An insurance claim is a request made by a policyholder to a provider seeking reimbursement for a loss or damage that occurred during the coverage period of an insurance policy. It is a formal communication that outlines the details of an incident that caused the loss, the amount of damages incurred, and the coverage amount of the policy.

The process of filing an insurance claim typically involves the policyholder making a report to the insurance company and submitting supporting documents such as witness statements, police reports, and photos to provide proof of damage. The provider then assesses the validity of the claim, typically through an investigation, and determines if the policy covers the damages. If the claim is approved, the provider pays out the claim amount to the policyholder.

Insurance claims are used in the insurance industry as a means to protect policyholders from financial losses caused by unexpected events. It is a contractual agreement between the policyholder and the provider that helps mitigate risks and provides peace of mind to the policyholder. Insurance claims also help providers evaluate and adjust their pricing and risk assessment strategies to ensure financial stability and reduce fraudulent claims.