The Accounting tab provides an all-up view of the financial activity across the entire claim. It's read-only and designed to give claims handlers, auditors, and supervisors a consolidated summary of the claim’s exposures and the financials tied to them.
Unlike other tabs, the Accounting tab does not support editing or adding entries. It serves purely as a reporting and oversight tool, pulling data from all exposures and aggregating it into a single, claim-level summary.
What’s Displayed
The Accounting tab displays all exposures linked to the claim and the associated financial information in a summary format, including:
- Coverage Name – Identifies the policy coverage the exposure is filed against (e.g., Coverage E – Personal Liability).
- Loss Type – Indicates whether the financials are tied to a policy coverage or specific loss item (e.g., vehicle, property, injury).
- Breakdown by Category – For each exposure, totals are displayed across standard accounting categories:
- Reserve
- Payment
- Total Incurred
- Total Recovery
- Net Incurred
These amounts are rolled up per exposure and again at the claim level in a Totals section at the top of the screen.
Use Case
The Accounting tab is commonly used for:
- Auditing a claim’s overall financial impact.
- Reviewing totals before closing a claim.
- Verifying that all exposures have been accounted for.
- Viewing recovery offsets and net incurred loss amounts in one place.
Notes:
- No actions can be taken from the Accounting tab.
- All edits to reserves, payments, or recoveries must be made within individual exposures.
- The Accounting tab automatically updates as changes are made to exposures elsewhere in the claim.