P&C Claims Processing Current-state process depiction Claim submission Loss assessment Claim approval 1 Report loss 2 Request additional Claim approved information Provide requested 5 6 Provide 7 Insuree information Broker Insurer Loss adjuster Claims agent additional Loss adjuster Claims agent information 3 Submit claim Asset Weather Credit Inspection Authority Initiate 8 database statistics reports provider report payment Broker Insuree 4 6 Confirm 5 Request additional Insurer Reinsurer submission Reinsurer Loss adjuster Claims agent information Insuree Current-state process description 1 Insuree reports loss and claims 4 After verifying the documentation received, the insurer(s) confirm 7 After concluding claim restitution from an insurer (and receipt of the claim submission assessments, the loss adjuster reinsurer, if applicable) via a 5 Loss adjusters perform claim assessments and verify the validity of the within each insurer reaches a broker (or independently) claims through client information, secondary data sources (e.g. conclusion about the claim 2 Broker may request additional weatherstatistics and authority reports) or additional inspection 8 If the claim is approved, information from insuree to assessments/interviews payment to the insuree is support the loss claim 6 If additional information is required by the insurer, a new information initiated via an insurer’s claims 3 Broker submits the claim to the request is made to the broker or insuree. In some situations, the agent insurer and reinsurer (in cases insuree must collect supporting documentation directly from of syndicate insurance or secondary data sources reinsurance) WORLD ECONOMIC FORUM | 2016 59