Claims Management
Whenever an individual or a company suffers an loss, they may be entitled to make a claim under the terms of their insurance policy. Once a claim is made, the key role of the claims function within an insurance company, a dedicated claims management company or the claims team of an insurance broker is to enable the party to carry on their life or business as normal, without interruption.
Claims professionals work on behalf of insurance policyholders and the insurance companies, investigating claims, determining their extent and validity, and negotiating the claim on behalf of the insured.
Loss adjusters, who operate independently of insurance companies, aim to mitigate loss and get businesses back up and running with the minimum amount of disruption. They look into the circumstances surrounding a claim - establishing the cause of a fire, for example - before negotiating a fair sum to replace the loss or repair the damage.
Having checked the authenticity of the claim and negotiated an acceptable amount, loss adjusters will report the facts to the insurers and make recommendations for interim and final payments. Although they cannot commit the insurers to payment, or determine the actual amount paid, they are deemed to be fair and impartial. Most insurance companies maintain a panel of loss adjuster firms.
The Chartered Institute of Loss Adjusters (CILA)
020 7337 9960
www.cila.co.uk
