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claims settlement checklist
Claim Verification
Collect and review the initial claim report from the policyholder.
Verify the policyholder's identity and policy details.
Check the claim against the terms and conditions of the policy.
Assess the validity of the claim documentation.
Confirm any previous claims and settlement history of the policyholder.
Damage Assessment
Schedule an appraisal with a certified adjuster.
Document the extent of damage through photos and reports.
Estimate repair or replacement costs based on current market rates.
Consult with experts if specialized knowledge is required.
Review the appraisal report for consistency and accuracy.
Settlement Processing
Calculate the settlement amount based on policy coverage and deductions.
Prepare the settlement offer and communicate it to the policyholder.
Address any disputes or negotiations regarding the settlement offer.
Finalize the settlement agreement and obtain necessary approvals.
Disburse the settlement funds to the policyholder or third parties as applicable.
