When a claim is approved by Sola, what is the payout timeframe?

When a claim is approved by Sola, the payout timeframe is within 72 hours. This means that once the claim has gone through the necessary approval process and all requirements are met, Sola commits to processing the payment efficiently to ensure that policyholders receive their funds in a timely manner. A clear timeframe helps in managing customer expectations and encourages trust in the insurance process.

The other options suggest shorter or longer timeframes that do not align with Sola’s established policies. Providing a payout within 24 or 48 hours may be too ambitious considering the administrative tasks required after approval, while a 7-day period extends beyond what Sola aims to achieve for swift claims resolution. By standardizing the payout timeframe to 72 hours, Sola can effectively balance efficiency with the practicalities of processing insurance claims.