The objective for anyclaim-paying organization is to strike the right balance in makinggood on the promise made by the coverage that was sold: Indemnifyand make whole the insured as quickly and efficiently aspossible.
Anyone purchasing an insurance policy is doing so with the ideathat someday a loss will occur, and a claim will be submitted.Given that very few policyholders actually read their policies —and those that do tend to not fully understand all the coverages —it's no surprise that once a loss happens, the insured often findshimself in uncharted waters with not much to go on.
Enter the claim adjuster. Their job is to evaluate the loss,manage outside experts, apply coverage, negotiate and settle withthe insured, pay the claim, and close the file. While they are atit, they are to use experience to identify potential fraud, andrecovery opportunities — all this while supervisors coach andauditors provide feedback.
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