Insurance Claims Handling Process (IF4) provides you with knowledge and understanding of the claims handling process including notification, assessment, settlement and associate financial factors.
The default Enrolment option for this unit includes:
- Latest version of the core learning content, in digital format only.
- Additional revision aids.
- Assessment entry.
In this unit we will look at the knowledge and skills you will need to handle claims in a professional, consistent and accurate manner. And because claims handling is of such importance, we will place claims handling within the wider context of the systems, processes and functions that surround it.
The Oxford Dictionary defines insurance as 'an arrangement by which a company...undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium'. From this it will be apparent that the key role of insurance is the provision of compensation. In other words, we could say that insurance exists to pay claims. A person or company pays their premium in the expectation that, should the worst happen and the insured against event occurs, they will be financially protected.
Building a successful career in insurance
This course is for you if you work in insurance or aspire for a rewarding career in insurance.
Insurance Claims Handling Process (IF4) counts towards achieving the Certificate in Insurance. It may also count towards the Diploma in Insurance and the Advanced Diploma in Insurance.
Summary of learning outcomes
- Understand the general principles in the claims handling process.
- Understand insurance products and associated services.
- Understand claims consideration and administration.
- Understand claims handling procedures and related claims services.
- Understand claims handling operations.
- Understand claims settlement.
- Understand how expenses are managed.
- 2-hour exam
- 75 multiple choice questions
- 70% nominal pass mark
- The 2020 pass rate for this unit was 79%
Study material - editions available
2021 edition (applicable to exams sat 01 Jan 21 to 31 Dec 2021)