{"version":"0.35.0","built_at":"2026-10-24T11:24:42.001Z","license":"CC BY 4.0 © Mike Reams","canonical":"https://catalog.mikereams.com","value_stream":{"id":"VS-450","name":"First-Notice-to-Settlement","industries":["financial-services"],"description":"Carry an insured loss from the first report through coverage checks, investigation and reserving to payment, and on to recoveries from third parties, salvage and reinsurers before the claim closes. Health plan claims are not part of this lens.","outcome":"The claimant is paid what the policy owes, promptly and fairly, recoveries are collected, and the claim is closed with an accurate reserve history.","trigger":"A policyholder, claimant or broker reports a loss or a covered event.","aliases":["Claims Lifecycle","FNOL-to-Close","Loss-to-Settlement","Claim Journey"],"stages":[{"id":"VS-450.10","order":1,"name":"Report the Loss","description":"Take the first notice, confirm the policy was in force, and triage and assign the claim, at scale after a catastrophe.","capability_ids":["BC-1750.10"],"events":[]},{"id":"VS-450.20","order":2,"name":"Investigate & Reserve","description":"Inspect and appraise the loss, decide liability and coverage, set the case reserve, and flag anything suspicious.","capability_ids":["BC-1750.20","BC-1750.50"],"events":[]},{"id":"VS-450.30","order":3,"name":"Settle & Pay","description":"Agree the settlement, screen the payee, pay the claimant or arrange repair through the network, and oversee litigated claims.","capability_ids":["BC-1750.30","BC-230.40","BC-1770.30"],"events":[]},{"id":"VS-450.40","order":4,"name":"Recover","description":"Pursue liable third parties, dispose of salvage, and collect what reinsurers owe on the loss.","capability_ids":["BC-1750.40","BC-1740.50"],"events":[]},{"id":"VS-450.50","order":5,"name":"Close & Feed Back","description":"Close the claim, reopen it if new facts arrive, and return loss experience to pricing and reserving.","capability_ids":["BC-1750.30","BC-1740.10","BC-1740.60"],"events":[]}]}}