"Claim Management" refers to the management of claims or demands that may arise between businesses, customers, suppliers, or other parties. This involves capturing, processing, tracking, and resolving claims to address potential conflicts and ensure fair and timely settlement.
Typical functions of software in the area of Claim Management could include:
Claim Capture: The software allows for capturing claims or demands and recording all relevant information such as parties involved, date, type of claim, and amount.
Workflow Management: It provides features to support a structured workflow for processing claims, including task assignment, escalations, and notifications.
Document Management: The software enables management of documents and records related to claims, including uploading, storing, retrieving, and sharing documents.
Status Tracking: It allows users to track the status of claims in real-time, including processing status, open tasks, and actions taken.