Insurance Claim Settlement

Claim settlement is a crucial aspect of the insurance industry that directly impacts policyholder satisfaction and the reputation of insurance providers. The process involves investigating claims, verifying their validity, and determining appropriate compensation amounts. There are various types of claim settlements, including survival benefit, maturity benefit, death benefit, and rider claims. The general procedure for claim settlement includes claim intimation, documentation, investigation, evaluation, and payment issuance. Virtual Claim Settlement through video-based processing is becoming increasingly important in the industry, offering benefits such as faster claim processing, reduced fraud risk, enhanced operational efficiency, and improved customer satisfaction. VideoSDK's real-time audio-video solution for virtual claim settlement has developed a comprehensive virtual claim solution that leverages the power of real-time video to streamline claims submission and validation processes.