Diamond Dealers Club of Ny, TransGuardian, USPS and Wells Fargo Announce Initiative at JCK Show Las Vegas
New York, NY, June 13, 2011 --(PR.com)-- The Diamond Dealers Club of NY (DDC) and TransGuardian hosted USPS Chief Postal Inspector Guy J. Cottrell and Wells Fargo Insurance Services Vice President Scott Fuhrman at the 2011 JCK Las Vegas Jewelry Show.
At an industry press conference, they unveiled the first step in a cooperative plan to streamline commerce and increase opportunity in the gem and jewelry industry.
Moshe Mosbacher, President of the DDC, said that Phase One of the initiative includes three goals: (1) streamlining logistics, (2) securing transactions, and (3) increasing sales.
“The first or second largest cost for businesses in our industry is insured shipping,” said Mr. Mosbacher. “To reduce that cost – and add new options – we’ve turned to TransGuardian.”
“As a Business Alliance Partner with the US Postal Service and working with Wells Fargo Insurance Services, we’re bringing those costs down by 30 to 80 per cent,” said Jim Moseley, President of TransGuardian. “We’re flattening the earth. That means vastly improved profitability and trade for diamond and jewelry businesses, which can play a decisive role in our economic recovery.”
“And it’s not just about price,” said Madlene Moseley, TransGuardian’s Executive Vice President. “It’s about choice. Our proprietary online software offers over 70 ways to ship, producing multi-carrier quotes online, before you buy, so you can always choose the best way–whether that’s cheaper, faster, or specialized.”
TransGuardian develops game-changing shipping software that gives its clients a competitive edge. It offers insurance up to $150,000 per parcel through Wells Fargo Insurance Services, as well as discounted rates for USPS Express and Priority Mail, FedEx, UPS, OnTrac and other carriers.
“We approached TransGuardian in 2009,” said Mr. Fuhrman of Wells Fargo, “because we heard about their unique risk-management capabilities. We were blown away by what TransGuardian’s software does. I’ve underwritten insurance in this industry for about fifteen years – including for two major diamond forwarders – and there’s no comparison. TransGuardian’s software is light years ahead. After working two years with TransGuardian, their outstanding track record speaks for itself. We’re pleased partner with them in becoming the diamond and jewelry industry’s premier provider.”
Wells Fargo Insurance Services USA, Inc., headquartered in Chicago, is the fifth largest insurance brokerage firm in the world, according to Business Insurance magazine, and the largest bank-affiliated insurance brokerage firm in the United States. They have 200 offices across the nation with more than 5,800 professionals who place more than $15.5 billion in risk premiums.
Chief Inspector Cottrell said, “We’re here to emphasize that the US Postal Service has unique benefits to offer this industry. An important asset is that when we see a threat to your high-value parcels, we don’t have to call a law enforcement agency – we are a law enforcement agency. It’s a federal crime to tamper with US Mail, and we’re committed to protecting your high-value packages in the mailstream.”
As the USA’s oldest federal law enforcement agency, founded by Benjamin Franklin, the US Postal Inspection Service has a long history of fighting criminals who attack the nation's postal system and misuse it to defraud, endanger, or otherwise threaten the American public.
“The US Postal Service carries fifty percent of the world’s mail at the world’s lowest costs,” added Pete Zegarac, US Postal Inspector in Charge of Arizona, Nevada, and Utah. “That’s over 680 million mail pieces each day.”
“With USPS tracking and performance improving by leaps and bounds, and with no surcharges for fuel, Saturday delivery, residential and rural deliveries, or return mail, we’re a strong new option for business shippers,” said Tim Hamblin, USPS Business Alliance Manager. “Whether you’re shipping two ounces – like a diamond parcel - or seventy pounds – like silver - the USPS is your most economical solution. If it fits, it ships!”
Lou Rohde, Director of DDC Member Services, said, “We’re opening an Insured Shipping Center managed by TransGuardian in the Diamond Dealers Club NY premises in June. That means Members can prepare parcels in the security and comfort of the Diamond Club – with concierge computers, a full range of free USPS, FedEx, and UPS packaging supplies and labels, and no waiting in line.”
“As for securing transactions and opening markets,” said Mr. Mosbacher, “the DDC has developed a system of Bonded Web Trading among its Members. We’ve created two classes of Members - Premier Members, who access our NY premises, and Bonded Web Trading Members, who are often based outside New York. All Members can upload their entire inventories to the DDC Bonded Trading Website. Member-Buyers can seek the stones they require among the vast number of goods this represents. The DDC facilitates each sale by confirming that the diamonds sourced match the criteria needed by the prospective Member-Buyer.”
“Our partnership with TransGuardian adds value to this process,” said Mr. Rohde. “Through them we manage insured sendings. Using TransGuardian’s memo return application, ‘Boomerang,’ we control secured returns. And through a proprietary system the DDC and TransGuardian have developed together, we can protect our Member-Sellers from bankruptcy, insolvency, and non-payment on the part of Buyers. We’re making it safe for Member-Sellers to deal in confidence with more Buyers, which is how we’re increasing sales in spite of the current economic headwinds.”
James Orloff, President of the California Jewelers Association, asked, “Does this mean you are competing with our Retail Members?”
“Not at all,” said Mr. Rohde. “In fact, we’re supporting them. First, we never sell to consumers. Second, a retailer currently might have a handful of New York suppliers. With the DDC system, he or she gets access to our 1,800 Members – on reliable transaction terms for both parties. We’re powerfully enhancing the retailer’s ability to fulfill his or her clients’ needs.”
“My vision,” said Mr. Mosbacher, “is for our industry’s associations to work together to bring new growth and inspiration to our market. I recently met with the London Diamond Bourse, and their enthusiasm for our programs shows me that this is not a DDC plan alone; it’s a way for the DDC, the IDCA, and others to cooperate so that one plus one equal four and two plus two equal eight.”
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At an industry press conference, they unveiled the first step in a cooperative plan to streamline commerce and increase opportunity in the gem and jewelry industry.
Moshe Mosbacher, President of the DDC, said that Phase One of the initiative includes three goals: (1) streamlining logistics, (2) securing transactions, and (3) increasing sales.
“The first or second largest cost for businesses in our industry is insured shipping,” said Mr. Mosbacher. “To reduce that cost – and add new options – we’ve turned to TransGuardian.”
“As a Business Alliance Partner with the US Postal Service and working with Wells Fargo Insurance Services, we’re bringing those costs down by 30 to 80 per cent,” said Jim Moseley, President of TransGuardian. “We’re flattening the earth. That means vastly improved profitability and trade for diamond and jewelry businesses, which can play a decisive role in our economic recovery.”
“And it’s not just about price,” said Madlene Moseley, TransGuardian’s Executive Vice President. “It’s about choice. Our proprietary online software offers over 70 ways to ship, producing multi-carrier quotes online, before you buy, so you can always choose the best way–whether that’s cheaper, faster, or specialized.”
TransGuardian develops game-changing shipping software that gives its clients a competitive edge. It offers insurance up to $150,000 per parcel through Wells Fargo Insurance Services, as well as discounted rates for USPS Express and Priority Mail, FedEx, UPS, OnTrac and other carriers.
“We approached TransGuardian in 2009,” said Mr. Fuhrman of Wells Fargo, “because we heard about their unique risk-management capabilities. We were blown away by what TransGuardian’s software does. I’ve underwritten insurance in this industry for about fifteen years – including for two major diamond forwarders – and there’s no comparison. TransGuardian’s software is light years ahead. After working two years with TransGuardian, their outstanding track record speaks for itself. We’re pleased partner with them in becoming the diamond and jewelry industry’s premier provider.”
Wells Fargo Insurance Services USA, Inc., headquartered in Chicago, is the fifth largest insurance brokerage firm in the world, according to Business Insurance magazine, and the largest bank-affiliated insurance brokerage firm in the United States. They have 200 offices across the nation with more than 5,800 professionals who place more than $15.5 billion in risk premiums.
Chief Inspector Cottrell said, “We’re here to emphasize that the US Postal Service has unique benefits to offer this industry. An important asset is that when we see a threat to your high-value parcels, we don’t have to call a law enforcement agency – we are a law enforcement agency. It’s a federal crime to tamper with US Mail, and we’re committed to protecting your high-value packages in the mailstream.”
As the USA’s oldest federal law enforcement agency, founded by Benjamin Franklin, the US Postal Inspection Service has a long history of fighting criminals who attack the nation's postal system and misuse it to defraud, endanger, or otherwise threaten the American public.
“The US Postal Service carries fifty percent of the world’s mail at the world’s lowest costs,” added Pete Zegarac, US Postal Inspector in Charge of Arizona, Nevada, and Utah. “That’s over 680 million mail pieces each day.”
“With USPS tracking and performance improving by leaps and bounds, and with no surcharges for fuel, Saturday delivery, residential and rural deliveries, or return mail, we’re a strong new option for business shippers,” said Tim Hamblin, USPS Business Alliance Manager. “Whether you’re shipping two ounces – like a diamond parcel - or seventy pounds – like silver - the USPS is your most economical solution. If it fits, it ships!”
Lou Rohde, Director of DDC Member Services, said, “We’re opening an Insured Shipping Center managed by TransGuardian in the Diamond Dealers Club NY premises in June. That means Members can prepare parcels in the security and comfort of the Diamond Club – with concierge computers, a full range of free USPS, FedEx, and UPS packaging supplies and labels, and no waiting in line.”
“As for securing transactions and opening markets,” said Mr. Mosbacher, “the DDC has developed a system of Bonded Web Trading among its Members. We’ve created two classes of Members - Premier Members, who access our NY premises, and Bonded Web Trading Members, who are often based outside New York. All Members can upload their entire inventories to the DDC Bonded Trading Website. Member-Buyers can seek the stones they require among the vast number of goods this represents. The DDC facilitates each sale by confirming that the diamonds sourced match the criteria needed by the prospective Member-Buyer.”
“Our partnership with TransGuardian adds value to this process,” said Mr. Rohde. “Through them we manage insured sendings. Using TransGuardian’s memo return application, ‘Boomerang,’ we control secured returns. And through a proprietary system the DDC and TransGuardian have developed together, we can protect our Member-Sellers from bankruptcy, insolvency, and non-payment on the part of Buyers. We’re making it safe for Member-Sellers to deal in confidence with more Buyers, which is how we’re increasing sales in spite of the current economic headwinds.”
James Orloff, President of the California Jewelers Association, asked, “Does this mean you are competing with our Retail Members?”
“Not at all,” said Mr. Rohde. “In fact, we’re supporting them. First, we never sell to consumers. Second, a retailer currently might have a handful of New York suppliers. With the DDC system, he or she gets access to our 1,800 Members – on reliable transaction terms for both parties. We’re powerfully enhancing the retailer’s ability to fulfill his or her clients’ needs.”
“My vision,” said Mr. Mosbacher, “is for our industry’s associations to work together to bring new growth and inspiration to our market. I recently met with the London Diamond Bourse, and their enthusiasm for our programs shows me that this is not a DDC plan alone; it’s a way for the DDC, the IDCA, and others to cooperate so that one plus one equal four and two plus two equal eight.”
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Contact
TransGuardian, Inc.
Madlene Moseley
(877) 570-SHIP (7447)
www.transguardian.com
Madlene Moseley
(877) 570-SHIP (7447)
www.transguardian.com
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