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AIC 300 - Claims in an Evolving World Questions and Answers Solved 100% Correct!!

AIC 300 - Claims in an Evolving World Questions and Answers Solved 100% Correct!!

AIC 300 Claims in an Evolving World 50 Questions and Answers100% verified

Adam manages a claims department for an insurer. He measures the department's performance by best practices, claims audits, customer satisfaction data, and loss ratio. Which one of Adam's measures refers to a system of identified internal practices that claims representatives perform to produce superior performance?

A. Claims audits
B. Best practices
C. Loss ratio
D. Customer satisfaction data -
✔️B. Best practices

Best practices generally refers to a system of identified internal practices that are shared with claims reps and produce superior performance.

DaJuan, a claims representative, sets a low case reserve for a seemingly simple claim. A few weeks later it becomes apparent that the initial reserve was too low, and he increases it in order to issue payments. More bills related to the claim arrive a few months later, and he increases the reserve again. This process is known as
Select one:

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