Letting Agents + Insurance Claim: The Challenge
As letting agent, 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 Letting Agents with Insurance Claim
Convert your client money account statements to Excel for fast reconciliation of rent receipts, deposit transfers, and management fee deductions. For insurance claim specifically, BankScan AI extracts Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, automatically.
How Letting Agents Handle Insurance Claim
When preparing bank statements for insurance claim, letting agents need to Letting agents collect rent from tenants into client money accounts, deduct management fees, pay landlords their net rent, handle deposit protection s. BankScan AI automates the data extraction step.
Key terms you'll encounter: client money protection, landlord statement, tenant deposit scheme, management fee.
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 letting agents 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 Letting Agents — Insurance Claim
- Built for Letting Agents — Saves 3-4 hours per week on client money account reconciliation for a letting agent managing 100+ properties
- Software compatible — Output works directly with Goodlord, Arthur Online, PayProp
- 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: Letting Agents + Insurance Claim
When letting agents prepare bank statements for insurance claim, specific compliance requirements apply.
- Letting agents must comply with Client Money Protection (CMP) schemes, which are now mandatory. The Tenant Fees Act 2019 restricts chargeable fees. Deposit protection within 30 days is a legal requirement. ARLA Propertymark members face additional auditing of client money accounts. Anti-money laundering rules apply to property transactions.
- 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 Letting Agents
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 — Letting Agents + Insurance Claim