The 7-Step Claims Management Process by Insurance Claims Experts

submitted 3 weeks ago by zebazaadi123 to MyNewRealm

  1. First Notice of Loss: The initial claim report is captured and logged.

  2. Investigation & Triage: We immediately gather facts to assess severity and priority.

  3. Policy Review & Validation: Coverage is verified against the active policy terms.

  4. Damage/Valuation Assessment: The extent of the loss is thoroughly evaluated.

  5. Negotiation & Resolution: We work to reach a fair and accurate settlement figure.

  6. Final Settlement & Payment: The claim is closed with disbursement of funds.

  7. Subrogation & Recovery: We pursue third parties to recover costs where applicable.