Policybazaar for Business, the corporate arm of one of India’s largest insurance marketplaces, has launched Enroute, a platform that aims to simplify marine and transit insurance operations. Issuance of certifications and declarations, which used to be a time-consuming process, can now be done in a few clicks. The platform enables businesses to efficiently manage their domestic and international trade requirements.
Domestic companies and businesses should file a declaration every month while domestic policies must be given the transit-specific insurance certificates of annual marine and transit insurance for shipments going in for imports and exports. The process often became laborious for the customer as all such formalities have to be completed manually. PBFB provides ease of platform in order to lessen the workload related to administrative duties, ensure better accuracy, and compliance without creating any issues.
Customers of marine and transit insurance have been largely operated on segmented platforms with cumbersome declaration modes, thereby often making operations complicated. This new platform aims at ensuring customers reap all benefits the whole process brings forth to a simplified stream for their smooth running. Through the portal, customers experience smooth, hassle-free transactions because they access all relevant, simple and easy-to-read information about their existing policy.”. Businesses can now declare transits, generate insurance certificates and increase the sum insured seamlessly,” says Sajja Praveen Chowdary, Head, Policybazaar for Business.
How it works – The platform streamlines the generation of insurance certificates for shipments from customer provided information so that customers can easily declare their monthly shipments or generate a certificate via WhatsApp or the portal. This can be easily done in three ways: through invoice or LR copy upload or uploading a file and using the interactive interface to ensure a seamless and user-friendly experience.
The platform streamlines monthly declarations for goods in transit to continue maintaining compliance. The OCR reads and extracts every detail from the invoice or the LR copy whenever the customer is uploading it, saving them enormous time and hassle since they are no longer needed to manually put in each detail.
The platform is built to adapt with the needs of consumers and hence, continues to improve its usability and functionality. The software integrates well with your existing invoice generation or supply chain management systems. This automatically removes the manual declaration and certificate generation processes, enhancing efficiency, reducing errors, and ensuring a smooth workflow with a new benchmark for marine insurance operations.
