InsureShip
We offer the option to add insurance to your checkout cart, providing additional protection and peace of mind to your customers while simultaneously increasing your profitability during checkout
Before You Begin
If using CheckoutChamp hosted pages, it is highly recommended to enable InsureShip on each funnel. Several steps in this document are automated with that approach.
InsureShip is billed on your monthly statement at $1.00 per shipment. It is your decision how much to charge your customers. The recommended (default) price is $3.00.
InsureShip is billed for shipments. You are not billed for orders cancelled prior to shipment.
InsureShip can be automatically added to rebills. That is an option on the plugin.
Claims are filed with InsureShip. Claims are not filed with CheckoutChamp.
Step 1 - Add the Plugin
Go to Admin > Plugins > Shipping Insurance. Click the InsureShip tile and press the +Activate button.
Press Connect on the popup. This automatically registers you with InsureShip.
Step 2 - Create the InsureShip Product
Go to CRM > Products
Add a base product for InsureShip
Give the product a name of your choosing
Set Fulfillment House = System Fulfillment
Set Fulfillment Type = No Shipping
Step 3 - Enable on Campaigns
Go to CRM > Campaigns > edit the campaign on which to enable InsureShip
Go to Offers
Set Base Product = the product from Step 2
Set Gateway Account = any gateway. It is recommended to use the same gateway as other products in the campaign.
Set Billing Type = One Time
Set Base Price = the price of your choosing ($3.00 is recommended)
Set Shippable = off
Set Visible on Storefront = off
Save the product
Go to General Details
Choose Enable InsureShip
Choose the campaign product as the InsureShip product
Save
Repeat steps 1-3 as needed for other campaigns
Step 4 - Use InsureShip
Pass the campaign product ID from Step 3-3 into the Import Order API when creating a new order. Shipping insurance will be included on the order and the order sent to InsureShip.
Step 5 - File a Claim
When a customer encounters a lost, stolen, or damaged shipment, create a new shipment for the customer. Then file a claim for reimbursement with InsureShip at
https://www.insureship.com/fileclaim
Step 6 - Billing
InsureShip is billed monthly on your CheckoutChamp subscription for each shipment according to the RatePerTransaction on the InsureShip plugin.
VAMP & Revenue Impact
Reduce Chargebacks. Improve Portfolio Performance. Add New Revenue.
InsureShip doesn’t just protect packages, it protects portfolios. By turning “Item Not Received” and shipping-related disputes into legitimate, insured claims, InsureShip helps merchants and processors improve Visa’s VAMP score (Visa Acquirer Monitoring Program) while creating a compliant secondary revenue stream.
How It Works
When a customer opts into insurance at checkout, InsureShip processes a secondary transaction that is fully authorized by the Department of Insurance. This separate, licensed insurance transaction ensures that insurance fees are legally distinct from the merchant’s retail sale, eliminating co‑mingling and protecting processors and acquirers from regulatory exposure.
Before InsureShip: Delivery issues → Refunds or chargebacks → Rising VAMP ratios → Risk monitoring or reserve holds
After InsureShip: Delivery issues → Insurance claims (carrier‑paid) → No chargebacks → Better VAMP standing
Portfolio-Level Benefits
✅ 10–30 bps average VAMP improvement by deflecting INR/damage disputes into insurance claims ✅ Secondary DOI‑authorized transaction ensures total compliance and separation of funds ✅ Reduced “Where’s my order?” support volume by 25–30% ✅ Merchant retention boost: fewer MIDs terminated for ratio thresholds ✅ ISO / Processor revenue share: earn up to 20% of merchant markup profits
Illustrative Impact
Monthly Orders
Avg. Opt‑In
Added Merchant Profit
VAMP Ratio Improvement
10,000
80%
$31,600
–0.10 pp
50,000
84%
$165,900
–0.20 pp
100,000
86%
$339,700
–0.30 pp
Case Study (Checkout Champ, 30 Days): • 84% buyer opt‑in • +2.1% checkout conversion lift • $165,900 added merchant profit • VAMP ratio improved 1.05% → 0.85%
How to Enable?
To process the insurance as a separate transaction from the retail sale
Go to CRM > Campaigns > edit the campaign > Offers > edit the InsureShip product
Find and enable the Stand Alone Transaction option. Save.
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