The document outlines the standard operating procedure for disbursing various claims related to personal accident and rural postal life insurance. It describes the process which includes indexing claims, processing by the claims processing center, generating sanction letters, and disbursing payments either via POSB account or other bank accounts. It provides details on the roles of various roles like indexer, approver, accounts branch, assistant postmaster and treasurer in the disbursement process.
The document outlines the standard operating procedure for disbursing various claims related to personal accident and rural postal life insurance. It describes the process which includes indexing claims, processing by the claims processing center, generating sanction letters, and disbursing payments either via POSB account or other bank accounts. It provides details on the roles of various roles like indexer, approver, accounts branch, assistant postmaster and treasurer in the disbursement process.
The document outlines the standard operating procedure for disbursing various claims related to personal accident and rural postal life insurance. It describes the process which includes indexing claims, processing by the claims processing center, generating sanction letters, and disbursing payments either via POSB account or other bank accounts. It provides details on the roles of various roles like indexer, approver, accounts branch, assistant postmaster and treasurer in the disbursement process.
The document outlines the standard operating procedure for disbursing various claims related to personal accident and rural postal life insurance. It describes the process which includes indexing claims, processing by the claims processing center, generating sanction letters, and disbursing payments either via POSB account or other bank accounts. It provides details on the roles of various roles like indexer, approver, accounts branch, assistant postmaster and treasurer in the disbursement process.
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STANDARD OPERATING PROCEDURE FOR DISBURSEMENT OF VARIOUS
CLAIMS RELATED TO PLI/RPLI
Claim requests process flow Indexing The insurant/clamant submit the claim requests alongwith copy of POSB account or NEFT Form & a copy of Cancelled Cheque/Copy of Bank Pass Book at BO, SO & HO for indexing it in McCamish System. Note:- Indexer must check premium pay to date of policy before indexing in McCamish System. Premium Paid to date must be updated according to PR Book. In case of non updation, document should be collected from the insurant/sales person and sent to CPC-PLI for updation of premium in McCamish system and manual receipt should be issued to the insurant/sales person. After updation of premium of the policy, it can be indexed at CPC-PLI. The claim documents then forward to CPC-PLI for processing. Processing
After successful processing in the system, the letter will be generated in file net. The CPC user will take the print out of the generated letters (Sanction) by using either of the methods given below:- i. Using Correspondence tab in McCamish. ii. Using Bulk Print Utility. iii. Using File Net After printing of the letters, it should be placed before the Manager CPC-PLI in triplicate for signing. One copy will be retained in file as Office Copy, the second one should be sent to the insurant and the third copy should be sent to treasury branch for disbursement of claim payment.
Note:- Usually, the office of indexed request is updated as
disbursement office (for old cases only) For such cases, QC, Approver users have to redirect request to DE and at DE stage, Disbursement office has to be selected and submitted to QC. But, the new cases traversing through DE will have selected office for disbursement -2-
In Case of payment is requested through another disbursing centre than Claim
processing CPC, a signed copy of the sanction letter should be uploaded into file net by using bulk upload utility. -3-
Process flow of Disbursement of claims
Disbursement process comprised two stages.
(i) Data entry
(i) Approver
Before completing or initiating the step one, the disbursement status will be in pending status. Once data entry step is completed, then the disbursement status will be changed into “Pending for Approval”. Once approver stage is completed, the status of disbursement will be changed to Paid. Ensure that the disbursement process is completed before effecting payment to the claimant /insurant. HO accounts branch should monitor the disbursement report generated from McCamish and reconciled with cash account on daily basis. The supervisory officer of treasury branch will verify the disbursement details in McCamish system and approve the details entered by the payee official. Working Procedure for disbursement of claims.
There are two types of payment method for disbursing claims:-
(1) Customer with POSB account.
(2) Customer with Bank accounts. Procedure for disbursing claims to the customers having POSB Account.
Customer will present claim request alongwith all requisite documents and copy of the POSB account at BO/SO/HO. Upon receipt of requests, CPC will process and generate sanction. CPC will hand over the duly signed sanction to Accounts Branch of HPO alongwith the copy of POSB account. Account Branch will enter the payments particulars in the claim payment register. Affix payment section seal, duly note the GL CODE in the sanction letter. Accounts Branch will then transfer the claim form alongwith excel file prepared for uploading in Finacle to APM SB. -4-
APM SB will cross check the excel file with voucher, upload the file and provide the remark :Credited to Account No XXXXXXXX65 in the claim form along with his/her signature and seal. APM SB will then transfer the clam sanction form to Treasure for voucher posting. The treasurer will duly post the voucher and then transfer the paid voucher to Accounts Branch alongwith HO summary. Accounts branch will duly note payment in claim payment register and upload pending disbursement details in McCamish. Since there are only two options for payment in Pending Disbursement in McCamish i.e Cash/Cheque, the cheque option should be selected and in the place of cheque number, the last six digits of POSB account number should be entered. IFSC code of the bank attached to HPO may be utilised. In the ‘Add Comment” option, the particulars of POSB number should be entered. Procedure for disbursing claims to the customers having Bank Account.
Customer will present claim request alongwith all requisite documents and NEFT Form & a copy of Cancelled Cheque/Copy of Bank Pass Book at BO/SO/HO. Upon receipt of requests, CPC will process and generate sanction. The duly signed sanction will be handed over to Accounts Branch of HPO alongwith NEFT Form & a copy of Cancelled Cheque/Copy of Bank Pass Book. Account Branch will enter the payments particulars in the claim payment register. Affix payment section seal, duly note the GL CODE in the sanction letter. Accounts Branch will duly fill bank pay slip/NEFT formand submit the same to Postmaster for issued cheque alongwith claim sanction and Cancelled Cheque/Copy of Bank Pass Book. Provide remark in claim sanction memo “Credited to Bank Account no XXXXXXXX45. Postmaster will duly check claim sanction, NEFT Form & a copy of Cancelled Cheque/Copy of Bank Pass Book and transfer the same to treasurer. -5-
The treasure will do voucher post the claim in SAP and send payslip and cheque to bank through cash overseer. After returning, the UTR number generated from bank while doing NEFT should be noted in claim memo. The treasurer will then forward the paid voucher to Accounts Branch through HPO summary. Accounts branch will duly note payment in claim payment register and upload pending disbursement details in McCamish. In the ‘Add Comment” option, the Bank Account number should be entered.
In all the scenario above, Postmaster, Supervisor of Accounts/CPC will have to
ensure from disbursement details available on McCamish that the correct amount is accounted for in the relevant Head of the account. In case of variation, the matter should immediately be reported to the Divisional Head by the Supervisor/Postmaster.
Appendix 21 C Procedure of Electronic Fund Transfer (Procedure For Deposit/refund of Import Application Fees Through Electronic Fund Transfer For Notified Schemes Through Designated Banks)
Appendix 21 C Procedure of Electronic Fund Transfer (Procedure For Deposit/refund of Import Application Fees Through Electronic Fund Transfer For Notified Schemes Through Designated Banks)
