Claim Agent
What Does Claim Agent Mean?
A claim agent is an individual authorized by the insurance company to investigate and settle insurance claims. While there are different classes of claim agents, they generally share similar responsibilities.
A claim agent is also known as a claims adjuster.
Insuranceopedia Explains Claim Agent
A claim agent verifies the existence of an insurance policy and subsequently determines the extent of the insurer’s liability for the loss or damage suffered by the policyholder. This individual investigates the circumstances surrounding the damage or loss to the insured property, as well as any injuries or death of the beneficiary. In auto claims, this work usually begins once a policyholder reports an accident and follows the standard steps of what to do after a car accident. For property losses, such as a hurricane insurance claim, the agent may visit the home and review repair estimates before any payment is authorized. Alongside the investigation results, they evaluate the claim based on the terms and conditions outlined in the policy. Ultimately, a claim agent negotiates an appropriate settlement under applicable laws and best insurance practices.
