Which of the following describes the claims handling process?

The claims handling process is comprehensive and involves multiple steps to ensure that claims are assessed fairly and adequately. The correct description includes notification, investigation, assessment, and settlement of claims.

Notification refers to the initial step where the insured party informs the insurer about the occurrence of a loss or damage. Following that, the investigation phase involves gathering all relevant information related to the claim, which may include assessing the circumstances surrounding the incident, interviewing witnesses, and collecting evidence.

Assessment is critical as it involves evaluating the validity of the claim based on the policy terms and the information collected during the investigation. The final step, settlement, is where the insurer determines the amount payable to the claimant based on the assessment and agrees on a resolution or compensation.

This multi-step approach ensures that all aspects of a claim are considered, providing a fair outcome for both the insurer and the insured. Other options presented do not encompass the full scope of the claims handling process; they either focus on a limited aspect or omit key stages that are vital for a comprehensive claims management approach.