Through the Reserve Entry page you can either enter the reserve amounts for claims, or change the reserve amount for previously calculated reserve entries.

 

To do so you need to do the following:

 

Ø  Search for the required reserve by going through the following steps:

§  The Company Name will be given by the system;

§  Select the Branch;

§  Select the Insurance Class from a list that was previously defined through the Insurance Classes page;

§  Select the Policy Type. Note that the policy types are filtered according to the insurance class selected;

§  Select Document Number from a list of predefined documents ;

§  Select the Claim Number. Note that claim numbers will be filtered according to the policy selected;

§  Select the Claimant Type;

§  Select the Damage Type;

§  Select the Claimant Name;

§  Enter the range of Reserve Dates;

§  You need to either select the Summary radio button to view a claimant reserve list summary, or select the Detailed radio button to view a detailed claimant reserve list;

§  Click  to view results.

§  Or the Claimants defined with their preliminary defined reserve will be automatically displayed within claimants List for the claim initiated at claim entry.

 

• From the Claimants List block, click on the claimant you want. Accordingly, the reserves for the selected claimant will be listed in the Claimants Reserves List block;
• If you wish to perform a transaction (Do Reinsurance, View Reinsurance or Delete Reinsurance), click on the reserve needed and then select the Transaction you want:

-        Do Reinsurance: The system will automatically perform the reinsurance;

-        View Reinsurance: Redirects you to the Claims Reinsurance page located in the Reinsurance sub-module where you can view the reinsurance details for the reserve;

-        Delete Reinsurance: Deletes the reinsurance for the selected reserve transaction.

Note that you can use this button only if the Summary radio button, located at the top of the page, was selected.

 

Note that the transactions drop-down list is enabled only if the detailed radio button, located at the top of the page, was selected.

 

 

Adding a Claimant Reserve

 

 

To add a claimant reserve, first you need to select the claimant required, click and then perform the following steps:

 

• Relevant information of the claimant will be displayed including the Claimant Type, Reference Number, Claimant Name, Last Reserve Date, Reserve Date, Reserve Amount, Reserve Amount LC, Outstanding Balance and the Exchange Rate;
• Select the Damage Type;
• Select the Damage Type Details;
• Enter the new reserve amount (in plus or minus) in the Change Reserve Amount field;
• Enter the Current Reverse Amount;
• Enter any necessary Notes;
• Check the Compromised checkbox as an indication to the Insurance Company that the Loss Amount defined was higher than the Realistic loss Value due to the Claimant Relation with the Insurance Company;
• Accordingly, the system will automatically calculate the Change Reserve Amount LC, Current Reserve Amount and Current Reserve Amount LC;
• Click to save your work;
• Note based on a preference, reserve can be only added for parent claimants.

 

 

Reserve Statement

 

To view reserve statements, you can click on any claimant and through the reserve statement Block you can see all related statements by choosing the Loss Type as below: