Dive Brief:
- UPS has acquired Parcel Pro, a company that insures high-dollar shipments such as jewelry and collectibles.
- UPS will now insure packages shipped within the United States up to $150,000 with Parcel Pro, and up to $100,000 per parcel in other select countries.
- Online jewelry sales among the top 500 retailers jumped more than 20% last year to account for 5.5% of all jewelry sales in the United States.
Dive Insight:
UPS subsidiary UPS Capital has acquired Parcel Pro, giving UPS greater access to shipments of high-value items such as jewelry, wristwatches, antiques, and collectibles. Using Parcel Pro’s risk-management and shipping software, UPS will insure packages up to $150,000 in the United States, tripling the limits of most other shippers.
Parcel Pro offers software tools that link with retail e-commerce systems to verify addresses and prevent potential losses, helping track, report and ship precious items. Parcel Pro has offices in seven major jewelry districts around the world, and offers armed-guard pickup and delivery in New York, Los Angeles and Beverly Hills, Calif.
