U-PIC

What U-PIC does

U-PIC Insurance Services, Inc., founded in 1989 and headquartered in Westlake Village, California, is a licensed insurance carrier specializing in low-cost parcel shipping insurance for eCommerce sellers, third-party logistics providers, marketplaces, and logistics software platforms. The company's core product is third-party shipping insurance that protects packages against loss, damage, and theft across all major U.S., Canadian, and U.K. carriers (USPS, FedEx, UPS, DHL, regional carriers, and freight) at rates positioned 50–90% below carrier declared-value coverage. Coverage is delivered through three service tiers — a self-serve Buy Now portal for single shipments, a Multi-Buy option for batch coverage, and Volume Discount Accounts (150+ packages/month) for enterprise shippers with custom-quoted rates — and is backed by The Continental Insurance Company in the U.S. and underwritten at Lloyd's through Chaucer in the U.K.

The platform is built around a REST API for programmatic shipment reporting and claims management, an online paperless claims portal with average 7–10 business day resolution, a dedicated Shopify App for checkout-integrated coverage, and branded claims gateways (e.g., amazon.u-pic.com). An AI-powered conversational claims interface, developed with CurrentWave AI, enables 24/7 automated customer interaction. U-PIC operates two divisions: the flagship U-PIC Shipping Insurance business and the School Device Coverage sub-brand for student device protection. The company is SOC 2 Type 2 certified, licensed in California (#0E61972), and FCA-authorized in the U.K.

U-PIC generates revenue primarily through per-shipment insurance premiums structured per Declared Value Unit (DVU), with rates varying by carrier and service level. The business combines four parallel go-to-market motions: product-led growth via the Shopify app and Buy Now portal, enterprise field sales for high-volume shippers and 3PLs, an API-first channel embedding insurance into TMS/OMS/ERP/WMS platforms, and event-driven demand generation at industry conferences (Parcel Forum, Shoptalk, Prosper Show, eTail, etc.). Distribution is amplified by integration partnerships with TikTok Shop, Shipware ($1.5B shipping spend under management, 650 customers), ShipBae, I'd Ship That, Veeqo, and others. The company remains privately held with no external institutional investors disclosed.

Name

U-PIC

Legal name

U-PIC Insurance Services, Inc.

Website

https://u-pic.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

U-PIC is a licensed insurance carrier, founded in 1989, providing low-cost parcel shipping insurance against loss, damage, and theft to eCommerce sellers, 3PLs, marketplaces, and logistics platforms across the U.S., Canada, and U.K., distributed via direct sales, Shopify, and embedded API integrations.

Ownership category

akta.pro rank

Product category

Shipping Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Third-Party Moving Insurance (Transit/All-Risk Policies) (HSAKANAC)

akta.pro secondary industries

Claims Management & Cargo Insurance Administration (TLAIANAK), Claims Handling, Documentation & Dispute Resolution Services (HSAKANAI)

Keywords

• Shipping insurance
• Parcel protection
• Ecommerce fulfillment
• Logistics insurance
• Carrier coverage alternatives

Headquarters

HQ city

Agoura Hills

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Per-Shipment Insurance Premiums: U-PIC charges a per-shipment insurance premium based on the declared value of goods being shipped. Rates are structured per DVU (Declared Value Unit) and vary by carrier and service level. The Buy Now program offers standard rates for occasional shippers, while volume discount accounts receive tailored lower rates. This is the primary revenue stream.
2. Volume/Enterprise Account Premiums: High-volume shippers, 3PLs, and platform partners receive custom-quoted rates and volume discounts, generating recurring premium revenue from direct accounts. These accounts are managed by dedicated sales representatives and account managers.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

U-PIC is a licensed insurance provider that sells third-party parcel shipping insurance covering loss, damage, and theft across all major carriers (USPS, FedEx, UPS, DHL, Amazon Shipping, and regional carriers) at rates 50–90% lower than carrier declared value coverage. Its products are delivered via a self-serve Buy Now portal, a Shopify App, REST API integrations for platforms, and direct enterprise accounts for 3PLs, marketplaces, and freight forwarders, with claims processed online in an average of 7–10 business days. The company also operates a School Device Coverage division and is licensed in California (#0E61972) and the U.K. (underwritten at Lloyd's through Chaucer).

Product overview

U-PIC Insurance Services Inc. operates as a licensed insurance provider with two divisions: U-PIC Shipping Insurance (core product since 1989) and School Device Coverage. The flagship U-PIC Shipping Insurance platform offers third-party parcel insurance through three service tiers: Buy Now (instant single-shipment coverage), Multi-Buy (batch shipments), and Volume Discount Accounts (high-volume enterprise pricing via direct application). The platform integrates via a REST API and dedicated Shopify App, with claims processed through branded portals including Amazon/Veeqo-specific gateways. All coverage is underwritten by The Continental Insurance Company and backed by SOC 2 Type-2 certification. The company serves ecommerce sellers, 3PLs, marketplaces, and logistics platforms across U.S., Canada, and U.K. markets.

Differentiator

Problem solved

Functional benefit

Brands

• School Device Coverage: Protects student technology from accidents, theft, and damage, giving families and schools peace of mind. Covers cracked screens to water damage with a fast claims process.

Products and services

• U-PIC Shipping Insurance Third-party parcel shipping insurance covering loss, damage, and theft across all major carriers at rates 50–90% lower than carrier declared value coverage, with claims processed online in 7–10 business days.
• Buy Now Coverage Self-serve single-shipment insurance with standard rates and no applications or commitments, intended for occasional or small-volume shippers needing immediate coverage.
• Multi-Buy Coverage Multiple shipment insurance allowing users to insure several packages in one submission for small batch shipments originating in U.S., Canada, or U.K.
• Volume Discount Accounts Direct enterprise accounts for high-volume shippers (150+ packages/month) offering higher limits and lower per-shipment rates with custom quotes.
• U-PIC REST API Programmatic REST API for partners to report shipments, activate coverage, and manage claims in real time, enabling native integration into TMS, OMS, ERP, WMS, shipping label platforms, marketplaces, and fulfillment centers.
• U-PIC Shopify App Official Shopify application letting merchants offer optional Checkout Insurance at checkout with real-time claims data, enabling customers to opt in for lost/damaged/stolen shipment protection.
• Amazon/Veeqo Claims Portal Dedicated claims gateway for Amazon and Veeqo sellers to file and track insurance claims, including coverage terms documentation and claim status checking.
• School Device Coverage Technology insurance covering student devices for schools and families, protecting against cracked screens, water damage, theft, and accidents with a fast claims process.

Quantifiable outcome

• Save 50–90% vs. carrier declared value rates — e.g., FedEx $8.25 vs. U-PIC $4.20 per shipment
• +2 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability4 records

Feature6 records

Partnerships

Ten partnerships are on record, tiered core.

• Chaucer / Lloyd's (UK Program Underwriter)coreOthers · 1 December 2025UK insurance program underwritten at Lloyd's through Chaucer, a specialty (re)insurance group and member of China Re Group (rated A Excellent by AM Best, A Strong by S&P). This partnership enables U-PIC's UK licensing and compliant coverage for UK-domiciled shippers.
• ShipBaecoreTechnology or Integration · 1 August 2025BaeGuard program powered by U-PIC, embedded into ShipBae's multi-carrier shipping platform. Allows users to insure shipments from USPS, UPS, FedEx, and DHL with a single click at checkout. Claims processed in 7–10 business days.
• I'd Ship ThatcoreTechnology or Integration · 1 July 2025U-PIC integration into the I'd Ship That mobile shipping platform, enabling over 10,000 users to add licensed parcel insurance with a single tap at label creation. Saves up to 50% vs. carrier insurance with coverage for loss, damage, and theft.
• TikTok ShopcoreStrategic or Co-development Partner · 1 September 2024U-PIC is the official shipping insurance partner for TikTok Shop, providing integrated coverage for TikTok Shop sellers at rates up to 90% lower than carrier insurance, with claims processed in 7–10 business days.
• CurrentWave AIcoreTechnology or Integration · 1 April 2024Strategic partnership to develop an AI-powered conversational interface for U-PIC's claims system, enabling real-time 24-hour customer interaction with claims information. Bliss Landon, President & CEO of U-PIC, called it a milestone for the company.
• ShipwarecoreStrategic or Co-development Partner · 1 April 2024Strategic partnership combining U-PIC's affordable shipping insurance with Shipware's parcel cost optimization expertise. Shipware has $1.5B in shipping spend under management and 650 customers, enabling clients to save on both shipping costs and insurance.
• AmazoncoreStrategic or Co-development PartnerTrusted insurance provider for Amazon shipments with a dedicated claims portal (amazon.u-pic.com) for Amazon sellers and Veeqo users. Amazon is named as a key customer and trusted brand.
• DHL eCommercecoreStrategic or Co-development PartnerTrusted partner providing shipping insurance for DHL shipments. Named alongside Amazon as a global brand that trusts U-PIC for parcel insurance.
• ShopifycoreChannel Partner/ Reseller/ DistributorOfficial Shopify app partner with a native app in the Shopify App Store. Merchants can offer optional Checkout Insurance at checkout, manage coverage from their Shopify dashboard, and file claims directly through the platform.
• The Continental Insurance CompanycoreOthersU-PIC's shipping insurance is backed by The Continental Insurance Company, enabling the company to pass savings directly to customers while maintaining reliable coverage.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Shipsurance: Shipsurance is a third-party parcel shipping insurance provider offering coverage across USPS, UPS, FedEx, and DHL with online claims and API integration — directly competing with U-PIC's core product, target customers (eCommerce sellers, 3PLs), and per-shipment pricing model.
• InsureShip: InsureShip provides third-party shipping insurance for eCommerce merchants and 3PLs with API and Shopify integration, positioning it as a direct alternative to U-PIC in the per-shipment parcel insurance market with comparable carrier-agnostic coverage.
• Cabrella: Cabrella offers shipping insurance and supply-chain risk management for eCommerce brands and 3PLs, with API-based integration and embedded checkout offerings — closely mirroring U-PIC's product, customer base, and distribution strategy.
• Parcel Insurance Plan (PIP): PIP is a longstanding parcel insurance provider covering loss, damage, and theft across major carriers for eCommerce shippers — a direct competitor with overlapping customer segments (SMB shippers, 3PLs) and carrier-agnostic coverage model.

Broad incumbents

• UPS Capital: UPS Capital is the carrier-affiliated insurance, financing, and risk services arm of UPS, offering parcel protection, cargo insurance, and supply chain solutions — a broad incumbent whose UPS Declared Value offering is U-PIC's primary competing price benchmark.
• FedEx (Declared Value / Insurance Services): FedEx offers built-in declared value coverage and shipping insurance on parcel services, representing the largest incumbent alternative to U-PIC and the price benchmark U-PIC consistently references in its 50–90% savings messaging.

Emerging players

• Route: Route provides package tracking and shipping protection (insurance) at checkout for eCommerce merchants, competing for the same embedded checkout insurance use case U-PIC is pursuing via its Shopify and TikTok Shop integrations.

Others

• EasyPost: EasyPost is a shipping API aggregator used by eCommerce platforms and 3PLs — adjacent infrastructure where U-PIC's insurance product is embedded alongside label generation, comparable in ecosystem positioning to U-PIC's TMS/OMS/WMS integrations.
• Shippo: Shippo is a multi-carrier shipping API and label platform for SMB eCommerce shippers — an adjacent ecosystem participant where U-PIC's insurance could be embedded as a native add-on, comparable in target market and integration style.
• ShipStation (Auctane): ShipStation is a multi-carrier shipping software platform widely used by eCommerce merchants and 3PLs — adjacent ecosystem where U-PIC's insurance offering competes for native integration, comparable in target user base and shipping workflow context.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/upicinsurance
• LinkedInlinkedin.com/company/u-pic-shipping-insurance
• Instagraminstagram.com/upic_insurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about U-PIC