Mataracy
VIP Contributor
On the receipt of the notice and details of loss, the insurer may wish to investigate the loss. This is to ascertain whether the loss actually occurred and to know whether it falls within the scope of the policy cover or not. Thus, a thorough investigation may be necessary. In fact, since the insurer is holding the insurances fund on behalf of all policyholders, any payment, therefore should be entirely justified. This will invariably require careful investigation and reasonable proof, both of the insurer's liability and the amount involved (Quantum). However, in as much as the investigation must be thorough the insurer has to expedite action in order not to prejudice the interest of the insured and the efficiency of the claim process.
Depending on the nature and extent of the loss, the investigation could be carried out either by experienced personnel of the insurer or by an independent loss adjuster. Usually for the simple claims not involving huge amount , the insurer's experienced staff could be used. For the more complex claim involving huge amounts, the insurer would appoint a loss adjust the claim if the claim is valid..
Depending on the nature and extent of the loss, the investigation could be carried out either by experienced personnel of the insurer or by an independent loss adjuster. Usually for the simple claims not involving huge amount , the insurer's experienced staff could be used. For the more complex claim involving huge amounts, the insurer would appoint a loss adjust the claim if the claim is valid..