About Shipping Insurance

What is shipping insurance?

Insurance that provides compensation to the Insured in case of damage or loss of goods, either partially or completely, during the shipment process.

How does typical credit insurance work?

The product will give the compensation as per invoice value (item price + shipping cost) with agreed maximum limit. The protection period is based on the duration from the items received by an expedition to the locations of the receivers.

What are the typical use cases for credit insurance integration?

Various items sold in the merchant/partner's platform will be bundled by shipping insurance. Please note, there are several types of items that can not be insured, for example, Jewelry, Gold, Fresh Food, and any items that are excluded in full wording.

What kind of approach suits the business situation?

• Insurance Declaration:

  • API
    We provide an API that can be used to declare the insurance application. If your system is time-sensitive, has high volume transactions, and has resources for development, we recommend you to use our API.
  • Batch
    If you have less or no resources for development, we can provide a batch service so you only need to send the data using Excel (xlsx) file with a specific format and Cermati will help to declare the insurance application based on the data given.

• Claim:
  For the claim, you can submit the claim data using Excel (xlsx) file with a specific format and Cermati will help to process the claim to the insurer based on the data given.

Application Processes

• How to create an application?
  The application can be created by calling Shipping Insurance Create Application API.

• How to know the current application state?
  Use Shipping Insurance Enquire Detail API to fetch the current application state.

• How to get the premium amount from a transaction?
  Use Shipping Insurance Calculate Premium API to get the premium amount by providing the information needed relating to the application.

• What to do when the insurance is issued?
  Cermati will send the cover note to the customer directly or to the partner via email. The partner is also able to receive a notification from the application status by subscribing to the notification and listening to the ISSUED status.

• How to cancel an application?
  The application can be canceled by calling Shipping Insurance Cancel Application API.

• How to amend application data?
  To amend the application data, the client should cancel the application using Shipping Insurance Cancel Application API and then create another application with updated data using Shipping Insurance Create Application API.

• How to process multiple applications at once using batch endpoints?
  Use Bulk Create Operation API to process multiple applications creation.

• How to get notification from application status?
  The client should prepare an API endpoint that will be used for callback API. The endpoint should comply with the specification in the Application Notification. When the endpoint is ready, the client should register the API endpoint by calling Subscribe to Applications Notification API.

• What to do when there are issues in creating an application?
  [Cermati Contact Info Here]

Claim Processes

• How to create a claim?
  The partner needs to submit the claim data to Cermati via Email. When the data is submitted, Cermati will process the claim to the insurer.

• What to do when there are issues in creating a claim?
  [Cermati Contact Info Here]

• What to expect when the claim process is completed?
  When the claim process is completed, the customer will receive an email notification.