Restaurants & Hospitality + Insurance Claim: The Challenge
As restaurant owner, 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 Restaurants & Hospitality with Insurance Claim
Upload your restaurant bank statements and get clean spreadsheets to reconcile against your POS system, suppliers, and HMRC VAT returns. For insurance claim specifically, BankScan AI extracts Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, automatically.
How Restaurants & Hospitality Handle Insurance Claim
When preparing bank statements for insurance claim, restaurants & hospitality need to Restaurant owners or their bookkeepers reconcile daily card terminal settlements against POS end-of-day reports, match supplier invoice payments, trac. BankScan AI automates the data extraction step.
Key terms you'll encounter: POS reconciliation, card terminal settlement, tronc scheme, wet sales.
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 restaurants & hospitality 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 Restaurants & Hospitality — Insurance Claim
- Built for Restaurants & Hospitality — Saves 3-4 hours per week on daily POS-to-bank reconciliation and supplier payment matching for a typical restaurant with 200+ daily transactions
- Software compatible — Output works directly with Xero, MarketMan, QuickBooks
- 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: Restaurants & Hospitality + Insurance Claim
When restaurants & hospitality prepare bank statements for insurance claim, specific compliance requirements apply.
- Restaurants must comply with HMRC VAT rules including the reduced rate for hot food takeaway vs eat-in. Tronc scheme reporting for tips has specific tax treatment. Allergen record-keeping, while not financial, intersects with supplier payment tracking. Making Tax Digital mandates digital VAT records.
- 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 Restaurants & Hospitality
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 — Restaurants & Hospitality + Insurance Claim