Payments

On the claims payment screen users have the capability to add Payments to the claim. There are several types of claim Payment available, including:

Make payment. If using this option a bank account must be selected from which the claim payment will be made.

Record payment - Which is a recording of a payment that has been made outside of the system for instance by an insurer on behalf of an MGA

Recovery - a bank account must be selected for this option and records monies recovered

Record salvage - Which is a recovery made outside of the system. For instance, by an insurer on behalf of an MGA.

There are workflow stages to the making of claim payments.

When a claim payment is first created, it is a draft payment. The payment must then be authorised by a claims payment authoriser user. And finally, the claims payment will be marked as paid by an accounting user.

During the payment creation process, the user must select key options including the currency and the payee from dropdowns In the new payment modal.

When making a payment or recording a recovery the bank account must also be selected. The user also has the capability to choose whether or not the reserves are updated for the corresponding Claim section and currency group.

Please see video showing how to request a claims payment: