To record a claim payment, click  and then go through the following:

 

§  Select the Claim Number;

§  The Policy Number, Branch, Insurance Class, Policy Type and Business Type will be automatically displayed by the system;

§  Select the Claimant Name from a list of claimants filtered according to the claim number selected. Claimants can be defined through the Claimants page;

§  Accordingly, the Claimant Type and Customer Balance will be retrieved based on the claimant name selected;

§  Select the Damage Type from a list filtered according to the claimant name selected;

§  The Interest Name  will be automatically displayed by system;

§  The Cause of Loss will be automatically retrieved by the system based on the cause of loss of the claim number selected;

§  The OS premium ,Exchange Rate and currency are automatically retrieved by the system;

§  The Payment Date/ No is automatically set by the system from the entry date of the payment;

§  Select the Settlement Type of the payment (Partial or Complete);

§  Select the Payment Method; (according to the payment method selected, different information will be needed);

§  Select the Payment Classification from a list of payment classifications that were defined through the Claim Payments page;

§  The Outstanding Amount and O/S Amount in Local Currency will be retrieved by the system based on the reserve calculated for the claimant selected;

§  Select the Payment Type (Reserve, Repair Order No. &Purchase Order)

§  Select Repair Order No. Note that this field will be enabled when the payment Type is selected as repair order;

§   Select Purchase Order No. Note that this field will be enabled when the payment Type is selected as purchase order;

§  Select the Account Type ;

§  Select the party Accounted To the financial transactions of this payment. Note that if the claimant name selected was a predefined customer then the system will automatically retrieve the customer’s account and display it in this field;

§  Enter the Payment Amount. Note that the payment amount must be less than or equal the outstanding amount, Enter the Payment Amount. Note that the payment amount must be less than or equal the outstanding amount, as if the Settlement Type is selected as complete and Payment Type is selected as Reserve then the payment amount will be equal to the outstanding amount of the selected claimant and so can be changed by the user, and if Payment Type is selected as Repair order then the payment amount will be equal to the repair order amount, and if Payment Type is selected as purchase order then the payment amount will be equal to the purchase order amount ;

§  Accordingly, the Payment Amount in Local Currency, Fee Amount, Fee Amount in Local Currency, Net Amount and Net Amount in Local Currency of the system are automatically calculated by the system;

§  The Ex-gratia checkbox appears only if the claim selected does not have a previous payment entered. Otherwise, the checkbox disappears. Upon entering the previous information, the system checks if the policy covers match the cause of loss. If there is no match, then an alert popup will appear; where you can either reject the payment or select to continue. Accordingly, check-in the Ex-gratia checkbox to continue with the payment as an exception;

§  Enter the Expected Cheque Date; (this date should not be less than the Payment Date)

§  Enter in any necessary Description concerning the payment;

§  Click  to save your work. Upon saving the system will list the fees details and Covers List at the bottom of the page.