ATLANTA, November 30, 2020 – UPS Capital, a subsidiary of UPS (NYSE:UPS), announced today that it has expanded its AscendTMS® relationship, and made additional shipping insurance coverage options available to small and mid-size companies using the AscendTMS software platform.
This enhancement to the already popular AscendTMS® shipping platform will provide shipping protection to AscendTMS® users allowing them to tailor coverage based on their needs.
This customized approach is achieved by giving users four different options based on their preferred deductible. The options mimic “gap coverage” where the user can tailor coverage, so they only buy what they need. In return, they get a best-in-class claims experience that has been highly rated in customer reviews.
• Coverage that pays on the occurrence of a loss regardless of carrier fault
• Limits and coverages tailored for SMBs
• A best-in-class claims settlement process, highly rated by other SMBs
The typical AscendTMS® user is booking large loads, with a big percentage of transactions moving via full truck load at higher total values. Until now the only option was to purchase excess liability from the carrier, which can often be more expensive. or from their insurance agent which is slow.
“We have given our customers multiple options depending on their risk appetite and the coverage they desire or need,” said Tim Higham, president and CEO of InMotion Global. “If the carrier has provided them with $100,000 of coverage and they need more, we can now offer several options to fill the gap if the load is valued higher.”
Mark Robinson, president of UPS Capital, said; "We are offering a better option – a true insurance solution to cover the full value of goods. Our goal in working with AscendTMS® is to provide businesses a frictionless, digital way to protect their shipments against loss and damage.”
The TMS market is expected to grow 4 times larger than the current size, reaching $4.9B in sales by 2025. “With the exponential growth in these platforms as well as ecommerce platforms, UPS Capital is looking to meet shippers where they transact,” said Robinson.
This integrated solution enables SMBs to digitally procure insurance on a shipment-by-shipment basis with a few key-strokes, paying only for what they need. Users can then provide a better post-sales experience knowing they are dealing with a true insurance company that focuses on paying claims.
The AscendTMS® customer can obtain a quote, review the terms and conditions of coverage and get coverage confirmation through the TMS software, all in under 10 seconds.
To learn more about this solution and the importance of in-transit shipment insurance, join AscendTMS and UPS Capital experts for a free 30-minute webinar on December 2nd at 2pm. Click HERE to learn more and register.
For More Information Contact:
Chris Parker - AscendTMS
(813) 681-5000 x1344
Kristin DeBates - UPS