Navarik Claims™

Navarik Claims™ is a Web-based application that improves the management of demurrage, freight, expense and loss claims.  This portal-based solution is the first industry-focused offering to provide a collaborative online workspace where all relevant parties can easily come together and review a common set of information.  Companies in the petroleum industry are finding that this new approach to claims management can dramatically improve third party communication, minimize administration effort and help operational teams stay focused on the ultimate goal of quickly reaching a settlement.

In particular, demurrage claims management is an area that offers an excellent opportunity for operational improvement.  This is because laytime agreements and associated demurrage costs can create significant fiscal exposure and occupy important resources for all trading partners.  Navarik Claims minimizes these operational issues by standardizing documentation and enabling multi-status collaboration between all parties.  As a result, demurrage professionals can manage claims more efficiently, resolve claims more quickly and better protect against time bars.  For a detailed overview of Navarik Claims, please download the Navarik Claims Data Sheet.

The diagram below shows the lifecycle of a claim and identifies the various users that can benefit from the collaborative workspace offered in Navarik Claims.

FUNCTIONAL OVERVIEW

Navarik Claims™ enables you to manage the entire lifecycle of a claim as follows:

• One party initiates the process by submitting basic claim information including the, claim amount and any supporting documentation.
• Notification is immediately sent to the counterparty informing them that the claim is accessible online and available for settlement.
• The counterparty acknowledges receipt of the claim providing time bar protection.
• Parties interact and negotiate online until an agreement is reached and the claim is settled.