Acturis Cargo E-Trade
Acturis Cargo E-Trade is a fully auto-rated placement route for simple risks
The end-to-end, quote and bind cargo electronic trading solution adds to the growing portfolio of NMU products already available on Acturis platform, demonstrating our desire to embrace innovation by offering our broker partners simple, effective and process efficient ways of doing business with us.
The reality is however that 80% of Cargo risks already on the Acturis platform are on the wrong Product Target of Marine/Air Cargo to enable E-Trade. The process to convert the risk to the correct ‘Cargo’ Product Target with NMU Cargo E-trade is thankfully very simple.
NMU Cargo E-trade key features
- Simple and easy to use
- Quote and bind with minutes and available to trade 24/7/365
- Caters for new business, renewals and MTAs
- Identification and application of agreed broker specific wordings
- Identification and application of agreed broker specific commission levels
- Allows broker flexibility on commission, if required
- Elimination of accounts queries
- Provision of full audit trail
Acturis Cargo FAQs
How do I successfully submit Cargo E-Trade risks to NMU on the Acturis platform?
New business risk to NMU
Use the ‘Cargo’ Product Target only. Do not use ‘Marine/Air Cargo’ Product Target.
Scenario A – manually traded but on the wrong Product Target
If the risk is currently manually traded on Acturis using the ‘Marine/Air Cargo’ Product Target, use the Remarket Policy function and change to the ‘Cargo’ Product Target, save and select NMU and E-Trade on the Product Selection, then submit the risk.
Scenario B – Manually traded but already on the correct ‘Cargo’ Product Target
For renewal risks which are manually traded but already on the ‘Cargo’ Product Target, save and use the Remarket Policy function and select NMU and E-Trade, then submit the risk.
How do I change the commission level following premium override by Underwriter
If any changes to the commission level are required after the premium has been overridden by an Underwriter, you will need to remove the Premium Override in order to amend the commission rate using the NMU Commission authorisation code.
This can be done in the Rating Amounts screen, by reducing the Premium Override back to zero and then applying a Commission rate change, before altering the authorisation code to NMU Commission and resubmitting. You will then need to resubmit to Underwriter to have the premium override reapplied.
Can I obtain cover for Freight Liabilities?
No. The NMU Cargo E-Trade product is designed solely for first party cover for cargo goods owners not third-party logistics providers such as haulage contractors, freight forwarders or warehouse keepers.
If you require terms for Freight Liability Insurance, please submit an enquiry via the NMU Freight & Hauliers Liability U-trade product.