What is the term for the process of assessing claims made by policyholders?

The term that accurately describes the process of assessing claims made by policyholders is claims adjustment. This process involves evaluating the validity of the claims filed, determining the extent of the insurer's liability, and making recommendations for payment based on the policy's terms and conditions. Claims adjustment encompasses various activities including investigating claims, gathering evidence, consulting with experts, and negotiating settlements to ensure that policyholders receive the appropriate compensation according to their claim's circumstances and the insurance policy.

Claims verification typically refers to checking the authenticity of the claims rather than the overall assessment. Claims processing is a broader term that includes the entire workflow from claim initiation to final resolution but does not specifically emphasize the assessment component. Claims auditing involves reviewing claims for compliance and accuracy but is not the same as adjusting claims. Each of these terms plays a role in the insurance claims lifecycle, but claims adjustment specifically captures the essence of evaluating and deciding on claims made by policyholders.