Marine & Liability Insurance Solution
Oceanwide’s Marine Liability solution offer brokers and underwriters a centralized online database to manage insured operations, related equipment and fleets, facility details, contractor and charter contract details and other exposure details. The system provides full policy administration functionality for all Marine Liability products complemented by comprehensive premium booking, billing & invoicing, claims management and business intelligence tools.
Highlights of Marine & Liability Solution
- Supports all types of primary and excess Marine Liability insurance products
- Advanced operations, facility and equipment exposure management capabilities
- Policy lifecycle workflows customizable by Liability product.
- Re-calculation of premiums for full endorsement and renewal management when backdating.
Functionality of Marine & Liability Solution
- Maintain client exposure details including:
- Operations details such as payroll information, throughput, sales and more.
- Fleets of owned or chartered/leased vessels, automobiles, trucks, watercraft or other equipment.
- Facility and location details.
- Details of underlying insurance policies for excess liability policies.
- Policy information management (policy holder, values, limits, allowable currencies, billing information including installments, insuring conditions, related war policy rates and conditions and valuation).
- Review and reporting options for stored policy, vessel, client, premium, exposure and claims information.
- Generation and issuance of all policy documentation including quote letter, policy manuscript and endorsements.
- Policy submissions and issuances are fast tracked with customizable entry screens.
- Depletion of deposits and recalculation of installments based on changes to exposure details.
- Automatic follow-up on installment premium payment.
- Detailed analysis and reporting on insured fleet details.
Please contact us to find out how Oceanwide's insurance software provides full policy administration functionality for all Marine Liability products.