Components of Insurance Contract
In battle cards under service components.. it says "e.g. claims adjudication with reinsurance protection". What do this mean? I am still a bit unclear on what service components are
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In battle cards under service components.. it says "e.g. claims adjudication with reinsurance protection". What do this mean? I am still a bit unclear on what service components are
Comments
Hi,
Claims adjudication here refers to the costs associated with determining how much the reinsurer needs to pay for a claim. Service components are stuff related to providing insurance services i.e. claims handling, customer support, etc...