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The Claims Management component includes several sub-systems designed for the regulation of reclamation issues between insurers/assurers and the company, as well as between the company and reinsurers.
The mentioned sub-systems are:
- Hotline
- Claims registrar
- Indemnity management
- Claims reinsurance management
- Claims reporting
Hotline performs registration of primary information relating to insurance cases/claims based on received calls from the insured parties. The system also makes audio recordings of received calls and appends them to corresponding case records for further tracking of the issues.
Claims Registrar is intended for the detailed registration of claim requests including submitted case statements if any and invoices from third party service providers (e.g. car repair shops, spare stores, hospitals, etc.).
Indemnity Management component assists in performing estimation of losses and calculation of the payable sums based on the provided information in the Claims Registrar, as well as determining the possible insurance coverage and calculation of payment based on the policy terms and risks.
Claims reinsurance management is intended for regulation of indemnity issues arisen from the reinsured risks of satisfied claims. If the decision on satisfying the received claim is made, the system automatically calculates the reinsurance costs in accordance with applicable schemes. The information on the indemnity payments made and received by the company is automatically reflected in the Financial Management component.
Claims Reporting sub-section makes it possible to get statistical reports for a certain period of time on received, pending, rejected, and satisfied claims, summarized reports on made indemnities, received reinsurance as well as awaiting payments. All generated reports are possible to extract into Excel's environment.
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