AXA Business Services Claims Associate Interview Questions and Answers

Q1. How does the truck's radiator work?
Ans. 
The truck's radiator works by cooling the engine coolant through a series of tubes and fins, dissipating heat generated by the engine.
• The radiator is filled with coolant, usually a mixture of water and antifreeze, which absorbs heat from the engine.

• As the hot coolant flows through the radiator, air passing over the fins helps to cool it down.

• The cooled coolant then circulates back to the engine to absorb more heat, mai...read more
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Q1. Golden Rules of Accounting
Ans. 
Golden Rules of Accounting are basic principles that guide the process of recording financial transactions.
• There are three Golden Rules of Accounting: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit all expenses and losses, Credit all incomes and gains.

• These rules help ensure that financial transactions are accurately recorded and classified.

• For example, when a company receives ca...read more
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Q2. What is the Insurance
Ans. 
Insurance is a contract between an individual and an insurance company where the individual pays premiums in exchange for financial protection against specified risks.
• Insurance provides financial protection against specified risks

• Individuals pay premiums to the insurance company

• Insurance is a contract between the individual and the insurance company
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Q1. Tell me about yourself.
Ans. 
Experienced claim processing executive with a strong background in insurance industry.
• Over 5 years of experience in processing insurance claims

• Proficient in using claim processing software and tools

• Strong attention to detail and accuracy in claim verification

• Excellent communication skills in dealing with clients and stakeholders
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Q2. What is your previous rolls and responsibility.
Ans. 
I have previously worked as a Claims Processor at XYZ Company, where I was responsible for accurately processing insurance claims and ensuring timely payments.
• Processed insurance claims for accuracy and completeness

• Verified policy information and coverage details

• Communicated with policyholders, healthcare providers, and insurance companies

• Resolved claim discrepancies and issues

• Maintained accurate records and documentat
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Q3. Do you know about claim settlement and insurance.
Ans. 
Yes, claim settlement involves processing and resolving insurance claims for individuals or organizations.
• Claim settlement involves reviewing and verifying insurance claims to determine coverage and validity.

• It also includes negotiating settlements with claimants or their representatives.

• Claim settlement may involve coordinating with various parties such as policyholders, insurance companies, and healthcare providers.

• E...read more
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Q4. What is your understanding about motor claim.
Ans. 
Motor claim refers to the process of filing for compensation for damages or losses incurred due to a vehicle accident.
• Motor claim involves submitting documentation such as police reports, repair estimates, and insurance policy details.

• The claim is reviewed by the insurance company to determine coverage and liability.

• Compensation may be provided for vehicle repairs, medical expenses, and other related costs.

• Motor claim ...read more
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Discussion on general topic

Q1. It was 1 hr 30 mins round consisting of Aptitude check, role play and questions regarding my previous experiences.
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Q1. Salary and other benefits negotiation round
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Q1. About yourself, working experience, salary expectations
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Q1. How early you could join, knowledge of medical codes
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Q1. Self introduction
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Q2. What is insurance
Ans. 
Insurance is a financial protection against potential losses or damages.
• Insurance is a contract between an individual or entity and an insurance company.

• The individual or entity pays a premium in exchange for coverage against specific risks.

• In case of a covered loss or damage, the insurance company compensates the policyholder.

• Types of insurance include health, auto, home, life, and business insurance.

• Insurance helps i...read more
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Q1. How does the truck's radiator work?
Ans. 
The truck's radiator works by cooling the engine coolant through a series of tubes and fins, dissipating heat generated by the engine.
• The radiator is filled with coolant, usually a mixture of water and antifreeze, which absorbs heat from the engine.

• As the hot coolant flows through the radiator, air passing over the fins helps to cool it down.

• The cooled coolant then circulates back to the engine to absorb more heat, mai...read more
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Q1. Yourself and last experience
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Q1. Last experience and related to insurance and reinsurance
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Q1. Critical thinking round
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