CII 820 Practice Questions - Advanced Claims (820) Exam

What is the primary function of a Service Level Agreement (SLA) in a delegated claims handling contract?

To specify operational metrics, key performance indicators (KPIs), response times, and authority limits expected from the service provider. To transfer all underwriting profit to the claims service provider. To waive policy deductibles for all claims managed by external vendors. To restrict policyholders from filing complaints with the Financial Ombudsman Service.

Correct Answer:

To specify operational metrics, key performance indicators (KPIs), response times, and authority limits expected from the service provider.

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