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Old 8th October 2015, 13:18   #1
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Smile Online car insurance claims & approvals

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:
Quote:
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.

Quote:
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.
http://economictimes.indiatimes.com/...w/49166511.cms
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Old 20th July 2018, 08:40   #2
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Smile re: Online car insurance claims & approvals

Bumping an old thread.

Online motor insurance claims seems to be catching on fast with many Insurance cos coming out with such provisions and even fancier names. It is known that motor insurance claims process in India is still quite cumbersome and dependant on the surveyor availability, inspections and approvals. Till the approvals from the surveyor is not recd by the workshop, repairs do not start. Unavailability of spares delays the process further. To address the issues most Insurance co are coming up with online claim process approvals.

ICICI Lombard has InstaSpect
Future Generali has i-Viss
Bajaj has Motor on the Spot (MOTS)
Liberty Videocon has LivClaims

Quote:
The customer has to inform the insurer about the claim, click pictures, upload relevant videos, along with the copy of the registration certificate, driving license, etc. The assessor then uses data analytics to give an instant quote. If the customer agrees with the quoted value, the amount is instantly credited to the policyholder’s account. Once repairs are completed the customer again submits photographs and videos of the repaired vehicle.
Quote:
According to Devendra Rane, founder and CTO - Coverfox.com, self-assessment claims, have far surpassed in speedy processing and payouts of claims. “Claims processing and disbursement, which used to take days, have now been reduced to just 30 minutes to a few hours,” he said.
There are some pre conditions laid down by Insurance co to register claims online.
Future Generali & ICICI Lombard have set Rs 50000 limit whereas Bajaj and Liberty have set Rs 20000 as the limit of online claims. The claims will be also be limited to only for low value and simple claims like windshield damages, mirrors and external body damages like (bumper, fender/side panel, doors)

http://www.zeebiz.com/india/news-mot...e-is-why-55429

Future Generali has announced of delivering the policy documents through Whatsapp.

https://timesofindia.indiatimes.com/...w/64959650.cms

Mods: Please change the thread title to "Online Motor Insurance Claims"
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