Motor Insurance: Road accidents in India remain a serious problem. In 2023, more than 1.73 lakh deaths and more than 4.63 lakh people were injured in road accidents across the country. In such a situation, motor insurance is not only a legal obligation, but also a security shield. This helps to maintain economic stability after the accident. However, traditional insurance claim processes are often difficult and time. The first long waiting period, paper work and circles of insurance companies made it difficult. But now online claim settlement is bringing a big change in the area of motor insurance. This has brought relief to the policyholders.
How to change digital process easy to settle claim?
Imagine that you have fallen victim to a road accident and your car is damaged. First, you have to report it, fill a lot of forms and make many rounds of the insurance company’s office. Claim settlement used to take several days or weeks. But now all this has become easier with online process. In just a few clicks, you can process the complete process from your smartphone itself.
Enter the accident report.
Photo of damaged parts of the vehicle and photo of the required document like registration certificate,
Upload the photo of the driving license.
The insurance company will digitally process claims.
You will be suggested to the nearest network garage, where repair will begin immediately.
Insurance Regulatory and Development Authority (IRDAI) has released several new guidelines in 2024 to promote digital reforms in the insurance sector. In these, insurance companies have been forced to give a fast and transparent digital solution.
New rules made in 2024 motor insurance reforms
Claim settlement is mandatory within 7 days of the survey report.
Appointment of surveyor within 24 hours.
Assessment of damage through AI and data analytics. This makes online claim settlement more sharp, safe and reliable.
Benefits of online claim settlement
Time savings – ANot a long waiting list, the claim settlement is happening rapidly with the digital process.
Transparency – Customers can track the status of their claim and talk to the insurance company through a digital platform.
Easy process – Complete claim settlement can be done at home, which saves both time and energy. Online claim settlement in motor insurance has now become not just a trend, but the necessary changes have been created. This is not only providing relief to the customers, but insurance companies are also fast adopting this process.