MANAGEMENT

Detailed explanation-1: -An insurance claim is a formal request to an insurance company asking for a payment based on the terms of the insurance policy. The insurance company reviews the claim for its validity and then pays out to the insured or requesting party (on behalf of the insured) once approved.

Detailed explanation-2: -Claim-a request made by the insured for insurer remittance of payment due to loss incurred and covered under the policy agreement. Claims Adjustment Expenses-costs expected to be incurred in connection with the adjustment and recording of accident and health, auto medical and workers’ compensation claims.

Detailed explanation-3: -Property and Casualty Claims A claim filed for damage from covered perils is initially routed via the Internet to a representative of an insurer, commonly referred to as an agent or claims adjuster. Unlike health insurance claims, the onus is on the policyholder to report damage to a deeded property they own.

Detailed explanation-4: -An insurance claim is a request to the insurance company for payment after a policyholder experiences a loss covered by their policy. For example, if a home is damaged by a fire and the homeowner has insurance, they will file a claim to begin the process of the insurance company paying for the repairs.

Detailed explanation-5: -The claimant must submit the written intimation as soon as possible to enable the insurance company to initiate the claim processing. The claim intimation should consist of basic information such as policy number, name of the insured, date of death, cause of death, place of death, name of the claimant.