Which of the following is a key objective of the settlement stage?

The key objective of the settlement stage in the claims handling process is to execute payment to the claimant. This stage follows the investigation and assessment phases, where the insurer determines the validity of the claim and the amount owed based on the terms of the policy. Settling the claim is crucial as it fulfills the insurer's obligation to compensate the policyholder for their loss, reinforcing the trust and reliability of the insurance service.

The execution of payment signifies the finalization of the claim process and allows the claimant to recover from their loss, while also ensuring that the insurer complies with its contractual commitments. This objective embodies the essence of insurance, which is to provide financial protection when losses occur.

Other options relate to different stages of the claims process. Completing the investigation pertains to the fact-finding phase where information is gathered to make informed decisions. Drawing up policy changes involves modifications to insurance terms or conditions, which is a separate process that may arise based on learning from claims but is not part of the settlement stage. Appealing denied claims concerns a process that occurs when a claim has been rejected, focusing on reconsideration rather than settlement. Thus, executing payment to the claimant effectively captures the primary aim of concluding the claims process.