Charities & Non-Profits + Insurance Claim: The Challenge
As charity, 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 Charities & Non-Profits with Insurance Claim
Make bank statement reconciliation simple for volunteer treasurers. Upload statements, get clean spreadsheets for your financial reports. For insurance claim specifically, BankScan AI extracts Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, automatically.
How Charities & Non-Profits Handle Insurance Claim
When preparing bank statements for insurance claim, charities & non-profits need to Charity treasurers collect bank statements monthly, reconcile them against donation records and grant income, allocate expenditure to restricted and u. BankScan AI automates the data extraction step.
Key terms you'll encounter: restricted funds, unrestricted funds, fund accounting, Charity SORP.
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 charities & non-profits 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 Charities & Non-Profits — Insurance Claim
- Built for Charities & Non-Profits — Saves volunteer treasurers 2-3 hours per month on bank reconciliation, reducing reliance on accounting expertise that small charities often lack
- Software compatible — Output works directly with Xero, QuickBooks, LibreOffice Calc
- 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: Charities & Non-Profits + Insurance Claim
When charities & non-profits prepare bank statements for insurance claim, specific compliance requirements apply.
- Charities with income over 250,000 GBP must have accounts independently examined or audited. The Charity Commission requires annual accounts and returns, and SORP (Statement of Recommended Practice) governs how charity accounts are prepared. Fund accounting rules require income to be tracked against specific restricted funds.
- 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 Charities & Non-Profits
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 — Charities & Non-Profits + Insurance Claim