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3. POLICY OWNER SERVICES

The teams in this function are the ones who issue the

actual policy documents. They also ensure customer

satisfaction by attending to various requirements arising

during the duration of a contract like change of

nominations, assignments, alterations, etc. These

employees are basically responsible for maintenance of

policy records, customer requests and informing policy-

owners about any material changes that affect their

policies. They also raise reminders of pending renewals and

ensure timely renewals. Lapsed policies are a major

concern for all insurers.

4. CLAIM ADMINISTRATION

The team here is responsible for the actual settlement of

claims. They analyze the claims received against various

policies. After thoroughly studying the claims, they decide

whether the claim is valid or not? They apply minutest

terms and conditions of the policy and take a call on

whether the claim is admissible or not? They calculate the

benefit amounts for settlement of all valid claims. Any

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