Which of the following is a key objective in the claims management process?

In the claims management process, a key objective is to minimize claim costs while ensuring fair settlements. This goal reflects the balance that insurers aim to achieve between managing expenses and providing equitable treatment to their policyholders. Effective claims handling necessitates a careful assessment of each claim to determine its validity and value, ensuring that claims are settled fairly and in a timely manner.

By focusing on minimizing costs, insurance companies can maintain profitability and sustain their operations, while providing policyholders with the assurance that legitimate claims will be honored. This objective is fundamental because it fosters trust between the insurer and the insured, bolstering customer satisfaction and loyalty.

Other options, such as increasing insurance premiums, rejecting claims, or streamlining policy sales, do not encapsulate the primary focus of the claims management process, which is fundamentally about achieving fair and equitable resolutions for claims while controlling costs.