Convergint Technologies Ensures Safe Shipping with EchoInsure+
Security solutions firm Convergint found peace of mind with Echo Global Logistics’ supplemental cargo insurance offering EchoInsure+. Through an expedited claims process with faster resolution, Echo made shipping Convergint’s high-value freight stress-free.
Convergint Technologies, a banking security technology organization, ships a great deal of high-value commodities to top-tier banking companies around the country. From ATMs, safes, conduits, and an array of security instruments, keeping these important commodities in prime condition is essential to Convergint’s business.
The Challenge
As a high-value shipper which operates largely in the LTL space, Convergint keeps a close eye on key performance indicators such as cost per commodity, on-time-in-full delivery performance per carrier, and claims ratios.
For one such high-value shipment, Convergint needed to move a large quantity of ATMs. These banking machines needed to be secured properly in order to maintain proper functioning upon arrival. To prepare for this, the devices had been equipped with wheels to move more smoothly between trailers and docks in the loading process.
Despite explicit instructions from Echo, the ATMs were accidentally loaded onto faulty pallets by the carrier. As a result, the products could not be secured as required during transit. Upon arrival, the pallets had broken, leaving the high-tech devices damaged and in need of significant repair.
“It was almost a total loss,” said Raj Dharamsi, supply chain manager at Convergint. “The damage was significant, and we were worried our products would not be able to be salvaged.”
The Solution
In 2023, Echo Global Logistics, a leading third-party logistics provider of technology-enabled transportation and supply chain management services, introduced EchoInsure+, a means to add an extra layer of protection to LTL shipments. This shipping solution offers best-in-class coverage as a simple addition to loads booked through Echo and includes claims paid in as fast as 10 days, zero deductible up to $10,000, broader protection with fewer exclusions, and full-value coverage rather than limited carrier liability.
Fortunately, Convergint had included EchoInsure+ on its damaged ATM shipment. Convergint’s client was able to receive reimbursement for 75% of the value of the product, and the parts from the machines were able to be salvaged. The turnaround for filing and resolving the claim was swift, and the time lost and the damage dealt was resolved much more easily than if the shipment had not been insured.
With EchoInsure+, the shipping and claims process is significantly easier, and in the event of lost or damaged goods, the client payout much more accurately retains the value of the product. Now, Convergint ships nearly every load with EchoInsure+, providing peace of mind when transporting their business’s valuable products.
“We were thankful that we had included EchoInsure+ on this particular shipment,” Dharamsi said. “It quickly allowed us to turn a major roadblock into a readily available solution. We’re able to continue to ship our high-value products worry-free with Echo’s help, and we’re grateful for the support of their innovative services and dedicated team.”