Saturday, October 21, 2017

Bajaj Allianz rolls out instant claim settlement sans human intervention

Bajaj Allianz has activated the technology-driven facility for flight delay and small-ticket motor accident claims

By Preeti Kulkarni

Motor and travel insurance policyholders of Bajaj Allianz General Insurance will now be able to file their claims and get claim settlement without having to tap company officials or intermediaries. 

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"Technology is helping us settle claims even before they are reported and is enabling claim settlement on the spot. It is reducing the need for physical inspection and documentation and thereby significantly bringing down the time taken in claims and query management," Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance said at the launch of motor and travel insurance apps Travel Ezee and Motor On The Spot (Motor OTS). 

Travel Ezee will use the Blockchain technology to ensure that claims related to flight delays or cancellation will be paid automatically, without the insured having to file a claim. International travellers can also buy a travel policy by simply scanning their boarding pass and passport.

Similarly, private car insurance customers can register their claims through Motor OTS, a facility that lets them register and self-inspect their motor insurance claims of up to Rs 20,000 through the company’s Insurance Wallet app, among other services. The policyholder will have to upload the pictures of the damaged vehicle along with other claim documents on the mobile application. Company will then recommend immediate liability to the customer and suggest a repair workshop. Once the customer accepts the recommendation, the insurer will approve the claim payout and the same will be credited to the insured's bank account within 30 minutes, the company said. 

 

preeti.kulkarni@outlookindia.com

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