The flashcards below were created by user
on FreezingBlue Flashcards.
term incompassing both the following:
- Handeling individual claims
- Department claims processess and procedures
Claims Managment on a broader department baisis includes:
- Establishing procedures
- Providing administrative support
- Establishing a system of record keeping
- Ensuring budget compliance
- Aligning operations to overall corporate and vision staratagy
- Insurance compliance
- Staffing and education
Mission Statements must align with the companies:
Delivering a claims indemnity payments is accomplished in a way that preserves the insurance company's:
- Ability to sustain a business
Utmost good faith is associated with:
- respect for the insured.
What adjectives have been used by the courts to describe insurer conduct that warrents judicial punishment
For successful stratagies goals should be:
- cabable of being measured
What factors influence how a claims operation is organized
- Size of operation
- Whether operation is regional, national or international
- Lines of business it services
- Levels of expertise requires
What are the 3 systems of organizations:
Centralized Claims Operation
- Handels claim from one main location
- Decicion-making controls in one location
- One major office rather than a series of offices
Decentralized Claims Operation
- Has a regional claims offices with varying levels to deal with the complexity claim handeling.
- Head office staffed w/ senior technical examiners ready to assist regional offices
Hybrid Claims Operation
- Has elements from both systems
- Negative and positve effects of both structires are balanced against each other
Name 2 management structures
- Has layers of managment resembling a many-tired wedding cake
- Groups of Claim handelers report to their supervisors who report to their managers and so on.
- More employees than smaller organizations.
- Is like a single layer cake
- Fewer designated managers
- Cuts out the middle management layer
- Generally everyone reports to one supervisor or manager.