Introduction to General Insurance Claims

1. IIF INDIA INSURANCE FORUM INTRODUCTION TO CLAIMS 1

3. PLEASE FEEL FREE TO ASK QUESTIONS AT ANY POINT

5. DEFINITION OF AN INSURANCE CLAIM

6. WHAT ARE CLAIMS?

7. CLAIMS MANAGEMENT – THE PROCESS

8. IMPORTANCE OF EFFICIENT CLAIMS MANAGEMENT

12. A formal request to an insurance company asking for a payment based on the terms of the insurance policy.

14. CLAIMS - OPPORTUNITIES IN DISGUISE

15. CLAIMS - PROOF OF THE PUDDING/ MOMENTS OF TRUTH

16. PROBABILITY THEORY – CLAIM FREQUENCY & INTENSITY

17. CLAIMS – SEGMENTATION - LINEWISE DIFFERENTIATION – COMMERCIAL & RETAIL

20. CHECKING OF POLICY COVERAGES / PREMIUM PAYMENT

21. CLAIM REGISTRATION – IMPORTANCE OF PROVISIONING

22. GUIDING / SUPPORTING THE CLIENT & COLLECTION OF INFORMATION – IMPORTANCE OF TACT

23. APPOINTMENT OF SURVEYOR

24. INTIMATE PARTNERS – REINSURERS, COINSURERS ETC. – CLAIM CO-OPERATION

25. CLAIM NEGOTIATION

26. CLAIM SETTLEMENT – MAINTANENCE OF TAT FOR CUSTOMER SATISFACTION AND CONTROLLING COSTS

27. SERVICE PROVIDER / VENDOR PAYMENTS

28. SUBROGATION AND CONTRIBUTION / SALVAGE

30. PRACTICAL - GENERAL INSURANCE – SERVICE INDUSTRY – HUMANITARIAN ASPECT

31. CUSTOMER SATISFACTION – WOW FACTOR - POSITIVE PUBLICITY - MORE BUSINESS – PICK AND CHOOSE - IMPROVED QUALITY OF BUSINESS

32. CUSTOMER DISSATISFACTION – HATE FACTOR - NEGATIVE PUBLICITY – LESS BUSINESS –ASSET QUALITY DETERIORATION

34. LET’S DO IT FAST - CONSISTENTLY

35. OUR PHILOSOPHY - 15 IIF INDIA INSURANCE FORUM

36. “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” WARREN BUFFETT THANK YOU. ENSURING YOUR FUTURE 16 IIF INDIA INSURANCE FORUM OUR GOAL – TO BECOME THE INSURER OF CHOICE FOR _________