Auto Claim Calculation and Transaction Creation
Table of Contents
Introduction
In Seamless, you can configure the rule engine to perform claim calculations automatically based on the user inputs and policy data input. Then you can trigger to create a claim transaction automatically.
Currently, Seamless supports auto calculation and transaction creation for Reserve.
Prerequisites
Feature “Auto Claim Calculation“ is enabled.
Claim calculation is defined using Seamless rule engine. See Auto Claim Calculation and Transaction Creation | Configure rule engine for auto reserve calculation
Configure Claim Settings > Rules > Claim Calculation with the rule engine configured in the previous point.
It might require more advanced configurations to get values from other entities to use as the inputs for the claim calculation. Please contact Seamless Support Team for this.
Configure rule engine for auto claim calculation
The steps:
Define calculation in a rule engine file.
Go to WORKFLOWS menu > Rule Engine Setup > create a new Rule Engine.
Upload the rule engine file defined in step 1 and activate it.
Define rule engine file
Example: Calculate the total reserve for a claim
Input:
Total Claimed Amount: user input.
Cover Deductible Amount (per claim event): value from the policy.
Output: Reserve amount = Total Claimed Amount - Cover Deductible Amount
Example rule engine file: <TBD>
To understand the structure of a rule engine file, see Configure rule engine file (rules spreadsheet)
Perform claim calculation and transaction creation
After all the configurations were done:
Find the CALCULATION tab next to CLAIM tab.
In Transaction Details section, specify the transaction details. Type, Currency, Cover, Damage/Injury Type, Cause Type are required information.
In Calculation section, provide the input value.
Click Calculate button to perform the calculation and see the calculated amount.
Click Confirm & Create Reserve to create a reserve transaction for the calculated amount.
Notes:
Currently, Seamless only offers auto reserve creation.
The calculated reserve amount is the whole claim reserve amount.
Next time, if you want to adjust the total reserve, you should go back to the CALCULATION tab to update and recalculate.
For example:
If you would like to request an article, drop us a mail at seamless.support@seamless.insure