Do I Really Need to Insure?
The Figures
In an ideal world, you’re already insuring your packages. The reality is, close to 10% of all packages shipped by way of major carriers are damaged at some point while in transit. Within those, 5% of the products inside of the packages are also damaged.
94% of buyers equate the level of care that a retailer has for their customers by how well their products arrive at their destination. When your package is received in poor condition, buyers blame you — not the carrier. When your package is received in poor condition, and the products inside are also damaged, how you respond will hold the most influence over whether or not you receive business from that customer again in the future.
The Solution
Shipping insurance provides you with a safety net when your customers receive damaged products; or when their packages are lost, stolen, or shorted while in transit. U-PIC Shipping Insurance has been providing coverage to retailers since 1989, and has teamed up with Kyozou to offer a native solution allowing customers to select insurance during the shipping process.
Our partnership provides protection at rates significantly less expensive than insuring directly through the carrier, and has an online claims portal which will indemnify retailers suffering loss in 7 to 10 business days. This program allows retailers to handle customer service inquiries into lost or damaged products with confidence, and make sure that replacement products are sent out rapidly, in order to keep customers happy. From there, retailers can leave it up to us to make them whole again.
Best Practices
The question always comes down to this — “Who pays for the insurance?” The answer comes in many forms. Many of our clients choose to pay for the coverage in order to ensure that 100% of what goes out, has protection on it. While this is an investment, it’s an investment that allows our clients to focus their attention on things that will help build their business, and not on dealing with irate customers when something goes wrong.
Other options include the ability to allow customers to select and pay for insurance upon checkout. This takes the onus off of the company to float the bill for the coverage. Perhaps the most popular method for covering the cost of insurance, is to build it into the cost of shipping and handling. This method allows for 100% coverage, without paying for it out of pocket. Because the rates that Kyozou users qualify for are highly discounted, most orders with insurance embedded into them will only see a slight increase in shipping and handling costs.
Here’s How You Add Insurance
The process for integrating U-PIC shipping insurance directly with Kyozou is incredibly easy. Follow the steps in the short video below:
Got Claims?
When you need to file a claim, simply visit U-PIC’s custom Kyozou claims page at https://u-pic.com/kyozou to get started. You can file new claims here, and find up-to-the-minute updates on current claims. The process is paperless, easy, and fast. You can expect valid claims to be processed and paid out in 7 – 10 business days.
Questions?
Contact U-PIC Shipping Insurance directly for any questions regarding your account at 800-955-4623 or sales@u-pic.com.