What function would you use to calculate the time elapsed since a specific incident?

Calculating the time elapsed since a specific incident, such as a loss date, is a necessary function in managing claims and evaluating the status of the incident. The method of calculating the number of days since a loss date directly measures time gaps, which is essential for determining various aspects of claims management, including the timeliness of reporting, claim progression, and potential changes in circumstances relevant to the claim.

By subtracting the loss date from the current date, one can derive the exact number of days that have passed since the incident. This data aids in decision-making and can influence subsequent actions taken by claims adjusters or insurance underwriters.

The other functions, while essential in their own rights, do not pertain to the calculation of elapsed time since an incident. Determining risk factors focuses on evaluating the potential risks involved in a policy or situation. Assessing coverage needs involves analyzing the adequacy of coverage for a given policyholder, which is distinct from measuring time since an incident. Evaluating claim severity typically assesses the financial impact or seriousness of a claim, but again does not involve time elapsed calculations. Hence, the function that specifically addresses the calculation of time since a specific incident is appropriate as it directly relates to the processes involved in claims management and incident reporting