Claims administration essentially conforms to the following procedure
There must be a formal notification of any event that is likely to give rise to a claim under the policy, promptly and immediately. This could be done in writing, verbally or via telephone to the Head Office or nearest NAIC office in line with the requirements stated in the policy.
2. PROOF OF LOSS
An Insured is also expected to prove that he/she has actually suffered a loss recoverable on the policy and this can be done by way of providing documents such as photograph, police report, estimate of loss, purchase receipt, veterinary report (as in livestock policies) etc and other relevant claims supporting documents.
The process entails acknowledgement of notification, registration of claims, name of claimant, and determination of the existence of insurance cover, appointment of assessor /loss adjuster, review of the report submitted by assessor/adjusters, admission or repudiation of claim. The level of documentation depends on the class of business. Failure on the part of claimant to prove their losses convincingly or satisfactorily within a reasonable time may lead to repudiation of liability.
4. SETTLEMENT OFFER
Admitted claims are processed to the stage of making settlement offers and eventual settlement.
5. REPORTING CLAIMS ONLINE
Claims or losses under our insurance policies can also be reported on-line using the necessary platform.
• Report claim on-line (on-line reporting platform should be activated)
• Complete claim form on-line
• Download claim form on line
• Upload claim substantiating documents on line
The process entails, registration of claims, acknowledgment of notification, determination of the existence of insurance cover, appointment of assessor(s)/loss adjuster(s), review of the reports submitted by assessors/adjusters, admission or repudiation of the claim.
Admitted claims proceed to the stage of making an offer and eventual settlement.