Claim Settlement

Type: Information Object

Status: Planned
Industry Sector: Insurance
Sensitivity Level: Confidential
Personal Information: Sensitive PII

Description:
A record of the agreed terms and payment under which an insurance claim has been resolved between the insurer and the claimant.

Accessed by Application(s):

• Claims Management System
• Reinsurance Administration System
• Subrogation Management Platform

 Yes

Attributes

Order	Name	Description	Type	Cardinality	Example value
1	Settlement ID	Unique identifier for the claim settlement	GUID	Mandatory
2	Claim ID	Reference to the insurance claim being settled	Reference	Mandatory
3	Settlement Type	Basis on which the claim was settled	Enumeration	Mandatory	Full Settlement
4	Settlement Amount	Amount agreed to be paid to the claimant	Decimal	Mandatory
5	Settlement Date	Date on which the settlement was agreed	Date	Mandatory
6	Payment Date	Date on which settlement funds were transferred	Date	Optional
7	Authorized By	Reference to the claims handler who authorized the settlement	Reference	Mandatory
8	Currency	Currency of the settlement amount	Enumeration	Mandatory	EUR

 Yes
 
 Planned
 Sensitive PII
 Confidential
 Insurance
 A record of the agreed terms and payment under which an insurance claim has been resolved between the insurer and the claimant.

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