02 — Capability · BC-1750.30
Claim Settlement & Payment
Agree a fair settlement and get the money or the repair to the right person promptly, then close the claim cleanly and reopen it only when new facts arrive. Legal defense of litigated claims is coordinated with Legal.
- Claims Settlement
- Claim Payments
- Indemnity Payment
In scope
- Settlement offers and negotiation
- Claim payment issuance to policyholders, claimants and suppliers
- Repair and replacement through supplier networks
- Claim closure, reopening and litigated claim oversight
Out of scope
- Litigation strategy and outside counsel management (see BC-150.40)
- Executing outgoing payments from the insurer's bank accounts (see BC-230.40.20)
Realized by · 0
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Used in · 2
Build it · 0
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Decomposes into · 5
- BC-1750.30.10Claim Settlement NegotiationMake and negotiate settlement offers within authority, with deductibles, limits and prior payments applied correctly.
- BC-1750.30.20Indemnity Payment IssuanceApprove and issue indemnity and expense payments to the right payees, with checks against duplicates, liens and sanctions results.
- BC-1750.30.30Repair Network FulfillmentSettle claims by repair or replacement through approved repairers, contractors and replacement suppliers, and track their quality and cost.
- BC-1750.30.40Claim Closure & ReopeningClose a claim once all payments, recoveries and documents are complete, and reopen it under control when new information arrives.
- BC-1750.30.50Litigated Claim OversightTrack claims in suit, coordinate with defense counsel and keep reserves and settlement authority aligned with litigation developments.