Oceanwide is the market leader in Marine Insurance Software with the broadest customer base, the most policies managed, the largest number of certificates issued, and the largest user community.

Oceanwide has led the industry evolution from its paper-based, labor-intensive roots to a fully-automated, efficient, collaborative marketplace. We maintain our leadership position by maintaining the largest ongoing global commitment to research and development focused on marine insurance software.

Oceanwide’s marine insurance software promotes real-time collaboration between brokers, underwriters, claim settling agents and shippers to offer significant operational efficiencies and cost reductions in the management and administration of marine cargo insurance policies.

Oceanwide currently has offices and implementation support specialists in Canada, the United Kingdom and the USA, and our multilingual help desk operates 24×7 to offer truly global support.

We manage marine insurance policies for companies in every continent and we understand the business drivers and complexities associated with different taxation regimes, coverage options, and billing methodologies that are used within the different marine insurance markets.

Genoa enables better business practices related to the Marine Cargo insurance business while providing operational efficiencies that result in cost reductions. The marine insurance software manages all aspects of the policy lifecycle, including submissions, quotes, policy form issuance, endorsements, premium, booking, invoicing, claims management and reporting.

The software captures and validates individual shipments, bulk declarations of shipments and warehouse storage declarations by location, commodity, and packing method. It accommodates complex rating by consignee, commodity, country, port/ airport, conveyance, coverage and packing method. It can also calculate and accrue premium based on the countries involved in shipments as well as the age, size and classification of the vessel, using integrated databases of vessels (including movement and casualty history), ports and airports, which are updated automatically.

Genoa marine insurance software also offers the deepest OFAC regulatory compliance control available, and has launched initiatives into advanced vessel and port aggregation exposure controls and predictive modeling, all with a single goal: to help our customers increase their market share, reduce costs and maintain complete control and management of the risks they assume.

  • Genoa’s Certificate Issuance and Declaration Management module serves tens of thousands of shippers in over 100 countries. It is widely viewed as the leading global solution with the most comprehensive functionality and broadest base of marine broker and underwriter customers. The marine insurance software ensures that all certificates are issued in accordance with policy terms and conditions, and premium is calculated automatically and accurately. Genoa also supports web services that integrate seamlessly with systems used by shippers, forwarders and banks.
  • Genoa’s Policy Administration module Customized screens and workflow enable the recording of all data elements and coverage specific risk information for Cargo Policies. Brokers can track underwriter submissions and compare quotes side by side and take advantage of powerful portfolio management and reporting tools. Underwriters benefit from a standardized quoting process enhanced through rules based automated policy rating. Working with broker portals, Genoa marine insurance software can deliver fully automated quote- bind – issue functionality for low complexity risks.
  • Genoa’s Reporting and Analysis module offers users a variety of query and reporting tools to proactively anticipate and manage exposure. Centralized data and flexible reporting tools support comprehensive analysis of historical data for assureds, policies, shipments, storage declarations and user activity. This, in turn, promotes proactive risk management, loss prevention and reinsurance initiatives. Increased data transparency strengthens client retention and acquisition strategies
  • Genoa’s comprehensive Claims Management module manages the entire process from the initial reporting of loss, through final adjustment, tracking all financial detail and building the claim file while keeping assureds, brokers and underwriters informed. Genoa marine insurance software includes correspondence, diary and document archiving modules to simplify and standardize the claims process across your organization.
  • Genoa’s Billing and Accounting module automates the premium billing and accounting process, reducing administrative costs and errors. The marine insurance software improves cash flow and provides enterprise-wide transparency for invoicing, payments and receivables.

Genoa marine insurance software is completely multi-lingual, multi-currency and multicultural. It is currently translated into French, Spanish, Portuguese, Italian, German and Mandarin. Genoa also includes global currency exchange rates for automatic calculation of premium.

As a shared, centrally hosted application, Genoa marine insurance software presents a unique opportunity to work collaboratively and in real time with assureds, brokers and underwriters.