Underwriting overview

Open coverage, pending verification and claims across all enrolled hospitals.

Demo environment · Q4 2026
Covered purchase volume
$4.82M
118 active policies · 23 hospitals
Premiums collected
$482,400
10% of covered volume
Claims paid (YTD)
$296,100
Loss ratio 61%
Invoices held for review
7
3 custody gaps · 4 ceiling breaches
Avg. unused at term end
18.4%
Across 61 closed terms

Purchase order

The PO is the anchor record. Every invoice, shipment, receipt and claim must trace back to a PO number issued through the portal.

Purchase order
PO-26-4471
Issued 2026-10-17 · 09:42 CT · via Baig Portal
Status
Acknowledged by retailer
Coverage election: Downsize · 180-day term
Buyer (Hospital)
Mercy Regional Medical Center
Materials Management · 1400 Hospital Dr · Lemont, IL
Buyer ID H-0231 · Bed count 212
Sold by (Retailer)
ABC Medical
Retailer ID R-0044 · Contract ABC-MR-2026
Payment: split via Baig Portal on verification
Manufacturer of record
Medline
ASN required before coverage binds
Lot-level custody tracking on
LineSKUDescriptionMfrQtyUnitUnit priceLine total
1MDL-ST-45Linear cutter stapler, 45 mm, sterileMedlineea$7,000.00
2MDL-SR-45BReload cartridge, 45 mm, blueMedlineea$3,000.00
Merchandise subtotal (to ABC Medical)$10,000.00
Downsize coverage premium · % of PO (to Baig) · calculated automatically$1,000.00
Total due at settlement$11,000.00
Ship to Mercy Regional receiving dock, door 3 · required by 2026-10-28
Coverage terms 180 days from settlement · 80% of verified unused value returned at term end · claim requires lot-level attestation and usage-feed match
Ceiling check at issue 62% of annual stapler ceiling with this PO open · cleared
Approvals Buyer: K. Alvarez, Director of Materials · Retailer ack: ABC Medical order desk, 2026-10-17 11:05 CT

Coverage lifecycle

Worked example on a $10,000 purchase order. Every step is logged, timestamped and visible to the parties it touches.

01
PO issued
Hospital sends a purchase order to the supplier through the portal. PO number becomes the anchor for everything after.
PO $10,000
Downsize coverage bought
02
Hospital elects coverage at checkout. Premium is set by product class, hospital history and term length.
Premium $1,000 (10%)
03
Invoice submitted
Supplier invoice uploaded. Portal matches it to the PO line by line and attaches the premium.
Due $11,000
04
Verification
Authenticity, chain of custody, ceilings and trend checks run before any coverage binds.
9 checks
05
Split payment
One click. $10,000 routes to the supplier, $1,000 to Baig. Coverage binds on settlement.
Bound · 180-day term
06
Term-end reconciliation
Hospital attests unused quantity by lot number. Portal cross-checks against usage feed and receiving records.
Unused 30% · $3,000
07
Claim paid
80% of verified unused value returned to the hospital. Unused product routed to return or redistribution.
Payout $2,400

Policies & invoices

Click a row to load it into the verification engine.

POHospitalRetailer (ABC)ProductCoveredTerm endsStatus
PO-26-4471Mercy RegionalABC MedicalSurgical staplers, 400 ct$10,0002027-04-28Bound
PO-26-4502St. Agnes CommunityABC MedicalIV sets, 2,400 ct$18,6002027-03-15Held · ceiling
PO-26-4519Lakeside GeneralABC MedicalHernia mesh, 60 ct$42,0002027-05-02Held · custody
PO-26-4388Mercy RegionalABC MedicalSutures, 1,200 ct$7,2002026-10-14Claim paid · $1,152
PO-26-4533Riverbend HealthABC MedicalCatheter kits, 800 ct$12,4002027-04-30Awaiting invoice

Verification engine

Reviewing PO-26-4471 · Mercy Regional · ABC Medical

Not run

Levers & ceilings

Each hospital carries a purchase ceiling per product class, set from its 12-month consumption, licensed beds and procedure volume. Orders above the ceiling are held; coverage never binds on bulk a hospital cannot plausibly use.

Mercy Regional · staplers
62% of ceiling
St. Agnes · IV sets
138% · held
Lakeside · hernia mesh
79% of ceiling
Mercy Regional · sutures
41% of ceiling
Riverbend · catheter kits
55% of ceiling
Black tick = ceiling (85% of validated annual need). Fill = this term's covered orders plus open POs for the same class.

Consumption lever

12-month usage per product class from the hospital's materials-management feed. Orders are scored against a rolling average, not a single month.

Capacity lever

Licensed beds, OR count and case mix cap what a facility can physically consume. A 90-bed hospital ordering a 400-bed quantity is flagged before coverage prices.

Resale lever

Lot numbers covered under one hospital's policy are watched across the network. The same lot surfacing at another facility, or in a second supplier's invoice, freezes the claim.

Coverage calculator

What the hospital pays, what it gets back, and what Baig keeps. Adjust any number.

Premium paid
$1,000
Unused value
$3,000
Claim payout
$2,400
Hospital net vs. no coverage
+$1,400
Baig margin on this policy
−$1,400
Break-even unused %
12.5%
Baig's book is profitable because most terms close well under the break-even unused rate; the ceiling and trend checks keep the tail from being gamed.