From B2B to B2C: The Rise of Courier, Express and Parcel Companies
In today’s fast-paced society, consumers want their purchases delivered right to their doorstep — and quickly. Companies like Amazon have completely changed the way people shop, allowing for the click of a button to bring anything, from a pair of socks to a flat screen TV, to your doorstep in less than a day or two.
Due to the pandemic, many buyers have no other choice than to go this route. In fact, it is estimated that $209.5 billion were spent on online purchases in 2020 alone.
Over the past decade, the courier, express and parcel (CEP) industry has seen significant growth in conjunction with the rise of e-commerce and smartphone penetration into the shopping platform market. Experts believe the final mile of delivery is the most crucial piece of the puzzle in making timely deliveries to consumers’ homes, which is why outsourcing this portion of delivery to CEP companies continues to grow.
According to Click & Connect, it is estimated that 90% of all deliveries are currently made “to door,” and Mordor Intelligence, a leading market research and consulting firm, estimates that the CEP industry will be worth over $400 billion by 2024. The days of picking up your purchases at a brick-and-mortar store are few and far between.
The Devon Park Specialty and USLI Truckers product is designed to target a multitude of delivery companies, from “to door” couriers (like Amazon and DoorDash) to sand and gravel haulers, general freight haulers and refrigerated transport. Trucks hauling short, intermediate and long haul radiuses are all eligible. We can also consider companies with private terminal operations, who perform repair work on owned vehicles and new venture operations. We write up to 50 power units, and our product is non-auditable.
Our truckers general liability coverage provides business owners with the proper insurance they need while making deliveries. We provide general liability limit options up to $2 million/$4 million, with no liability deductible. Our coverage allows business owners to fulfill their contractual hauling obligations by providing the necessary certificates of insurance. Blanket additional insured, waiver of subrogation, and primary and non-contributory wording are also available to help them satisfy their business contracts.
As the way the world shops continues to change, it is important that these businesses have the correct and adequate coverage in place. Contact your Commercial Lines underwriter for more details about our Truckers product.
As always, thank you for your support and business.
Contact Cheryl Ryan
Executive Vice President, Division Leader – Commercial Lines | 844-438-6775, ext. 2582
Written by Bob Kane
March 4, 2021