Wrap Technologies (NASDAQ: WRAP) and XINSURANCE have announced a strategic partnership to launch the WRAP Safe Response Program, a certified operating standard for organizations employing or contracting security personnel. This initiative aims to establish a documented standard for training, equipment, and response protocols to prevent escalation, targeting the U.S. private security workforce of approximately 1.28 million guards across corporations, healthcare systems, schools, retailers, hospitality, transportation, and critical infrastructure.
The program comes in the wake of a June 15 ruling by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) that classified the BolaWrap 150 as neither a firearm under the Gun Control Act nor a weapon under the National Firearms Act. This decision removes a federal barrier to the device's use as an early intervention tool for unarmed security personnel, a significant development for the private security sector.
Under the partnership, WRAP will own, certify, and audit the Safe Response standard, while organizations can adopt it for their own security operations or require contracted security providers to certify their personnel. XINSURANCE will handle insurance activities, including product design, underwriting, pricing, placement, policy servicing, and claims. This model expands WRAP's addressable market beyond law enforcement, enabling enterprises carrying security-related risk to establish the standard across their properties and contracted security operations.
This move is strategically important as it positions WRAP to tap into the growing demand for non-lethal tools and techniques in the private security industry. The BolaWrap 150, which deploys a multi-sensory distraction followed by non-lethal restraint, offers a safer alternative to traditional force options. Used by over 1,000 agencies in the U.S. and in 60 countries, the device is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
The partnership also underscores the broader trend toward de-escalation and risk mitigation in security operations. By creating a certified standard, WRAP and XINSURANCE are addressing the need for consistent training and response protocols in a fragmented industry. This could have significant implications for liability and insurance costs for security providers, as well as for the safety of both security personnel and the public.
For WRAP, this initiative builds on its portfolio of public safety technologies, including the BolaWrap 150, Wrap Reality immersive training platform, WrapVision body-worn cameras, and next-generation counter-drone solutions. The company's focus on non-lethal options aligns with the increasing scrutiny on use-of-force incidents and the push for safer community interactions.
The announcement is likely to attract attention from investors and industry stakeholders, as it represents a new revenue stream and a broader market reach. The full press release can be viewed at https://ibn.fm/lvlln. Latest news and updates on WRAP are available at https://ibn.fm/WRAP.
