Prepare a document flowchart to reflect how ANGIC Insurance Company processes its casualty claims. The process begins

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Prepare a document flowchart to reflect how ANGIC Insurance Company processes its casualty claims. The process begins when the claims department receives a notice of loss from a claimant. Claims prepares and sends the claimant four copies of a proof-of-loss form on which the claimant must detail the cause, amount, and other aspects of the loss. Claims also initiates a record of the claim, which is sent with the notice of loss to the data processing department, where it is filed by claim number.

The claimant must fill out the proof-of-loss forms with an adjuster’s assistance. The adjuster must concur with the claimant on the estimated amount of loss. The claimant and adjuster each keep one copy of the proof-of-loss form. The claimant sends the two remaining copies to the claims department. Separately, the adjuster sub¬ mits a report to the claims department, confirming the estimates on the claimant’s proof-of-loss form.

The claims department authorizes a payment to the claimant, forwards a copy of the proof-of-loss form to data processing, and files the original proof-of-loss form and the adjuster’s report alphabetically. The data processing department prepares payment checks and mails them to the customers, files the proof-of-loss form with the claim record, and prepares a list of cash disbursements, which it transmits to the accounting department.

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Accounting Information Systems

ISBN: 12

11th Edition

Authors: Marshall RomneyPaul Steinbart

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