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Old 8th October 2015, 13:18   #1
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Smile Liberty Videocon: Online insurance claim lodging & processing, via their App

Now this I think is segment first and quite innovative too.

A lesser known player in Motor Insurance Liberty Videocon has introduced Tab-based Claims Surveyor App to enable technology-aided claims processing services. Titled "LiVclaims" surveyor app the Insurer has tried to do away with the errors and delays in the claim processing thereby reducing time and cost. The Surveyor can login into the app and check the claims assigned to him online and post survey would be able to process the claims and upload the pics of the claims on the spot instead of travelling to garage and office to upload the relevant documents. The assessment will be done online from any location of surveyor's presence, sent to garage and insured from handheld Tabs. The photos and requisite documents will be uploaded in the system online and the claims will be closed on the Tabs.

This will reduce the below:
A conventional claims processing model involves steps such as surveyor appointment, surveys at garages, manual assessments by the garage and surveyors, surveyor's approval to certain parts, claim approval and final discharge of claims payments. In this process, not only crucial initial days are lost, but it also entails into a huge time lag between actual accident time and claim processing, making the whole process lengthy
The app has been pilot tested for six months and during the testing phase they were able to process 80% of claims online.

The average time of claims processing on the Tabs has been almost two hours per claim (verses six hours earlier) and the average settlement lead time has reduced almost by half a day
More details in the link.
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