A without prejudice meeting between the parties to try to resolve a claim, before or after court proceedings are filed.
In New South Wales this is generally called an informal settlement conference, or ISC. The parties may meet before filing, and once proceedings are filed they must attempt to resolve the claim before a full hearing. The evidence gathered so far is put against the insurer and a figure is negotiated. Most claims resolve at this stage or shortly after it.
This definition is specific to New South Wales. The same term can work differently in another state, and the glossary marks each entry accordingly.