What are the first two steps of the claim process?

The claim process typically begins with the steps of reporting and investigating. Reporting is crucial as it involves the policyholder notifying the insurance company of a loss or damage, providing the necessary information needed to initiate the claim. This initial contact is vital for documenting the claim and ensuring that the insurance company has a record of the incident.

Following the reporting stage, the investigation takes place. This step involves the insurance company gathering information to assess the validity of the claim. During the investigation, claims adjusters may review documents, interview involved parties, and collect evidence to determine the circumstances surrounding the claim. This thorough investigation is essential for establishing the facts related to the loss and supports the decision-making process regarding the claim.

The approach outlined in the correct answer reflects a logical sequence in the insurance claims process, laying the foundation for subsequent steps such as assessment, evaluation, and resolution.