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Jewelers Mutual partners with Entrupy to authenticate luxury goods
The Entrupy platform uses a mobile app to check images of items against a database, delivering results within minutes with a claimed 99.8% accuracy rate.
Jewelers Mutual and its general agency, JM Insurance Agency Partners, have partnered with Entrupy to bring AI-powered authentication of luxury goods to pawn businesses across the United States, according to Coverager.
The program is aimed at helping JMIAP clients verify designer handbags, accessories and other luxury items when pawnbrokers acquire goods or issue loans, using a mobile app that captures images of stitching, materials, hardware and logos.
Entrupy’s AI then compares those images with a database of genuine and counterfeit products and returns results within minutes, Coverager reports, with the company claiming an accuracy rate above 99.8%. Authenticated items receive a digital certificate backed by a money-back guarantee that can be shared with customers or kept with loan, purchase and insurance records.
Coverager also notes that the partnership is intended to support a growing shortage of skilled bench jewelers as retirements outpace new entrants into the trade.