Courier insurance

blr_p said:
A matter of time for a $5tr economy :)
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You really think so? In India majority of ppl no matter how rich they are don't like to pay unless absolutely necessary. India's health/life insurance coverage is far below global avg despite having many ppl who can clearly afford it & here we are talking about used products insurance through courier which is already a negligible minority.
 
guest_999 said:
You really think so? In India majority of ppl no matter how rich they are don't like to pay unless absolutely necessary. India's health/life insurance coverage is far below global avg despite having many ppl who can clearly afford it & here we are talking about used products insurance through courier which is already a negligible minority.
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You are referring to health insurance but there is one stat I like to quote.

Over 20 years back there was $1 bn fraud committed annually in the credit card industry.

Know what share legit transactions made? $99bn

So the fraud is negligible and the upside huge.

I really don't think insuring used goods for delivery is that difficult a problem to solve. Yeah, you might get away once. But to be profitable you need to do it many times. At which point their AI will catch it.

How much more business will be attracted if there was peace of mind when sending your parcel anywhere in the country especially when insured amounts are tiny and don't even cover the full amount?

Isn't there a huge second hand market in this country. Not everyone can afford brand new.
 
blr_p said:
Over 20 years back there was $1 bn fraud committed annually in the credit card industry.

Know what share legit transactions made? $99bn
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Those figures are for US whose credit card mkt is huge compared to India.

blr_p said:
I really don't think insuring used goods for delivery is that difficult a problem to solve. Yeah, you might get away once. But to be profitable you need to do it many times. At which point their AI will catch it.
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Amazon/fk still not able to block abusing users so instead they started penalising everyone by having more & more restrictions related to replacement/return/refund.

blr_p said:
Isn't there a huge second hand market in this country. Not everyone can afford brand new.
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And majority of that second hand mkt runs on cash & going to get more popular too especially with the rising online scams on olx etc.
 
rockstah said:
Imagine someone shipping a gpu that was bought for lakhs and now it's going in thousands in the used market. If one were to claim insurance for it based on the depreciation from invoice value then it'd be a disaster for the insurer.
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They would need expertise in this field. It would not take long to figure out what goods are most commonly sent and for which insurance is taken
 
blr_p said:
They would need expertise in this field. It would not take long to figure out what goods are most commonly sent and for which insurance is taken
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All of those are added costs, almost no one would want to invest for a market like this. None of this is needed if there's fool proof system for handling packages inside and outside their offices in every stop.
 
rockstah said:
All of those are added costs, almost no one would want to invest for a market like this.
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Bearing the cost is up to who uses the service. Maybe people don't want to pay for it. This is then a chicken egg problem
rockstah said:
None of this is needed if there's fool proof system for handling packages inside and outside their offices in every stop.
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That would be very difficult given the number of stops. You are asking for perfection in an imperfect world. Hence insurance
 
Nalin said:
In my honest opinion one should prefer India Post Registered Delivery for remote areas rather than private options. These post office guys sometime refuse to accept electronics that is their only downside.
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You have a point. I was at the FPO sometime in 2016 enquiring about custom duty and just generally chatting and the assistant postmaster showed me over five parcels with iphones that had been ordered from abroad. That was the done thing back then.

I don't know at what point or which year after they refused to accept electronics.
 
blr_p said:
You have a point. I was at the FPO sometime in 2016 enquiring about custom duty and just generally chatting and the assistant postmaster showed me over five parcels with iphones that had been ordered from abroad. That was the done thing back then.

I don't know at what point or which year after they refused to accept electronics.
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Its not a policy but the counter generally asks for content and if you say electronics, they avoid accepting them.
 
Yes, but the post was used to send the phone from abroad. You had to either collect it from the FPO after settling dues or when the postman arrived. In any case you would have some earlier intimation.

Now at some point all this stopped. But it was standard in the time frame I mentioned
 
blr_p said:
You have a point. I was at the FPO sometime in 2016 enquiring about custom duty and just generally chatting and the assistant postmaster showed me over five parcels with iphones that had been ordered from abroad. That was the done thing back then.

I don't know at what point or which year after they refused to accept electronics.
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I once imported a phone from AliExpress back in 2017-18 iirc. Process was very smooth and it was delivered by local postman. I even called him on his personal phone to check if the package was with him or not. No custom duty was paid whatsoever as the seller marked it as a gift with declared value of $20.
 
blr_p said:
Yes, but the post was used to send the phone from abroad. You had to either collect it from the FPO after settling dues or when the postman arrived. In any case you would have some earlier intimation.

Now at some point all this stopped. But it was standard in the time frame I mentioned
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it also depends on Post Master & Booking Clark too. Post office still (may be 90% branch, as exception are always there) working same as other Govt. Offices. Where rule book is for public and not for employees.
 
Nalin said:
I once imported a phone from AliExpress back in 2017-18 iirc. Process was very smooth and it was delivered by local postman. I even called him on his personal phone to check if the package was with him or not. No custom duty was paid whatsoever as the seller marked it as a gift with declared value of $20.
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Bingo. There you go and this practice was at least ten years old by then. People were importing phones via the post left, right and centre.

So if it can come from abroad and arrive safely. Then should not be a problem to send domestically. Yes?

Not any more :bored:

Or rather coming from abroad means a custom duty to be earned. That was the protection. But none to be had domestically.
 
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blr_p said:
Bingo. There you go and this practice was at least ten years old by then. People were importing phones via the post left, right and centre.
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Not only phones, people were importing TVs too. I bought one from eBay.in in 2012 (a Made in Malaysia SONY LED TV), those days were something else only.
 
guest_999 said:
Working system exploiting customs duty loopholes which were closed so no more sending a $200 priced phone in domestic mkt as $20 from abroad with no/negligible customs duty.
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OK but what connection with no more sending electronics?

Why is the post refusing to send electronics now
 
guest_999 said:
Probably because of high chances of damage/theft for which they don't want to take responsibility/brand image loss.
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Yes this is a logical answer but it didn't apply earlier when higher value items were being shipped.

Maybe there are more organised gangs these days
 
blr_p said:
Yes this is a logical answer but it didn't apply earlier when higher value items were being shipped.

Maybe there are more organised gangs these days
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Same reason why there are more online scams/fraud nowadays, volume of online txns as well as jobless computer literates have gone up.
 
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