Yet, even the savviest consumers who take extra precautions can fall victim to cyber thieves or even less modern forms of identity theft like dumpster diving or a stolen wallet."
"Protection 1 believes in security beyond the home," he said. "We know that in this digital age, protecting your identity is a big concern. There were more than eight million victims of identity theft last year alone. This partnership with LifeLock is a natural extension of our brand and just another way we're fulfilling the security needs of modern consumers today."
"From account passwords to phone numbers and Social Security numbers, we are asked to share our personal information nearly every day," said Todd Davis, Chairman and CEO of LifeLock, Inc. "Each time we hand over these key pieces of our personal information, we increase our vulnerability to identity theft."
According to a recently released study conducted by Harris Interactive for LifeLock, examining U.S. consumers' awareness of and usage habits with regards to protecting their identity finds that identity theft victims who subscribed to an identity theft protection service (ITPS) reported spending less time and money resolving the issue than did victims who were not covered at the time of the incident.
"Identity theft can clearly cause headaches for its victims," Davis said. "And, while there are many things we can each do to help protect ourselves from being a victim, based on this survey, Identity Theft Protection Services can help to reduce the impact of identity fraud."
"We're constantly thinking of ways to make our customers safer," said Whall. "We recently launched Protection 1 HomeCore Solution which now includes LifeLock Identity Theft Protection with every system with the option to add additional family members - it's part of our commitment to deliver great solutions coupled with great service."
Protection 1, the second largest electronic security company in the United States, provides installation, maintenance, and monitoring of single-family home security systems, business security systems and multifamily security systems. The company's relentless focus on customer service has resulted in the removal of their automated phone attendant, the introduction of the Tech Trackersm service and the ability to provide same-day service in most cases. Protection 1 is also the nation's largest provider of wholesale monitoring services, through its CMS division, and the leading provider of multifamily security systems installation, maintenance and monitoring through its Network Multifamily division. Protection 1, which serves over one million customers and employs more than 2,500 people in more than 60 locations across the country, has a 95% Customer Satisfaction rating and an A+ Better Business Bureau Rating. For more information about Protection 1, visit www.Protection1.com.
LifeLock, Inc. (NYSE: LOCK), is a leading provider of proactive identity theft protection services for consumers and identity risk assessment and fraud protection services for enterprises. Since 2005, LifeLock has been relentlessly protecting identities by providing consumers with the tools and confidence they need to help protect themselves from identity theft and manage their credit. In October 2012, Javelin Strategy & Research named LifeLock Ultimate™ a “Best in Class Overall” identity theft protection solution and also named it “Best in Detection”. In March 2012, LifeLock further demonstrated its commitment to combating identity fraud with the purchase of ID Analytics, Inc., a leader in enterprise identity risk management that provides visibility into identity risk and credit worthiness. ID Analytics, Inc. currently operates as a wholly owned subsidiary of LifeLock, Inc.