What is insurance and reconciliation?

Question

Accepted Answer

Insurance is a contract between an individual and an insurance company to protect against financial loss. Reconciliation is the process of comparing financial records to ensure accuracy.

Insurance is a means of protection against financial loss due to unforeseen events such as accidents, illnesses, or natural disasters.
Reconciliation involves comparing financial records to ensure that they are accurate and in agreement with each other.
Insurance reconciliation involves verifying that insurance claims have been properly processed and paid by comparing insurance company records with healthcare provider records.
This process helps to identify any discrepancies or errors in billing and ensures that payments are made correctly.
Insurance reconciliation is an important part of credit control analysis as it helps to ensure that payments are received on time and accurately.
Examples of insurance reconciliation include reconciling medical claims, auto insurance claims, and property insurance claims.

What is insurance and reconciliation?

Top HR questions asked in Axa XL Credit Control Analyst