Question: The Claim Function
After growing tired of your underwriting job at Big Mo Insurance Company, you transfer to the claims department and take a position as a claim representative. After a few weeks of training, you are ready to begin handling claims for Big Mo. On your first day in production, one of Big Mo's agents faxes you details of an automobile accident involving one of his clients who purchased a Big Mo personal auto policy from the agent. The insured (Bob) and his daughter (Sally) were involved in an accident that crumpled the insured automobile's front-end and injured Bob and Sally. Fortunately, both Bob and Sally will be alright, but Bob is still in the hospital recovering from his injuries.
In your discussion post this week, outline the process that you will follow in handling this claim. Be sure to include the following among your outline of the process:
1. What method will you use for setting reserves? Explain why you chose that method for this claim.
2. What kind(s) of investigation will you conduct?
3. What can you do to protect Big Mo's overall financial objectives as you handle this claim?
4. What tools will you use as you handle this claim?
5. How will you conclude the claim?
Attachment:- Discussion Forum Instructions.rar