SAN FRANCISCO - March 18, 2014
As the first company to operate the Pony Express in 1861, Wells Fargo & Company (NYSE:WFC) is continuing its long-standing tradition of helping to transport valuables. Today, Wells Fargo Insurance announced it is working with TransGuardian and the U.S. Mail to securely and cost-effectively expedite shipping of high value parcels throughout the U.S.
“Wells Fargo Insurance is pleased to work with TransGuardian to offer higher limits, more comprehensive terms, and better pricing to shippers of gems, jewelry, watches and other high-value cargoes,” said Michael Fitzpatrick, vice president and senior sales executive with Wells Fargo Insurance. “This enhances the supply chain dramatically in whole vertical markets. In a challenging economy, we think we’re about to make history in the field of high-value mail shipments once again.”
TransGuardian develops transportation management software that insures and protects small parcels in transit. With its software, the company automates the registered mail process by printing a single Intelligent Mail Postal Barcode (IMpB) label online. The IMpB enhances online, real-time tracking and accelerates the registered mail service. Through its policy, brokered by Wells Fargo Insurance, TransGuardian provides insurance for the first $25,000 and up to $150,000 of registered mail per parcel. Together, this ensures a secure, cost effective, 2-3-day shipping option for high value parcels including diamonds, jewelry, watches and precious metals.
“TransGuardian has been a strong postal advocate since 2008,” said TransGuardian CEO Jim Moseley. “With the support of Wells Fargo Insurance, we are making Registered Mail more affordable, efficient, trackable, and accessible. In 1958, Harry Winston shipped the Hope Diamond by Registered Mail, and in this last year, internationally famous jewelers, watchmakers, and gold dealers have transferred hundreds of millions of dollars of their business, under our insurance policy, to the USPS. Our clients are saving 50%, streamlining labor, and giving greater satisfaction to their buyers. In a tough economy, this is a major boost to US businesses that collectively turn over $40 billion per year.”
About Wells Fargo Insurance
Recently named North America’s Best Insurance Broker by Global Finance Magazine , Wells Fargo Insurance provides solutions for a wide range of customers, including retail consumers, high net worth individuals, small businesses, as well as middle market and large corporate customers. Wells Fargo Insurance writes or places $15 billion of risk premiums annually in property, casualty, benefits, international, personal lines, and life products and also includes the nation’s largest crop insurance provider, Rural Community Insurance Services (RCIS).
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,000 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With more than 264,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
TransGuardian develops proprietary insured logistics software that provides insurance brokered by Wells Fargo Insurance and underwritten at Lloyds. Its solutions save shippers of high-value parcels 30-50% over any other method and streamline labor. The company’s multi-carrier software has special risk mitigation modules that have made shipping small parcels statistically safer than transportation via armored car. TransGuardian’s software is available as SaaS, on a local or server hard drive, or via API.