claims administration

Claims administration is the process insurance companies use to manage and handle policyholders’ claims. When someone reports an incident, such as an accident or damage, the claims team reviews the details, verifies coverage, and evaluates the validity of the claim. They coordinate with adjusters, gather necessary documents, and determine the amount to be paid. The goal is to ensure a fair, timely resolution while preventing fraud or errors. Essentially, claims administration streamlines the steps from claim submission to settlement, ensuring policyholders receive the appropriate support and compensation according to their policy terms.