An insurance Claim is the fulfilment of the promise to pay as defined in the insurance policy. When an event occurs, your policy needs to work for you and a partnership with an Insurance Broking professional is the best way to navigate the process.
There are few steps in the claims process:
- Notification of the claims and completing all claim forms.
- This may also include preparing all financial information needed to assess the claim
- Investigation
- During this part of the process an adjuster will be assigned to review the claims information to assess the claim. In a few occasions such as single car accidents an investigator will also be hired to obtain information.
- Settlement
- At this stage there is a presentation of information and an agreement on claim amount to be paid to the insured for their claim.
- Recovery
- If there are third parties involved there may be uninsured losses which may be recovered from these third parties.
