The digital solution for demurrage claims processing
- Digitalise and standardise your claims process
- Improve claim accuracy and reduce costly errors
- Faster cash conversion of your claims
Are you experiencing any of these demurrage pains?
Financial issues
- Millions of $ locked up on balance sheets
- Unpredictable cash payments
Industry issues
- Multiple claims versions from counterparties
- Many one-off stakeholders
- Demurrage talent shortage
Operational issues
- Highly manual, complex, tedious process
- Ambiguities leading to costly disputes
- Data entry errors
Why demurrage needs a better solution
Everybody is frustrated with the claims process. Nobody is happy.
Claims that should, by rights, be settled very quickly take, on average, 5 months to settle.
Why?
We have analysed this and realised that even if one party and the other party have great systems and great people, they do not have the same process so there’s no coordination of the process between counterparties.
There are a lot of claims solutions out there in the market today because every team needs to have at least a spreadsheet or a calculator or some other platform that helps them with their claims.
What is actually missing is the platform that coordinates claims between parties in a transparent, reliable way.
That’s ClaimsHub.
Customer views
Here’s what our customers have to say about ClaimsHub.
Comments are from a survey that guaranteed anonymity.
ClaimsHub digitalises, validates and standardises claims
What is ClaimsHub?
ClaimsHub is a sophisticated workflow platform that is managed by a dedicated team of claims experts here at Marcura.
Whilst the calculation and documentation are important, the workflow before and after the claim is submitted and contested and agreed is also important as that entire end-to-end workflow needs to be managed.
Since nobody in the industry can control each other’s workflow, there’s a logical need for a third party who can act like an enabler of a streamlined workflow, and that requires a platform and people.
So we dedicate a number of claims experts, process experts and data experts to keep the claims flow going so that it doesn’t stop at any time on anybody’s desk.
That will speed up the reporting, analysis, approval, and ultimately, the settlement of claims to benefit everybody in the supply chain.
The benefits of having a standardised and enabled process and a platform with lots of data on the process and on the claims will yield a range of benefits for the CFOs and for the users.
What are the benefits of using ClaimsHub?
We’ll take away your headaches but leave you in control.
Show me the platform
Compare view with counter claim
This view shows a comparison between Version 2 of the claim and a counter claim.
The highlighted row for 'Not to count' on the right-hand side of the comparison highlights in the document the specific details of the counter claim.
Detailed laytime view
This is a laytime table that gives the details of all laytime activities. You can add remarks and attachments in the right-hand panel. You can see that a remark has been added to Version 4 of this claim and that the remark includes an upload of the Agent SOF (Statement of Facts). You can also switch to a historical version (in the drop-down of the navigation bar).
Compare view
This screen shows the Compare View. This shows a comparison between laytime events in Version 1 and Version 2 of the claim.
The highlighted row for 'inward passage' on the left-hand side of the comparison surfaces a map view in the validation tab on the right-hand side. This map shows where the ship was when the events were recorded as having taken place.
SOF adjuster view
This is a digitised version of the SOF. This view provides the user with the ability to add time allocations and %'s to SOF items to adjust the claim.
Claim returned for review
Here is a confirmation of all the ports in the claims and any remarks added to each one. In this example, the user requests that the Master SOF is used and that SOF is attached to the remark.
4 ways ClaimsHub is different and unique
ClaimsHub is not another demurrage calculator.
Show me the ClaimsHub reporting suite
Overview example 1
Graphical representations allow the user to quickly get an overview of the status of their claims.
Toggles allow the user to switch between views of outstanding demurrage and despatch totals.
Overview example 2
Graphical representations allow the user to quickly get an overview of the status of their claims.
Toggles allow the user to switch between views of outstanding demurrage and despatch totals.
Elastic search
Elastic search provides the quickest way for a user to surface key data based on search criteria.
Queries can be concatenated to allow more granular results to be returned to the table view.
Results can be drilled down to provide further insights into the nature and composition of the claim.
Graph filter and toggle
In the overview tab, the graph filter allows the user to quickly toggle between statuses and customers.
The filters affect the results displayed in the table..
Advanced filters
A bank of advanced filters allows users to drill down into any field of the data displayed in the table.
These banks of filters can be useful for locating records where the user does not have a specific entry in mind, or where the user would like to compare a larger amount of data.
Favourites
The favourite functionality allows a user to save a search query with a chosen name and to recall that query quickly when required.
Saved queries can be both recalled as well as removed.
Remarks
To allow users to track progress on a claim we have expanded the remarks functionality to allow both customers and internal teams to add remarks to a claim.
These can be expanded and added to by selecting the remarks entry on an individual claim.
Remarks are recorded at a claim level only.
Aging days
A way of segmenting data based on trade desk and claim age.
Trade desks
This process status report allows users to track outstanding claims by trade desk and also over time. This gives our users visibility on which segmentation requires attention to increase cash flow.
Commodity
Data segmented by commodity with the ability to track by status and net outstanding.
REPORT
Navigating new financial seas
How to deploy digital solutions to maximise profit and reduce risk
Shipping companies are increasingly turning to digital solutions to optimise different aspects of a voyage and CFOs have become more involved in making decisions to support digital transformation.
The value of these solutions might be clear to one working in the operational department, but for the finance team, the benefits may be less clear-cut.
Marcura’s report showcases how digitalising different aspects of a voyage can generate substantial financial gains, helping financial leaders steer their way through the complex maritime digital solutions landscape.
Latest news
Marcura is pleased to announce the successful completion of a significant leadership handover. Jens Lorens Poulsen has moved from his position as Group CEO to assume the role of Chair of the Board. Henrik Hyldahn, previously the CEO of ShipServ, a leading maritime online procurement platform recently acquired by Marcura, has transitioned to the position of Group CEO.
In the dynamic world of commercial shipping, understanding risk is crucial for strategic decision-making, especially in relation to optimising freight pricing. The use of tools like PortLog has become essential for ship owners and operators looking to reduce the discrepancy between the estimated versus the actual P&L of a voyage.
An insightful exploration of the digital era’s challenges and opportunities, especially in light of Generation Z’s entrance into the workforce. Sigrid Teig, Director of Strategic Customer Partnerships at Marcura, offered her unique perspectives at the “Making Data Actionable” session on the opening day of Geneva Dry 2024.
Why are ClaimsHub & Marcura perfectly placed to solve the demurrage issue?
The ClaimsHub platform has its own team but is owned by, and so draws on the experience of, the Marcura Group.
To trust someone else to work on your demurrage claims, you’ll need them to have expertise in dealing with demurrage, which we have in our pre-cursor solution to ClaimsHub, called Laytime-Desk.
As it’s a platform bringing standardisation and digitalisation to demurrage, you also want to know your provider has experience here.
The current lack of standardisation in demurrage is similar to the situation 20 years ago with DAs.
Operators and agents also worked according to different standards, and there were a lot of issues in poorly matching processes.
We have solved that to a large degree with DA-Desk and, based on our experience, we have studied very carefully how we can help the industry enable a much more streamlined claims process where everybody wins.
Marcura facts and figures
800+
Customers
60-strong
Compliance team
$12bn
Payments made per year
1000+
Global team members
2001
Established
Finally, Marcura:
- has strict data security and confidentiality controls and safeguards, including ISO certifications
- is an independent company you can trust with your data.
Marcura has over 20 years of experience working with maritime data, digitalisation and automation, for our customers worldwide.