The RiskPro claims module allows multi currency losses to be processed. At the time of entry, the system ensures that the user is prompted if the premium has not been paid therefore avoiding a potential funding situation.

The system checks the effective date of the claim against endorsements to ensure that the correct market is used for potential payment

Statistic only entries can be raised to deal with situations where the claims are out-sourced.

The claims module has a facility to pay third party fees (adjuster, surveyor, solicitor etc.) as part of the claim transaction or as a fee-only entry.

Extensive narrative facilites are available for both information and documentation purposes. User defined documentation can be produced and includes loss advices and market standard COSS forms etc. Where the original risk was setup as marine, the original vessel list is presented for selection to facilitate analysis and documentation. Where the original risk was scheme based, the covered sections are presented for selection.

Unlimited payments can be made per loss and partial market payments are catered for. In addition, where a claim is against a cover, a bordereau can be generated for a batch of entries.

Totals are shown for the loss and provide information such as reserve, settled, outstanding and settled fees etc. within currency.

The claim transaction can be reviewed prior to updating the ledger and entries are suspend until market approval is received.

After a claim accounting transaction has been made, further documentation can be produced if required. This includes credit notes (client and third parties), collection advices, market LCCF and transaction analysis sheets etc.

Claims can very easily be located and exported to Microsoft Excel using such criteria as client, loss name, claimant, vessel name, date of loss etc. Claims history can be incorporated into renewal documentation if requred.