Insurance Claim Process

Scenario :- Seller called to know about Shiprocket Insurance Claim.

Opening:- Good Morning/Afternoon/Evening Welcome to Shiprocket. My Name is ___. How may I help you?

Assurance:- I will surely assist you regarding your concern.

Probing - Need to check the insurance partner first if it is :- 

Information for Secured process flow- BAJAJ (Marsh)”

You need to intimate for Claim –Within 72 hours from the marked LOST & DAMAGE date.

 Mandate Documents Required

1.       Shipping Label

2.       Invoice Copy (Purchase or Sales Invoice)

3.       COF (Certificate of Facts) /Courier confirmation mail

4.       Shiprocket Panel Screenshot (To confirm lost date)

5.       Seller’s Bank details (A/c No,A/c beneficiary name,IFSC code)

6.       Product images required (In case of Damage/Destroyed Shipment)

7.       CKYC details (PAN Card no.,Aadhar Card no.,Date of Birth,Date of incorporation)

8.       Product Description

Documentation TAT-

 Above mentioned documents need to be submitted to the insurer partner within 72 hours from the date of LOST or Damage date for claim registration.

Claim Settlement TAT

         1.After claim registration (With all requisite documents) ,The insurance Company takes 15-20 working days for claim validation/settlement.

       2. In case of surveyor requirement, it takes 20-30 working days & below are the details which are needed:-

              a. Consignor address and contact person details.(internal)

               b. Consignee address and contact person details(internal)

               c. Transporter address and contact person details.-(internal)

               d. FIR/Lost article report (value add)

3. The settlement amount once approved by the Insurance team /SR team then the same will be credited in the seller account directly by the Bajaj Team as a part of process & this will take 3-4 working days to get credited in the seller account.

4. SR insurance team will also update the status In SR secured TAB (ICRM ) having UTR & amount details.

Products which are not covered for insurance:-

1.       Used Product/ Second-hand Product

2.       Refurbished Product

3.       Undervalued Product-(As per Current Market Value)

4.       Overvalued Product-(As per Current Market Value)

5.       Fragile Items (Semi-finished fragile goods for industrial/commercial use -Marble, granite or other stone slabs/ Glass sheets, blocks etc/ ceramic items)

6.       Precious metals and metal scrap

7.       Cash/Documents

Note: Claim stands closed if sellers do not share the requested details/documents within timeline

“Secured process flow- “ICICI Lombard (Symbo)”

You need to intimate for Claim –Within 72 hours from the marked LOST & DAMAGE date

 Mandate Documents Required

1.       Shipment value Less than Rs.40000-

                                               a. Invoice Copy

                                               b. Product Description

2.Shipment value between Rs.(40000-100000)

                                                a. Invoice Copy

                                                b. COF (Certificate of Facts) /Courier confirmation mail

                                                c. Product Description

3. Shipment value equal or more than Rs.100000

                                                a. Invoice Copy

                                                b. COF (Certificate of Facts) /Courier confirmation mail

                                                c. Product Description

                                            d. FIR/Lost article report

·  Documentation TAT-

1.       Above mentioned documents need to be submitted to the insurer partner within 72 hours from the date of LOST or Damage date for claim registration.

Claim Settlement TAT

         1.After claim registration (With all requisite documents) ,The insurance Company takes 15-20 working days for claim validation/settlement.

        2.The insurance company transfer the claim amount into the Shiprocket account then it is being transferred to the sellers’ account by the Shiprocket and it takes 3-5 working days

         3. In case of surveyor requirement, it takes 20-30 working days & below are the details which are needed:-  

          a. Consignor address and contact person details.

          b. Consignee address and contact person details.

          c. Transporter address and contact person details

          d. Copy of Invoice and LR( Lorry receipt)

          e. Mail communication with transporter and consignee if any

          f. Claim bill

          g.  Letter of monetary claim issued on the carrier

          h. certificate of facts issued by the carrier

          i. FIR/Lost article report

4. SR insurance team will also update the status In SR secured TAB (ICRM ) having UTR & amount details.

Products which are not covered for insurance:-

1.       Used Product/ Second-hand Product

2.       Refurbished Product

3.       Undervalued Product-(As per Current Market Value)

4.       Overvalued Product-(As per Current Market Value)

5.       Fragile Items (Semi-finished fragile goods for industrial/commercial use -Marble, granite or other stone slabs/ Glass sheets, blocks etc/ ceramic items)

6.       Precious metals and metal scrap

7.       Cash/Documents

Note: Claim stands closed if sellers do not share the requested details/documents within timeline   

Important Notes: Insurance claim process with Symbo is in the initial stage and TAT might get revised.