UPS Capital Insurance Agency is making its shipping insurance coverage options available to small and medium-sized businesses through AscendTMS.
AscendTMS is a transportation management system from InMotion Global, helping freight shippers and trucking companies improve their operations.
The deal will enable access more tailored insurance coverage, with the ability to pick between four deductibles. These options mimic fap coverage where the user tailors coverage so they buy what they need.
Typically, AscendTMS users books large loads, with a percentage of transactions moving via full truck load at higher total values. The only option was to buy excess liability from a carrier or their insurance agent.
The integrated solution will enable AMBs to digitally procure insurance on a shipment-by-shipment basis with a few key strokes and only paying what they need. Customers can receive a quote, review the terms and conditions, and get the cover they need.
“We have given 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 options to fill the gap if the load is valued higher.”
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