What is meant by "claims triage" in the context of insurance claims handling?

Claims triage refers to the systematic process of prioritizing claims based on their complexity or urgency. This method ensures that claims are handled efficiently, allowing insurers to allocate resources effectively and address the most critical claims in a timely manner. In the context of claims handling, it's vital to identify which claims may require more immediate attention due to factors like potential health hazards, considerable financial implications, or a greater likelihood of disputes arising. By utilizing a triage system, insurance companies can streamline their operations and enhance customer satisfaction, leading to quicker resolutions and improved claim outcomes.

While the other options relate to aspects of claims handling, they do not capture the essence of triage. Evaluating the financial stability of a claimant is important for underwriting and risk assessment but does not pertain to the prioritization of claims. Assessing fraud risk is a key component of the claims investigation process but again is not aligned with the concept of triage. Lastly, determining coverage eligibility is essential for processing claims but focuses on whether a claim should be accepted or rejected, rather than on how claims should be prioritized for handling.