Asset Insurance – An overview  

Introduction

An organization is exposed to risks like natural calamities, accidents, etc. and their value runs into huge amounts.  Hence it is common practice in the business organizations to insure the fixed assets of the company.  Asset Insurance component facilitates this process. 

Feature Highlights

• Integration with Asset Capitalization component to ensure that all insurable assets are covered under at least one insurance policy.

• Arriving at insurable values of assets through soft revaluation by multiple methods of revaluation or simply on the basis of WDV of the asset.

• Maintenance of insurance policy details such as policy type, premium amounts, effective date, and renewals at asset tag level.

• Integration with Account Receivables component for claim settlement purposes.

• Integration with Asset Disposal component for raising claims for written off assets.

• Support for tracking claims raised and the settlement against the same.

List of Activities