Parcel Insurance Plan
Parcel Insurance Plan (PIP), founded in 1966 in St. Louis, provides third-party shipping insurance to business shippers using UPS, FedEx, USPS, and DHL. Policies are underwritten by Arch Insurance Company (A+ A.M. Best) and priced monthly by shipment volume.
- Company typePrivate
- Founded1996
- HeadquartersSt Louis, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Parcel Insurance Plan does
Parcel Insurance Plan (PIP) is a third-party shipping insurance provider founded in 1966 and headquartered in St. Louis, Missouri. The company issues insurance policies that cover packages lost or damaged in transit through UPS, FedEx, USPS, DHL, and other small parcel or freight carriers, with international coverage spanning all countries except Russia. PIP serves thousands of business shippers across hundreds of industries, qualifying customers that ship package values over $500 per day or spend at least $1,000 annually on declared value charges with carriers. Operating as a DBA of Parcel Insurance Agency in California (license #0D85835) and New York (license #981276), the firm is privately held with no disclosed institutional ownership or parent company.
The product is a single, unified shipping-insurance policy rather than a platform-plus-modules offering. Underwriting and claims-paying ability are entirely backed by Arch Insurance Company, which carries an A+ (Superior) rating from A.M. Best. Operational technology centers on integration with major shipping manifest software (UPS WorldShip, FedEx ShipManager, Endicia, Stamps.com) for automated monthly reporting and claims submission, plus a dedicated online claims portal (pip-claim.com) with a separate workflow for USPS shipments. The company carries BBB accreditation and offers claims settlement within 7-10 business days of receiving required documentation.
PIP generates revenue through recurring monthly insurance premiums collected from business customers, with quote-based pricing tied to shipment volume, average package value, and highest insured value per package; no long-term contracts are required. Go-to-market combines a direct website quote-request flow, content marketing on shipping risk and loss prevention, and a state-by-state broker network (with named representatives such as Evelyn Teason, Brenda Norman, and Lisa Lash) for policy servicing and premium remittance. Distribution covers the United States and Canada, with no disclosed funding history, M&A activity, or recent leadership changes.
Parcel Insurance Plan firmographics
Firmographics- Name
- Parcel Insurance Plan
- Legal name
- Parcel Insurance Plan
- Website
- https://www.pipinsure.com/
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Parcel Insurance Plan (PIP), founded in 1966 in St. Louis, provides third-party shipping insurance to business shippers using UPS, FedEx, USPS, and DHL. Policies are underwritten by Arch Insurance Company (A+ A.M. Best) and priced monthly by shipment volume.
- Ownership category
- akta.pro rank
Parcel Insurance Plan industry classification
Industry- Product category
- Commercial Shipping Insurance
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Cargo Insurance Placement & Policy Administration (All-Risk, ICC A/B/C) (TLACAHAG)
Keywords
Where Parcel Insurance Plan is headquartered
LocationHeadquarters
- HQ city
- St Louis
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Parcel Insurance Plan business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Others
Revenue model
- Third-Party Shipping Insurance Premiums: Parcel Insurance Plan generates revenue by collecting insurance premiums from businesses that ship packages. The company offers an alternative to carrier-provided declared value, charging rates that are typically lower than carrier insurance while providing more comprehensive coverage. Premiums are paid monthly (billing cadence implied by monthly report submission process). Revenue is volume-based, scaling with the number and value of insured packages shipped by customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard commercial shipping insurance with volume-based pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Parcel Insurance Plan product offering
Product offeringCore offering
Parcel Insurance Plan provides third-party shipping insurance that covers packages lost or damaged while in transit via UPS, FedEx, USPS, DHL, and other small parcel or freight carriers. Policies are underwritten by Arch Insurance Company (rated A+ by A.M. Best) and are sold primarily to businesses shipping over $500 in value per day or spending $1,000+ annually on declared value charges. Coverage includes international shipments with no country restrictions except Russia, and extends to items typically excluded by carriers such as electronics, cell phones, and jewelry.
Product overview
Parcel Insurance Plan (PIP) is a single, unified third-party shipping insurance product offering comprehensive coverage for lost or damaged packages during transit. The service covers shipments via UPS, FedEx, USPS, and other freight or small parcel carriers. All policies are underwritten by Arch Insurance Company rated A+ by A.M. Best. PIP is not a platform-plus-modules architecture; it operates as one core insurance product with supporting online claim filing tools.
Differentiator
Problem solved
Functional benefit
Products and services
- Parcel Insurance Plan (PIP) Shipping Insurance Third-party shipping insurance providing coverage for packages lost or damaged during transit via UPS, FedEx, USPS, DHL, and other small parcel or freight carriers. Includes international coverage with no country restrictions except Russia, and covers items typically excluded by carriers (electronics, cell phones, jewelry). Sold to businesses shipping over $500 in value per day or $1,000+ annually on declared value charges. Policies are underwritten by Arch Insurance Company (A+ by A.M. Best), with claims paid within 7–10 business days and no contracts or long-term commitments required.
Companies that use Parcel Insurance Plan
Customer profileSegments3 records
Ideal customer profiles3 records
Parcel Insurance Plan technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Parcel Insurance Plan partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
Parcel Insurance Plan competitors and assessment
Company assessmentDirect peers
- PackageValue Insurance: PackageValue is a niche third-party parcel insurance provider focused on e-commerce and volume shippers, directly comparable to PIP in target customer, carrier coverage, and quote-based pricing model.
- InsureShip: InsureShip provides third-party parcel insurance with instant online binding and API integrations for e-commerce platforms, directly competing with PIP for the same volume-shipper customer base with a more digital-first motion.
- Shipsurance: Shipsurance is a direct competitor offering third-party parcel insurance to business shippers via UPS, FedEx, USPS and DHL, with similar online claims and quote-based pricing — directly comparable to PIP's core offering.
- U-PIC Insurance Services: U-PIC is a direct competitor providing low-cost third-party shipping insurance for small-parcel and freight shippers, competing head-to-head with PIP on price, multi-carrier coverage, and online claims processing.
Emerging players
- Reserve Insurance Group: Reserve Insurance provides specialized parcel and shipping insurance products to small and mid-sized shippers, overlapping with PIP's customer base but with a narrower product footprint.
- ShippingEasy: ShippingEasy is a shipping and logistics platform with carrier integrations comparable to PIP's manifest-software partners; it competes for the same SMB-shipper wallet and could expand into insurance-adjacent services.
Broad incumbents
- Berkshire Hathaway Specialty Insurance: BHSI is a Berkshire Hathaway insurance carrier that writes specialty lines including cargo and transit; PIP's website links to bbinsurance.com, suggesting potential affiliation within the Berkshire insurance ecosystem, making it a structurally relevant peer/partner.
- UPS Capital: UPS Capital is the carrier-affiliated insurance and financial services arm of UPS, offering parcel insurance, cargo coverage, and financing — the incumbent against which PIP most directly competes on convenience and integration.
- FedEx Custom Critical Insurance Services: FedEx's in-house parcel insurance and declared-value offering is the carrier-side incumbent alternative to PIP, with similar coverage scope but slower claims and broader item exclusions per PIP's positioning.
Others
- Arch Insurance Company: Arch Insurance Company is PIP's exclusive underwriting partner providing A+ rated capacity for all PIP policies — a key enabling partner rather than direct competitor, but central to PIP's product economics.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Parcel Insurance Plan social profiles
Digital presenceParcel Insurance Plan financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parcel Insurance Plan leadership team
Management profileNumber of profiles
Parcel Insurance Plan funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parcel Insurance Plan M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parcel Insurance Plan
What does Parcel Insurance Plan do?
Parcel Insurance Plan provides third-party shipping insurance that covers packages lost or damaged while in transit via UPS, FedEx, USPS, DHL, and other small parcel or freight carriers. Policies are underwritten by Arch Insurance Company (rated A+ by A.M. Best) and are sold primarily to businesses shipping over $500 in value per day or spending $1,000+ annually on declared value charges. Coverage includes international shipments with no country restrictions except Russia, and extends to items typically excluded by carriers such as electronics, cell phones, and jewelry.
Is Parcel Insurance Plan a public or private company?
Parcel Insurance Plan is a private company. It is classified as unknown and is currently operating.
When was Parcel Insurance Plan founded?
Parcel Insurance Plan was founded in 1996. It employs 11 to 50 people.
Where is Parcel Insurance Plan based?
Parcel Insurance Plan is headquartered in St Louis, United States, in the North America region.
How does Parcel Insurance Plan make money?
One revenue line is on record: third-Party Shipping Insurance Premiums.
Who are Parcel Insurance Plan's main competitors?
Direct peers on record are PackageValue Insurance, InsureShip, Shipsurance and U-PIC Insurance Services. Emerging players are Reserve Insurance Group and ShippingEasy. Broad incumbents are Berkshire Hathaway Specialty Insurance, UPS Capital and FedEx Custom Critical Insurance Services. Arch Insurance Company is listed as an others.
Does Parcel Insurance Plan have an API?
No public API is recorded for Parcel Insurance Plan.
What industry is Parcel Insurance Plan in?
Parcel Insurance Plan's product category is Commercial Shipping Insurance. Its primary akta.pro industry code is TLACAHAG, Cargo Insurance Placement & Policy Administration (All-Risk, ICC A/B/C). Its NAICS code is 5242 and its SIC code is 6331.