laims management and policy renewal: two strategic moments in the insurance journey
Claims management processes and renewal processes in the insurance industry differ significantly. Claims management is the insurer's response to specific cpa email list events and is divided into assessment and settlement operations. It is therefore a reactive moment. Renewal processes , on the other hand, are proactive, occur when the policy expires, require the insured to reflect on the validity of the risk determination policies included in his contract, and then make a decision on whether to extend the coverage.
The claims management process is activated when a policyholder suffers a loss or damage covered by their insurance policy, following the occurrence of unforeseeable events such as accidents, property damage or other types of insurable incidents. It involves three steps: filing the case, assessing the damage and paying compensation for the loss suffered. In terms of the documentation required, claims management is activated from the moment all relevant information relating to the incident or specific loss is collected and includes any supporting evidence that can objectively be considered relevant (for example, regarding the cause of the event and the existence and extent of the damage). The guiding principle of claims management is the fair and timely payment to the insured of what is established, based on the terms and conditions of the policy. The decision-making process involves assessing the validity of the claim and determining an appropriate compensation.