Insurance Claim Management Process
is complex and it has to be followed quite carefully to ensure that the claim is processed as fast as possible and that you receive a full compensation you are entitled to.
Any gaps in documentation, unclear repair quotes, omitted material facts, or illegible claim form may result in the claim being denied, or the entire settlement process being delayed. You must remember that insurance companies are not keen on paying out claims, so they look for any reason to delay the process, especially on account of missing information.
Claim Management Process Steps
The claim management process consists of the following steps:
- site inspection – assess the damage & document the claim. It may require specialist consultation – materials expert, structural engineer assessment etc.)
- inspect policy wording to see which aspects of your loss are covered by your policy and which one’s might be excluded
- Advice on damage limitation and emergency works
- complete claim form and all supporting documentation
- notify insurers /submit the claim
- meet with insurance loss adjuster to agree the scope of repairs
- Formulate, compile and submit the most comprehensive claim estimates and reports for approval.
- negotiate the settlement
- receive the payout
- commence repairs
These are general steps making up claim management process, however these steps may vary depending on the type of claim and on the individual circumstances. As they say the devil is in the detail and each claim will be quite different.
If you would like Insurance Claim Solutions
to help you with any aspect of your Claim Management Process
, please call us on 086 357 1713.