- THE MAGAZINE
UPS Capital Corporation, a business unit of UPS that helps customers achieve smarter trade with financing and insurance solutions, announced the expansion of its Jeweler’s Elite Program to San Francisco, Philadelphia and Providence.
Designed specifically to help jewelers protect their high-value shipments, the service delivers time and cost savings by combining UPS shipping with insurance offered through UPS Capital Insurance Agency Inc.
The UPS Capital Jeweler’s Elite Program offers:
• Protection against loss or damage to goods in transit up to the sale price, limited to a $150,000 maximum.
• One-stop claims processing and fast payment.
• Availability across all UPS service levels, including ground shipments.
• Streamlined billing on the customer’s UPS invoice with no extra invoices.
• Coverage for loose stones.
• Protection for international shipments destined for 60 plus countries.
Adam Krief, a UPS Capital Jeweler’s Elite Program customer and president of Accuratime, a Los Angeles international watch seller and manufacturer of mid to luxury watches, said: “We’ve worked with other shipping companies that provided insurance solutions, but because of their limitations, we had to separate shipments into smaller value amounts, leading to more paperwork, logistics and time. This program made sense for us and for our customers, and it has also reduced the amount of time filing claims.”
“After launching successful programs in Los Angeles and New York, these cities seemed a natural stepping stones for our next expansion. With its Jewelry Center, JewelryMart and Diamond Exchange, San Francisco is in the top ten U.S. jewelry markets,” said Dave Zamsky, UPS vice president of marketing, UPS Capital.
“Philadelphia’s Jewelers' Row is located in the Center City section and has more than 300 jewelry retailers, wholesalers, and craftsmen; and Providence has been a major center for jewelry manufacturing since the founding of the American Jewelry industry in Providence back in 1798.”
Another service created to protect high value shipments includes UPS Proactive Response Secure. This service combines proactive monitoring of packages, and, if necessary intervention and remediation, plus insurance through UPS Capital Insurance Agency Inc. According to Tarek Saab, chief operating officer and co-founder of Texas Precious Metals, “this service is helping to transform the precious metals industry.”