CLASSES OF INSURANCE
- Aviation
- Engineering
- Fire (Domestic, Commercial)
- Liability
- Marine
- Group / Personal Accident
- Theft (Burglary, Money, Fidelity Guarantee, Banker’s Blanket, Good in Transit)
- Workmen’s Compensation
- Miscellaneous (All Risk, Golfers, Plate Glass, Travel, Pet Insurance)
On the happening of any event or incident that may lead to a loss occurrence the same is to be notified to Sesa immediately. The procedure for the same is detailed below:
OVERVIEW OF CLAIMS WORKFLOW
1.Events giving rise to the claim
This may be an insured loss event, often provokes a discussion between the insured and insurer as to whether the event is a circumstance worthy of notificatio
2. Claim Notification
2. Claim Notification
- The amounts involved
- Proposal form
- Exact terms of the policy
- Market practice
4.Response to Claimant
The insurer’s first response to the insured may be an acknowledgement, request for more information/documentation and claim estimate.
5. Claim Investigation
Armed with the full facts of the case along with supportive documentation, a settlement offer is made. Settlement proposal will be shared in the form of a discharge voucher for Insured’s execution and return for settlement.
7. Claim Recoveries
Following payment of the claim, often the insurer under subrogation rights will be able to recover all or part of the outlay from other sources e.g. negligent third parties, reinsurers etc.
8. Review of Performance
Reviews are normally carried out in respect of a sample of outstanding/closed files, or any particular problematic claims.
This is important in order to ensure that service standards are maintained, internal decisions were correctly made, adequacy in reserving and lessons learnt can be incorporated in our Claims Management philosophy.