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Managing Losses Using Claim Elements

Many insurance companies break down claims into subcomponents called claim elements. By subdividing claims in this way, insurers can delegate the management of these subcomponents to specific groups within their company according to their business rules.

To manage a loss using claim elements, end users would:

• Create a new first notice of loss. (See To create a first notice of loss.)
• Define new claim coverages and claim elements. Each claim coverage can contains multiple claim elements. (See To define new claims coverages and claim elements.)
• Record details specific to a claim element. (See To add claim element details.)

To define new claims coverages and claim elements

1. Navigate to the Claims screen.
2. In the Claims list, drill down on a claim.
3. Click the Assignments/Reserves view tab.
4. In the Claims Coverages list, add a record and complete the necessary fields.
5. Scroll down to the Claims Elements list.
6. In the Claims Elements list, add a record and complete the necessary fields.
7. Repeat Step 4 through Step 6 for each coverage involved in the loss.

To add claim element details

1. Navigate to the Claim Elements screen.
2. In the Claim Elements list, drill down on a claim.
3. Select the appropriate view tab to add details specific to the currently selected claim elements.

NOTE:  The view tabs on the Claim Elements screen function identically to those on the Claims screen.