Enables companies with an agreed insurance facility to purchase insurance or record a transaction and receive the required documentation directly and immediately

A full functional solution to remove the bottlenecks associated with attaching cover

Many companies have never considered changing the way they purchase cover and generate related documentation such as packing slips and customs declaration forms. Manually completing forms, faxing, re-faxing and waiting for receipt of the cover certificate is accepted as the standard way of operating and few are aware of the cost to their organisation, until they try iCover, a web-based cover attachment solution.

How does it work?

Shipment declaration information and preferred cover clauses and exclusions are entered directly into the system through a web-based interface. Drawing on the central rating engine, the system then generates a quotation and the certificate details. The quotation can be accepted as is, or the user can choose to test additional scenarios through varying the underwriter, the clauses and/or the exclusions, to ensure that the best option is purchased. Once the final selection is made, all necessary documents can be generated and printed for enclosure with the shipment. Where required, strategic business partners can be integrated into the process to eliminate bottlenecks and gain maximum control over cover purchases. Full shipment and cover details can be captured for monitoring and analysis.

The results are dramatic:

• Online processing expedites business activity
• Online processing reduces administrative overhead
• System rules reduce human error
• Improved statistics promote better decisions
• Single system promotes standardised operation procedures
• Central processing enables an enterprise wide insurance solution
• Integration with business partners enhances control and delivery.

Who is it for?

Particularly effective for large corporations that deal with a substantial numbers of import/export transactions, for freight forwarders and for insurers.

iCover can also be easily adapted to support any other insurance context where individual risk assessment is not required and an agreed insurance facility is in place.