Certified Claims Manager

Claims Managers undertake the responsibility of finding employment in companies specializing in claims or insurance or finance. These Claim managers are in high demand for their knowledge and practical skills in the claims, insurance, finance, and underwriting concepts. The Vskills Claims Manager certification will help you grab an edge over your competitors, with a benefitting career.

Why become a Certified Claims Manager?

The Claims Manager certification course aims to examine the candidates in various areas in fundamentals of insurance, underwriting, intermediaries, claim settlement procedures, legal aspects, ethics, and new trends in claim settlement. For candidates who aspire to grow in this respective field, this certification will increase their employment opportunities.

Who should take the Claims Manager certification?

The Claims Manager certification is designed for the job seekers and professionals who wish to make their CV’s stronger and would like to explore more in the insurance and finance niche. This certification will instill the skills that are necessary for today’s competitive market, along with giving high financial benefits.

Roles and Responsibilities of a Certified Claims Manager

Given below are the Responsibilities of a Certified Claims Manager

Firstly, to maintain a relationship with a customer through claims processing, claims services, and compensation services.
Secondly, to control the damage of the firm, as it is considered as the largest cost issue in a composite insurance company.
Then, to take care of further development and pricing
Subsequently, to deal with different tasks and jobs related to a claim manager’s position.
Also, to deal with customers to follow up any issue related to insurance claims
Moreover, to report the messages to the appropriate departments
Last but not the least, to record the report of the claim
Finally, to determine the amount of damage and if necessary involve an expert

Benefits of taking Vskills Certification

Vskills being India’s largest certification providers gives candidates access to top exams as well as provides after exam benefits. This includes:

The certifications will have a Government verification tag.
The Certification is valid for life.
Candidates will get lifelong e-learning access.
Access to free Practice Tests.
Candidates will get tagged as ‘Vskills Certified’ On Monsterindia.com and Shine.com

Exam Details

Exam Duration: 60 minutes
Vskills Exam Code: VS-1175
Number of questions: 50
Maximum marks: 50
Passing marks: 25 (50%)
Exam Mode: Online
There is NO negative marking in this module.

Career as a claims manager

Claims managers are in charge of the claims department, ensuring that the firm conducts an effective review in line with the law and regulations. They must be extremely meticulous and capable of detecting little inconsistencies that might indicate purposeful deceit or even incorrect facts. Let us know about Career as a Claims Manager!

Course Details

Certify and Increase Opportunity.
Be
Govt. Certified Claims Manager

Insurance

History
Principles of Insurance
Disclosure
Material Facts
Methods of insurance
Insurer’s Business Model
Types of Insurance
Insurance Policy

Underwriting

Introduction
Types of Underwriting
Underwriting Policy
Sources of Underwriting Information
Classes of Business
Assessment & Management of Exposure
Perils & Clause of Insurance Policies
Operational Control
Underwriting of Life Insurance
Underwriting of General Insurance

Underwriting and Claims Settlement

Introduction
Nature of Claim for Various Classes of Insurance
Types of Claims
Claim Settlement & Its Significance
Dispute, Litigation & Arbitration

The Role of Insurance Intermediaries

Introduction
The Role of Insurance Intermediaries

Claim Settlement

General Claim Settlement Procedure
Investigation and Assessment
Claims Documents
Arbitration
Settlement
Survey by Professional Surveyors
The Surveyor Report
Claim Procedure for Motor Insurance
Claim Procedure for Fire and Marine Insurance
Health Insurance Claim Settlement
Settlement of Insurance Claims

Legal Aspects

Introduction
Legal Aspects of Insurance Contracts

Ethics and Corporate Governance

Basics
IRDA Corporate Governance Guidelines
Protection of Policy Holders
Treating Customers Fairly

Trends in Claim Settlement

Introduction
End-to-End Claims Management Solutions
Focus on Key Performance Indicators
Advanced Fraud Detection Technologies
Customer Service
Quality Assurance and Insurance
Insurance Business & Claim Management in Other Countries

Preparation Guide for Certified Claims Manager Exam

The aim of a preparation guide is to arrange the proper steps of the study process, so that it is increases the stimulation of memorizing and eases the process. The mentioned steps in the guide are essential to follow, so that there is no last minute confusion in regards to the concepts and topics. This preparation guide below will help you with proper learning resources that’ll help you gain command of the skills required to pass the exam.

Step 1 – Review Exam Objectives

The first and foremost thing before you start preparing is to get well versed with the objectives of the exam. This will let you understand the way through which you will prepare for the exam and then help attain your certification. Below-mentioned are the objectives of the Certified Claims Manager Exam –

Insurance
Underwriting
Underwriting & Claims Settlement
Role of Insurance Intermediaries
Claim Settlement
Legal Aspects
Ethics & Corporate Governance
Trends in Claims settlement

Refer: Certified Claims Manager Brochure

Step 2 – Learning with Books

Books help your brain to be more active and gives you various perspectives on a single concept. The books exposes you to different concepts, and understandings while giving you latest and detailed information. Moroever, studying from books improves your memory as well.

The top 3 books for the Claims Manager certification exam are mentioned below.

Certified Claims Manager Handbook – The book essentially covers the concepts of types and different aspects of Claim management. The book also mentions role and trend in claim settlement

P&C Insurance Claim Management. The book has a rich insight into research conducted on claim management. There are 5 secret keys mentioned in the books regarding claim management.

The Certified Manager of Quality/ Organisational Excellence Handbook. The books add different knowledge on the facts based on insurance, along with the basic information regarding the concepts.

Step 3 – E-learning and Study material

E-learning introduces us to new concepts at a single platform anytime and anywhere. It promotes critical and creative thinking and exposes us to the realistic experience in learning, provided by professionals. Moreover, the videos available helps gain knowledge immediately because of its visual content. Vskills offers you its E-Learning Study Material and its hard copy as well, to supplement your learning experience and exam preparation. Moreover, this online learning material is available for a lifetime and is updated regularly.

Refer: Certified Claims Manager Sample Chapter

Step 4 – Check your Progress with Practice Tests

Practice tests tend to improve your stamina as it encourages us to work on our weak areas as we already know through practice test in which areas we have mastered. It saves time and improves focus, by removing our anxiety and boosting our confidence. So build your confidence with free practice tests Now

Job Interview Questions

Prepare for your next job Interview with Vskills Latest online Interview questions, these questions are created by experts to help you to overcome the interview fear.