Chapter 1 / 4
Introduction to claims
Processing of claims
Overview of P&C Claims
At the end of this session, you will be able to:
Explain the typical processing for P&C claims:
• Various stages of a claim
• Incoming documents
• Outgoing documents
• Changes to reserves during the process
Explain the concept of Salvage and processing
Explain the concept of Subrogation and processing
Explain the Litigation process
For the next chapter:
To the previous chapter
Chapter 2 / 4
What is a Claim?
Request for compensation of loss
On the happening of an insurance event
Chapter 3 / 4
Stages of Claim
Chapter 4 / 4
Formal process of claims initiated
Formal application for the claim: Claim Registration form
Basic checks for the validity of a claim are:
• Claim date is valid: If policy is in-force on date of loss?
• If Risk is covered under the policy?
• If Loss claimed is within the deductible limit?
• If there is any Duplicate claim?
Details provided are:
• Policy details and cause of loss
• Risk details: Insured Object and Damaged Object
• External evidence
• Typical Documentation: Proof of loss, police report, and bills
Preliminary estimate of the loss, a Claims Loss Reserve
Claim Registration form
Select the correct response and click Submit.
Insurer books liability towards claim at following stage
The correct answer is Claim Registration.
All pertinent evidence must be kept as close to the original state as possible so that _________ or __________ can detect the damage in the event of loss to the insured’s property
The correct answer is Claims assessor or surveyor.
In order to complete the tutorial one must go through all the material
This is where we come to the end