Care Homes + Insurance Claim: The Challenge
As care home manager, 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 Care Homes with Insurance Claim
Convert your care home bank statements to Excel to reconcile council payments, private resident fees, and NHS funding allocations efficiently. For insurance claim specifically, BankScan AI extracts Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, automatically.
How Care Homes Handle Insurance Claim
When preparing bank statements for insurance claim, care homes need to Care home managers reconcile multiple funding streams: local authority spot purchase and block contract payments, private resident fees (often paid by. BankScan AI automates the data extraction step.
Key terms you'll encounter: funded nursing care, continuing healthcare, spot purchase, block contract.
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 care homes 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 Care Homes — Insurance Claim
- Built for Care Homes — Saves 3-4 hours per week on funding stream reconciliation for a care home with 40+ residents funded through multiple sources
- Software compatible — Output works directly with Sage, Xero, CoolCare
- 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: Care Homes + Insurance Claim
When care homes prepare bank statements for insurance claim, specific compliance requirements apply.
- CQC registration requires evidence of financial sustainability and governance. Local authority contracts mandate specific financial reporting. Residents' personal allowances must be managed separately in some cases. Care Act 2014 requirements affect fee-setting and financial assessment processes.
- 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 Care Homes
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 — Care Homes + Insurance Claim