Apple care+ theft and loss - AIG

My iPhone was robbed, I filed a claim on Aug 31st with AIG, provided the information and documents asked, and so far I have no information on the claim status other than “a licensed agent is looking into it” or “we are waiting for Apple to reply” or “we depend on Apple to revert”. No additional information is provided. no timeframe, nothing!

I know Apple is not an insurer, but Apple sells the insurance and must be making profit out of it!

what is the point of paying this Apple Care+ if it is little value when something happens? Also, what kind of reputation Apple wants to have?