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Eagle Insurance Company introduced a new concept in marine insurance in Sri Lanka by launching E-Marine on-line marine cargo insurance to its customers.

"We are offering our customers the facility of an interactive and efficient insurance web site in Sri Lanka, a spokesman for Eagle Insurance said.

This facility is primarily for customers committed to operate through Open Covers. The Open Cover document itself would be set up on the web site giving the Eagle customers easy access via a secret password similar to a Personal Identification Number (PIN). The Open Cover Document could be viewed by the customer or the customer's bank at any given time, depending on the need, he said.

The User- Friendly site provides the customer to key-in certain relevant shipment details and download a schedule which, when attached to a pre-signed Certificate of Marine provided by Eagle, would result in a complete Marine Insurance Certificate ready to be dispatched along with export documents.

It can also be used for customers clearance of import cargo or as co-lateral to establish Documentary Credits. The Eagle spokesman said that 'this would eliminate the need for customers to depend on delivery or arrange for collection of collection of Marine Insurance Documents from time to time, and the customer could obtain Insurance Certificate at the places of his own choice.

In short, there is no need for telephone calls or faxes. It is a paperless operation and more importantly, it all happens at electronic speed," he said.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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