nShift, a parcel and delivery management software provider, and Cover Genius, an insurtech for embedded protection, have introduced nShift Insurance, which can provide shipping insurance for nearly one billion shipments from European merchants.
57% of online shoppers expect a full refund if their package arrives damaged. With over half of consumers receiving damaged goods each year, online retailers risk significant revenue loss to replace and reship those items if accidents happen during the delivery process.
This embedded protection solution allows nShift’s online retailers to replace items that are lost, stolen, or damaged in delivery. This will help them deliver better service to their customers, build loyalty and encourage repeat purchasing
Online retailers and carrier companies typically take great care to ensure that customers receive their items in great condition. But accidents happen.
Maarten Tops, Transsmart product director at nShift, said, “nShift Insurance will help our customers improve the experience they give their customers, build loyalty with shoppers and grow their revenue.
“Partnering with Cover Genius enables us to offer efficient, end-to-end and scalable protection solutions in new markets around the world. It will help retailers and webshops protect themselves from inevitable accidents. It gives shoppers confidence in the delivery process and strengthens trust between vendor and consumer.”
Justin Turner, vice president, global partnerships – shipping, at Cover Genius, said, “We are proud to become nShift’s exclusive global insurtech partner and look forward to serving their ecommerce companies across Europe.
“We have co-created protection solutions that will help their merchants reduce claims processing times and fees leading to a better shipping experience for them and their customers. The AI-backed solution makes it easier to offer total shipping protection customised to each merchant, each purchase and reduces shipping barriers for millions of shipments, wherever they want to go.”