Receipt a reinsurance recovery
Important. Reinsurance receipting functionality requires Simfuni to be set up with reinsurance configuration. If reinsurance is not configured then the Claims Workbench will not provision for reinsurance recoveries and you won’t be able to match incoming payments from reinsurers against claims.
Benefits can be configured to require a reinsurance recovery before the claim can be paid. The payment is held in Awaiting Reinsurance Recovery status until the reinsurer's payment is receipted in Match Payments. This walkthrough covers that flow.
Set up a claim that needs reinsurance
Lodge a claim against a policy where at least one component on the affected rider is configured with Reinsurance Recovery Required. Work through the claim up to and including reviewer approval of the assessment.
Check the payment status
On the Financials tab, the payment should now be in Awaiting Reinsurance Recovery status. Finance approval is disabled while the payment sits in this status.
Receipt the recovery in Match Payments
- Open the Match Payments screen.
- Find the inbound payment from the reinsurer.
- Allocate it against the claim. Match Payments also supports allocating a single bulk reinsurance payment across multiple claims and policies in one go.
- Confirm the allocation.
Approve and pay
Back on the claim's Financials tab, the payment status should now have moved to Pending (or Awaiting Payment Details if the payee bank details haven't been captured yet). The reinsurance recovered amount appears in the provisions summary.
From here, the standard four-eyes payment approval flow applies. Two Finance users approve the claim payment from the Outgoing Payments screen, and the payment is processed.