Bookkeepers + Insurance Claim: The Challenge
As bookkeeper, preparing bank statements for insurance claim is a common but time-consuming task. Insurance claims for business interruption, theft, or fraud require bank statements as evidence of financial loss. Insurers need clear, organised financial documentation.
How BankScan AI Helps Bookkeepers with Insurance Claim
BankScan AI handles every major UK bank format automatically. Upload the PDF, download the spreadsheet — no manual data entry needed. For insurance claim specifically, BankScan AI extracts Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, automatically.
How Bookkeepers Handle Insurance Claim
When preparing bank statements for insurance claim, bookkeepers need to Bookkeepers collect bank statements from clients weekly or monthly, categorise each transaction against the chart of accounts, reconcile balances, and. BankScan AI automates the data extraction step.
Key terms you'll encounter: chart of accounts, bank feed, transaction categorisation, month-end close.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 12-24 months pre-loss for baseline comparison, plus the entire loss period; business interruption claims may need 3+ years of historical data of statements for insurance claim.
AI extracts what you need
Our AI extracts Pre-loss revenue baseline, post-loss revenue decline, increa — formatted for bookkeepers workflows.
Complete your insurance claim work
Download Excel files ready for insurance claim. Month-by-month comparison of pre-loss versus post-loss periods, with seasonal adjustments shown; clear separation of insured versus uninsured losses
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Bookkeepers — Insurance Claim
- Built for Bookkeepers — Saves approximately 30 minutes per client per month on data entry, freeing up 8-10 hours per week for a bookkeeper with 20+ clients
- Software compatible — Output works directly with Xero, QuickBooks Online, FreeAgent
- Built for Insurance Claim — Convert bank statements to structured Excel spreadsheets showing income patterns, loss periods, and transaction evidence for insurance claim submissions.
- Key data extracted — Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, continuing fixed costs during interruption, any saved expenses or alternative revenue
Compliance: Bookkeepers + Insurance Claim
When bookkeepers prepare bank statements for insurance claim, specific compliance requirements apply.
- Bookkeepers operating under ICB or IAB membership must follow professional standards for data handling and client confidentiality. GDPR applies to all client financial data, and Making Tax Digital requires digital record-keeping for VAT-registered clients.
- Legal basis: Insurance Act 2015 (duty of fair presentation); policy-specific claims conditions; Financial Ombudsman Service rules on fair claims handling
Insurance Claim — Built for Bookkeepers
Most policies require notification within 30 days and full claim submission within 6-12 months; delays give insurers grounds to question or deny the claim
Try Free — Bookkeepers + Insurance Claim