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    03 — Value stream · VS-450

    First-Notice-to-Settlement

    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.

    • Claims Lifecycle
    • FNOL-to-Close
    • Loss-to-Settlement
    • Claim Journey
    // FIG. 03 · Stage flow
    1Report the Loss2Investigate & Res…3Settle & Pay4Recover5Close & Feed Back
    1. 01

      Report the Loss

      VS-450.10

      Take the first notice, confirm the policy was in force, and triage and assign the claim, at scale after a catastrophe.

    2. 02

      Investigate & Reserve

      VS-450.20

      Inspect and appraise the loss, decide liability and coverage, set the case reserve, and flag anything suspicious.

    3. 03

      Settle & Pay

      VS-450.30

      Agree the settlement, screen the payee, pay the claimant or arrange repair through the network, and oversee litigated claims.

    4. 04

      Recover

      VS-450.40

      Pursue liable third parties, dispose of salvage, and collect what reinsurers owe on the loss.

    5. 05

      Close & Feed Back

      VS-450.50

      Close the claim, reopen it if new facts arrive, and return loss experience to pricing and reserving.