BeazleyCargo to help remove manual process and protect from E&O claims
Beazley’s UK marine team will today launch BeazleyCargo, a new online certificate issuing system.
It removes the manual process involved whereby individual certificates must be presented as proof of insurance for individual cargo shipments.
The tool also enables the user to copy previous certificates, instantly amend errors and view drafts of certificates, thereby reducing the need to re-key information.
In addition to this, the tool verifies all certificates issued and declarations made to make sure they fall within the terms of the insurance policy – something that Beazley says did not always happen in the past, leaving a client without cover.
If they don’t, they are unable to proceed with issuing a certificate and an e-mail is automatically forwarded to the underwriter.
This also serves to protect any potential broker error or omission scenario.
Currently, certificate issuance is a manual process performed either by the underwriter, as an added service, or the client.
Stephen Smyth, UK cargo underwriter, said: "BeazleyCargo uses technology to streamline and modernise a traditionally labour intensive and costly manual process, thereby providing a better service to Beazley clients. Our investment in BeazleyCargo reflects Beazley’s long term commitment to the UK marine market and our growing reputation as an innovative and competitive risk carrier.”
