NEW YORK, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Shippo, the leading shipping platform for modern e-commerce, and Cover Genius, the insurtech for embedded protection, today announced a partnership to enhance the merchant experience with the launch of Shippo Total Protection, an innovative solution that provides merchants with comprehensive protection, global coverage and seamless claims handling. With this enhanced insurance offering, Shippo’s network of 100k+ merchants can now cover an order’s total value, shipping label costs, return shipping for damaged parcels, and reshipping costs for insured packages across North America, EMEA and APAC, enabling them to protect their bottom lines and their customer’s shipping experience.
“Shipping protection has long been an add-on option we recommend to our users for peace of mind and we’re excited to team up with Cover Genius to enhance the experience for our merchants,” said Andreas Lieber, Chief Operating Officer at Shippo. “Shippo users now benefit from new features like porch piracy protection, global coverage, and affordable pricing, to name a few. The claims process is also quicker and easier so our users can quickly recoup losses and better serve their customers.”
Shippo Total Protection powered by XCover, Cover Genius’ award-winning global distribution platform, offers merchants several benefits including:
- Comprehensive global shipping protection - The protection extends to all shipping/parcel carriers and includes innovative features like porch piracy coverage to help protect merchants from emerging threats.
- Global coverage - Previously, Shippo merchants could only add shipping insurance for outbound shipments originating from the United States. By partnering with Cover Genius, the coverage is now extended to packages being shipped from other countries throughout North America, EMEA and APAC. With licenses or authorizations in more than 60 countries and all 50 US States, Cover Genius helps its shipping partners scale globally and offer protection for any shipment or destination conveniently through a single API.
- Easier claims processing - Cover Genius’ seamless claims process has reduced the time to resolve claims and get reimbursements, with payments of reimbursements for approved claims processed instantly in over 90 currencies. This innovative, digital-first approach has led to an industry-leading post claim Net Promoter Score (NPS) of +65‡.
On the partnership, Cover Genius’ CEO and Co-Founder Angus McDonald said, “We’re thrilled to welcome Shippo, the #1 multi-carrier shipping software trusted by 100K+ brands, to our network of logistics partners. We’ve brought a data driven approach to shipping insurance and eliminated the long wait times and coverage gaps that plague the industry. Our co-created solutions are up to 20% cheaper than insurance from traditional carriers, and our claims process is up to 20 days faster, removing unwanted friction and providing a more customer-centric experience that minimizes overhead costs.†”
With this new partnership, Shippo users now have access to the best-in-class shipping insurance experience, seamless storefront integrations, discounted rates from a large network of global and regional carriers, smart defaults, and experienced shipping support. With Shippo, businesses of all sizes can optimize their logistics workflow and grow their business.
Shippo Total Protection powered by XCover is now available across North America, EMEA and APAC.
‡ Cost savings are based on a comparison of all Cover Genius shipping protection versus published carrier rates for Fedex, UPS, DHL, USPs, UPS, Old Dominion, DHL, XPO Logistics, Estes Express Lines, YRC and TForce Freight as at June 27, 2022. Time savings are based on average resolution times (i.e. the duration from initial filing to completed payment) for all XCover shipping protection claims as at May 31, 2022 (sample size = 868) compared with the industry average time including payment settlement (min. 6 days) and period to acknowledge a filed claim.
About Cover Genius
Cover Genius is the insurtech for embedded protection. Through XCover, our global distribution platform for any insurance or other type of protection, we protect the global customers of the world’s largest digital companies including Booking Holdings, owner of Priceline and Booking.com, Spirit, Uber, Hopper, Trip.com, Ryanair, Turkish Airlines, Descartes ShipRush, Zip and SeatGeek. We’re also available at Amazon, Flipkart, eBay, Wayfair, and SE Asia’s largest company, Shopee.
Together with our partners, we co-create solutions to embed tailored, optimized protection that’s licensed or authorized in over 60 countries and all 50 US States.
In addition, we provide customers with a seamless, end-to-end experience via XCover.com. XCover.com handles customers’ needs – from the initial sale through to administration and claims, resulting in an industry-leading post claims NPS of +65. Its award-winning service design has shown to reduce support tickets by 7x.‡
‡ The score includes any type of claim and claim outcome across our partner network except for those partners with less than 30 claims and those not assessed by Cover Genius. Inquiry statistics are derived from an internal analysis of 1,355 random XCover support inquiries from December 2022, of which 1,258 (93%) had not activated their XCover account and 97 (7%) had.
About Shippo
Founded in 2013, Shippo is the leading shipping platform for modern e-commerce. More than 100,000 businesses, including top e-commerce platforms, marketplaces, warehouses, and brands, trust Shippo to navigate the complexities of shipping and fuel growth. With Shippo's platform, businesses of all sizes can access 37 global carriers, get real-time shipping rates, print labels, automate international paperwork, track packages, facilitate returns, and more. To learn more, visit goshippo.com.
Cover Genius Media Contact
Shelley Petri
Director of Marketing Communications
pr@covergenius.com
