Raising insurance claims

This page allows you raise a claim for a damaged asset if it has been covered by an insurance policy. You can enter details like the total amount for which the claim is being raised and the date on which the claim was raised. You can also carry out a search to retrieve the details of the asset for which you want to raise a claim. The system retrieves the asset information based on the search criteria entered. You can mark the assets against which the claim is to be made. You can enter details like the loss incurred due to the damage, this cost can be the value of the asset as a whole or the opportunity cost borne by the company and the amount claimed from the insurance company. You can also enter the reasons due to which the asset was damaged or lost. The login ID of the user and the system date are stored along with the claim details.

Select the “Raise Insurance Claim” link provided in the “Select Insurance Policy” page.

The “Raise Insurance Claim” page appears.

Enter the following fields:

Claim No

A unique number identifying the claim (Alphanumeric, 18). This number is generated and displayed by the system, when the “Raise Claim” pushbutton is clicked. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Document Numbering Class” business component.

Note: This field must not be left blank if “Manual” is selected in the “Numbering Type” field.

Numbering Type

Use the drop-down list box to select the numbering type for the login organization unit and the “Insurance Claim Voucher” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component.

The system displays the following:

Status	The status of the claim. It must be “Active”
	Active – indicates a newly created claim.

Enter the following fields:

Total Claim Amount	The total amount that has to be claimed (Decimal). Mandatory. The value entered in this field must be greater than zero.
Reference No	The number identifying the reference details of the policy (Alphanumeric, 18).
Claim Date	The date on which the claim is raised (Date Format). Mandatory. This date must be a valid date in an open “Finance Period”.

The system displays the following:

Policy No	The code identifying the policy.
Renewal No	The code identifying the renewal if the policy has been renewed.
Policy Type	The type of the policy.

Enter the following fields to search for assets that are covered by the policy.

Finance Book	Use the drop-down list box to select the code identifying the finance book in which the policy that you want to retrieve have been posted. All the finance books that have been mapped to the login organization unit will be available for selection in the ascending order.
Asset Class Code	Use the drop-down list box to select the code identifying the class to which the asset for which you want to raise a claim belongs. The asset classes that have been defined in the “Create Asset Class” activity of the “Asset Type Definition” business component and that are in “Active” status will be available for selection in the ascending order.
Asset Location Code	The code identifying the location in which the asset for which the claim is being raised was available (Alphanumeric, 20). The location code must have been defined in the “Create Asset Location” activity of the “Asset Location” business component and must be in the “Active” status.
	Help facility available.
Asset Group Code	The code identifying the group to which the asset belongs (Alphanumeric, 25). The asset group must have been defined in the “Create Asset Group” activity of the “Asset Type Definition” business component and must be in the “Active” status.
	Help facility available.
Cost Center	The code identifying the cost center to which the asset has been mapped (Alphanumeric, 10). This cost center must have been defined in the “Create Cost Center / Unit” activity of the “Cost Setup” business component.
Tag Status	Use the drop-down list box to select the status of the asset tag from “Marked for Insurance”, “Retired – Claimable” or “Active”.
	Marked for Insurance – indicates a damaged asset for which a claim has to be made.
	Retired – Claimable – indicates that the asset tag has been retired but a claim can be raised for it.
	Active – indicates that the asset tag is still in use.
	The system displays “Marked for Insurance” by default on launch of the page.

Click the “Get” pushbutton to retrieve the asset details.

The system displays the following in the “Asset Information” multiline based on the search criteria entered:

Note: The system retrieves all the assets from the selected policy.

Asset No	The code identifying the asset.
Asset Desc.	A textual description of the asset.
Tag No	The code identifying the asset tag.
Tag Desc.	The textual description of the asset tag.
Tag Status	The status of the asset tag. It could be “Marked for Insurance”, “Retired – Claimable” or “Active”.
	Marked for Insurance – indicates a damaged asset for which a claim has to be made.
	Retired – Claimable – indicates that the asset tag has been retired but a claim can be raised for it.
	Active – indicates that the asset tag is still in use.
Insurable Value	The insurable value of the asset tag.

Enter the following fields in the “Asset Information” multiline:

Loss Incurred	The amount incurred as loss (Decimal).
Claim Amount	The amount to be claimed (Decimal). Mandatory. The value entered in this field must be greater than zero. This field must not be left blank if the asset has been marked for raising a claim.

Note: The sum total of all the claim amounts entered in the “Asset Information” multiline must be equal to the value entered in the “Total Claim Amount” field.

Reason

The reason for raising the claim (Alphanumeric, 255).

Check the box in the “Select” column of the multiline to mark the asset for raising the claim.
Click the “Raise Claim” pushbutton to raise the claim for the asset.

The system saves the details of the claim and updates the status as “Active”. The system also updates the insurance status of the asset tag as “In Claim” and the inventory status of the asset as “OK”.

The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.

The system displays the following:

Created By	The login ID of the user who has raised the claim.
Created Date	The date on which the claim was made.

To proceed, carry out the following

Select the “Accounting Information” link at the bottom of the page to view the posting details of the asset.
Select the “Attach Notes” link at the bottom of the page to record your observations and comments regarding the claim.