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Compensation Management Scheme
Compensation Management Scheme is the process of managing, analyzing, and determining the compensation payments.
Once a claim is set to pay out an indemnity, we issue a subrogation receipt providing a seamless service. We have the experience to set out payments everywhere.
From planning through implementation and administration, Claimar works with companies to address their needs and concerns related to subrogation and payments for their insured companies and people.
Claimar offers the service of Sanctions screening, a control used in the detection, prevention and disruption of financial crime and, in particular, sanctions risk.
Claimar manages fund accounts in multiple currencies and has the global capacity to reach financial settlements in any case.
What we offer
How does it work?
Once the adjustment is completed and the compensation payment is approved, Claimar will ensure that the client’s rights are protected by issuing a subrogation settlement that must be signed by the beneficiary of the policy. Before that, Claimar will have made sure to have the complete subrogation chain, from the real owner of the merchandise, if the case requires any extra steps in that regard.
After that, the client decides how they want Claimar to manage the payments on their behalf. We have two main options, but we can tailor our services to the needs of the client:
Annual amount. The client can transfer an estimated amount to us at the beginning of the year in the form of a reserve. From that reserve, we will make the payments once the adjustments have been closed and the compensation approved. At the end of the year, we will make a final adjustment with the amounts indemnified and we will detail the remaining reserve, which will be allocated to the destination the client decides.
Case by case. In this way, we will receive the client’s money individually for each case. The client can decide whether to transfer an amount as a reserve at the opening of the claim or wait until the adjustment is complete.
Frequently Asked Questions (FAQ)
Here we have a list of typical queries and doubts our clients may have.
We will tailor our service to your needs, but we recommend that Claimar creates the model from the client’s instructions.
Again, it is up to the client. Our service is flexible as it can adapt to several alternatives. If you prefer so, we can handle everything.