Claims - Insurance Software development

Insurance Claims

Author - Webner
4:39 am
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When a policyholder requests compensation for a covered loss or policy event from an insurance company, it is known as an insurance claim. The insurance company has the authority to validate the claims so they can approve or denies the claims according to the policy term and conditions.

If it is denied then the company will not pay any amount for that loss or if it is approved then the company will issue the payment to the insured according to the loss amount.

Most commonly, Insurance claims involve the cost of medical goods and services, physical damage, loss of life […]

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