LuitBiz For Cargo & Freight Industry

Cargo Insurance Certificate and Document Management

The Importance of Managing Cargo Insurance Certificates

A cargo insurance certificate is a document that indicates the type and amount of insurance coverage in force on a given item. It is used to assure the consignee that insurance is provided to cover loss or damage to cargo during the shipment process. It is one of the most important documents in the shipping industry as they inherently carry the most risk.

A cargo insurance certificate usually includes the following information:

  • * Shipping information
  • * Conditions of the insurance coverage
  • * Additional / special conditions of coverage
  • * Liability of carriers, bailees, or other third parties
  • * Instructions or actions to be taken in the event of lost or damaged cargo
  • * Settlement agent contact information

Why should Cargo Insurance Certificates be managed properly?

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Proper management of Cargo Insurance Certificates is necessary to understand the financial requirements of both the shipping company and the consignee and can help detect errors made on documents and help companies rectify them during shipment transactions.

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Depending on the provisions of the agreement, errors in Cargo Insurance Certificates can lead to huge penalties & fines. These can be avoided and in turn result in smoother business transactions by managing the Cargo Insurance Certificates efficiently.

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Efficient Cargo Insurance Certificates management help companies monitor their own insurance requirements and the extent to which each company can engage in transactions and scrutiny of potential business partners & clients’ insurance requirements help to plan for future transactions.

The benefits of LuitBiz DMS in managing Cargo Insurance Certificates

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Going Paperless: Managing several hundreds or even thousands of cargo insurance certificates and other documentation in filling cabinets and drawers can be overwhelming. This can have a negative effect on productivity as filing cabinets take up valuable space and can result in unnecessary clutter. This leads to decreased employee productivity & reduced efficiency as retrieval of files becomes increasingly difficult. By adopting a paperless approach with LuitBiz DMS, cargo & freight companies can eliminate the manual handling of insurance certificates and other documents and reduce costs, overheads, risks and delays.

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Access from Any where, Any time, Any device: Cargo Insurance Certificates are the most important documents for a cargo & freight company. These need to be accessed at the right time by the right person to avoid bottlenecks in the shipping process. LuitBiz DMS is completely responsive and fits all device sizes. It can be accessed from anywhere, anytime using any device connected to the Internet without downloading any mobile apps or web clients. This helps the right users have access to the right documents to make the right decision, avoid fines & penalties and ensure compliance.

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File Cargo Insurance Certificates in a Centralized Database: With LuitBiz DMS, Cargo Insurance Certificates and corresponding insurance data are stored on a secure, Cloud-based environment. Files stored in LuitBiz DMS can be easily accessed by users with appropriate access permissions anywhere, anytime using any device connected to the internet. Insurance certificates and their related documents can be accessed by consignees or business partners on the go ensuring that business processes are not held up while the Cargo Insurance Certificate stakeholders are on the move.

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Data Security and Privacy: Insurance certificates and other associated documents are kept safe and secure, ensuring that data is only available to those with authorized access. Group leaders in LuitBiz DMS can set specific rules to limit user access on a need-to-know basis. Files are also kept away from hackers with LuitBiz DMS's heavy stringent access control policies, SSL certificates and a number of other physical barriers and intrusion protection systems. Since cargo & freight companies share Cargo Insurance Certificates with business partners and personal email addresses, document security is of utmost importance.

These are just a few of the ways LuitBiz DMS can benefit the cargo & freight industry in managing cargo insurance certificates. If you would like to know more about how LuitBiz DMS can be a boon to your organization, please feel free to try out a free 15 day trial version of LuitBiz DMS by clicking on the link "Start My Free Trial" below.

LuitBiz Effortlessly manages all business information in the Cargo & Freight industry

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