Claims Department
The claims department at an insurance company is the section that manages the settling and adjusting of claims. This department is an essential part of any insurance company’s operations and is one of its core functions.
A well-run claims department is key to any profitable and well-run insurance company. Some activities they are responsible for include:
- Receiving notice of claim from insureds.
- Adjusting and evaluating whether a loss is covered or not.
- Determining the amount of money or other compensation to be paid to the insured for insured losses.
- Investigating claims to determine whether fraud has occurred.
- Other tasks involving the handling and processes of claims received.