Registered Insurance Brokers of Ontario (RIBO) Practice Exam

What is the primary purpose of multi-carrier hotlines in the claims payment process?

1. To streamline claims processing for multiple insurers

2. To encourage customer choice of medical practitioners

3. To provide financial assistance during emergencies

4. To manage policyholder complaints

The correct answer is: To streamline claims processing for multiple insurers

The primary purpose of multi-carrier hotlines in the claims payment process is to streamline claims processing for multiple insurers. These hotlines serve as a singular point of contact, enabling efficient communication between various insurers and claimants. By consolidating the claims processing system, multi-carrier hotlines can minimize delays, reduce administrative burdens, and enhance the overall efficiency of managing claims. The option regarding customer choice of medical practitioners pertains more to health insurance and provider networks rather than the claims payment process itself. Financial assistance during emergencies, while crucial, is not a direct function of multi-carrier hotlines, which focus on processing claims rather than providing immediate financial aid. Lastly, managing policyholder complaints is an important aspect of customer service but falls outside the specific functionality of streamlining processing for claims among multiple insurers.