UPS Capital Launches Consumer-Elected Insurance Feature in InsureShield® App for Shopify
New offering provides enhanced flexibility for merchants and ability to give more control and choice to consumers at checkout
Today’s small and medium-sized businesses (SMBs) are facing supply chain disruption, skyrocketing inflation, and increased shipping risks like porch piracy. These market headwinds can threaten business reputations and test the limits of customer loyalty. To help SMBs improve the shipping experience, UPS Capital Insurance Agency, Inc. (UPS Capital) is launching new capabilities within the InsureShield® App for Shopify enabling consumer-elected insurance at checkout.
“Amidst supply chain volatility, today’s shoppers are actively seeking options to better protect the items they buy online. In fact, recent research by UPS Capital shows that 65% of consumers would be interested in the option to add coverage for their packages to specific online orders,” said Mark Robinson, President of UPS Capital. “We’re confident this new offering will help Shopify® merchants better prepare for the unexpected, give them opportunities to improve their bottom line and offer a better customer experience by providing more control and choices to consumers. Our data shows that 86% of SMBs believe that providing consumer-elected insurance options will have a positive impact on their profitability.”
Empowering Consumers and Merchants with Personalized Options
Many consumer-elected insured shipping solutions on the market today take an “all or nothing approach,” where package coverage is available to either the consumer or the business, but not both. With the launch of consumer-elected protections within the InsureShield® App for Shopify, UPS Capital aims to meet the demand expressed by customers for a more flexible, customized solution. Protection can be elected for shipments by the consumer at checkout, enabled at the discretion of the merchant, or the merchant can personalize their approach with back-end business rules that protect the merchant if the consumer opts out of protecting their shipment. These business rules can be broad or specific, depending on the unique needs of the Shopify merchant, including options to insure certain SKUs, products over a certain price point, or shipments going to specific regions. Designed to take a “set it and forget it” approach, these business rules enable merchants’ peace of mind, as they can still be covered for high-value or easily breakable shipments even if the consumer opts out.
Merchants can cover shipments across multiple carriers, with access to higher limits at affordable, competitive price points. Visibility into which orders are insured is also available in the app, so merchants can quickly resolve an issue if they need to file a claim. Shopify users looking for additional personalized options can work with a licensed agent to create a more customized policy. The flexible insurance offerings are designed to help merchants better protect their brand reputation and enhance the post-purchase experience in the wake of a shipment loss or damage.
Building Trust Between Businesses and Consumers
Merchants have access to consumer-elected protections through UPS Capital’s suite of APIs as well as access to the InsureShield® App for Shopify. Regardless of which of these methods are selected for protection, merchants can expect comprehensive, multi-carrier coverage and a robust claims portal with 24/7 access to claims status. To help SMBs avoid the drag of slow claims on their finances, and to help protect their bottom lines, UPS Capital strives to deliver claim payments within days for most claims.
LegacyBox, a longstanding UPS Capital® customer, helps people preserve and digitize their most precious memories through a quick and easy mail-in model. Given the high stakes of priceless mementos, LegacyBox was one of the first UPS Capital customers to incorporate consumer-elected protection APIs, giving their customers peace of mind.
“Trust is paramount between us and our customers as we handle their irreplaceable memories,” said Adam Boeselager, founder and CEO of LegacyBox. “Being able to provide consumer-elected protection at checkout enhances our customers’ confidence in our ability to preserve their priceless, sentimental memories. We’re excited that UPS Capital is leading the charge to provide consumer-elected protection with our unique business needs in mind.”
To learn more about the InsureShield® App for Shopify, please visit: upscapital.com/ShopifyApp/.