Insurance Claim Settlement Module
INSIS provides a uniform way of claim processing that applies to all lines of business. The full cycle of handling of a claim is maintained by our claim processing software. It controls the limits defined in the contract and restricts the indemnity according to the deductibles or franchise defined per cover. It automatically separates and allocates the reinsurers and/or co-insurers share of the indemnity. The claim subsystem ensures effective control during the claim settlement against the cover, object, and contract states depending on the type of claim and according to the conditions of the contract. This control minimizes errors during claim process including double indemnity payment or payment against non-covered event. As all the operator's actions are registered in the system INSIS could prevent also internal frauds or at least supply information for fraud detection thus lowering the risk.
