×

UPS Capital to Provide Insurance Solution for Roadie Shipments

ATLANTA, Nov. 02, 2015 (GLOBE NEWSWIRE) -- UPS Capital, a subsidiary of UPS® (NYSE:UPS), today announced its licensed affiliate, UPS Capital Insurance Agency, Inc., will provide Roadie, Inc., a neighbor-to-neighbor delivery network, with a parcel insurance solution that will protect items shipped via the Roadie community with a value up to $10,000.

“While Roadie provides a new way of shipping items, senders still need to know that their valuable goods are protected during transit,” said Ronald Chang, president of UPS Capital. “With our extensive experience in secure transport, UPS Capital provides Roadie the ability to assure senders that their shipments are protected. UPS Capital is a leader in using new technologies and innovative programs to help companies like Roadie protect their customers’ goods.”

Roadie automatically protects items with a value up to $500 at no additional charge. Previously, Roadie senders could add an additional $2,500 in protection for an extra fee of $5 per each additional $500 in value. Now, Roadie offers senders the opportunity to protect shipments with up to $10,000 in value under a parcel insurance policy issued to Roadie through UPS Capital Insurance Agency, Inc. As a result, Roadie senders can elect to protect a $5,000 item for only $45.

“With the expertise UPS Capital provides in secure logistics, Roadie senders have even more peace of mind that their items are protected,” said Marc Gorlin, founder and chief executive officer of Roadie. “Giving our senders increased confidence that their shipments are protected is just one more way the Roadie community is winning loyal customers and providing another way for people to ship items.”

Since it launched in January 2015, more than 175,000 people have downloaded the Roadie app. Roadie drivers have delivered items ranging from car keys to couches to kayaks throughout the United States.

For more information about UPS Capital or Roadie, visit www.upscapital.com or www.roadie.com. Follow UPS Capital on Linkedin® (https://www.linkedin.com/company/ups-capital) and Twitter® (@UPSCapital). Follow Roadie on Twitter® (@Roadie), Facebook® (https://www.facebook.com/roadie) and Instagram® (https://instagram.com/roadie_app).

About UPS Capital

Nobody understands transportation and logistics like UPS. And while you’ve probably never thought of a UPS company for financing and insurance services, the global supply chain expertise of UPS Capital uniquely positions us to help protect companies from risk and leverage cash in their supply chains. Insurance companies and banks can’t say that. UPS Capital and its affiliates have offices throughout the United States, as well as operations in Asia, Europe and Latin America. For more information, visit www.upscapital.com, call 1-877-242-7930, or follow UPS Capital on Linkedin® (https://www.linkedin.com/company/ups-capital) and Twitter® (@UPSCapital).

About Roadie

Roadie, headquartered in Atlanta, is an app-based community that puts unused capacity in passenger vehicles to work by connecting people with stuff to send with drivers heading in the right direction. Roadie’s model enables efficient, low cost delivery for senders and rewards drivers for trips they were already taking. Roadie is backed by Warren Stephens of Stephens Inc.; the UPS Strategic Enterprise Fund; Eric Schmidt’s TomorrowVentures; David Bonderman, founder of TPG Capital; Guggenheim Partners’ Executive Chairman Alan Schwartz; Square Co-founder Jim McKelvey; the Mellon Group; former CEO of ISS Tom Noonan, and H. Barton Asset Management, among others. To learn more about this neighbor-to-neighbor shipping network, visit www.roadie.com.

(c) Copyright 2015 United Parcel Service of America, Inc. UPS, UPS Capital, and the UPS Shield are trademarks or registered trademarks of United Parcel Service of America, Inc. All rights reserved. Insurance is underwritten by an authorized insurance company and issued through licensed insurance producers affiliated with UPS Capital Insurance Agency, Inc., and other affiliated insurance agencies. UPS Capital Insurance Agency, Inc. and its licensed affiliates are wholly owned subsidiaries of UPS Capital Corporation. Insurance coverage is not available in all jurisdictions. LinkedIn is a registered trademarks of LinkedIn Corporation and its affiliates in the United States and other countries. Twitter is a trademark of Twitter, Inc. in the United States and other countries. Facebook and Instagram are registered trademarks of Facebook, Inc. in the United States and other countries.

Kristin DeBates 404-828-4032 kdebates@ups.com

Source: UPS