Insurers speed up claims settlement for cyclone victims
Insurance cos have initiated preparations for the huge claim that may arise for settlements as IMD issued a Biparjoy cyclone alert for Saurashtra and Kutch Coast
image for illustrative purpose
Mumbai As the intensifying Cyclone Biparjoy poses a potential threat to the coastal regions of Gujarat, The Indian Meteorological Department (IMD) on Sunday evening issued a Cyclone alert for Saurashtra and Kutch Coast, insurers have started gearing up for the huge claim that may come
before them for settlement later on.
In the light of the IMD forecast, ICICI Lombard, one of India’s largest private general insurance companies has set up a special help desk with the aim of providing immediate support and assistance to claims related to cyclone ‘Biparjoy’. The help desk is available 24*7 to guide and facilitate a seamless claims settlement process during this difficult time.
In the light of the IMD forecast, ICICI Lombard, one of India’s largest private general insurance companies has set up a special help desk with the aim of providing immediate support and assistance to claims related to cyclone Biparjoy.
The help desk is available 24*7 to guide and facilitate a seamless claims settlement process during this difficult time.
Talking to Bizz Buzz, Karn Thakuria, Head Partnerships, Risckovry, says: “Claims are the moment of truth for insurance. This is when trust is built or lost. Parametric products are designed such that the insured has complete transparency on claims being triggered, and the
quantum of payout.”
Moreover, the experience is further enhanced by auto-triggered claims and immediate settlement, helping not just insurers, but the industry in building trust with the customer, he said.
SBI General Insurance has urged its customers to stay safe and take precautionary measures to safeguard their lives and protect their loved ones. The atmospheric depression in the Arabian Sea has intensified into ‘cyclonic storm – Biparjoy’.
As per reports of the IMD (India Meteorological Department), the cyclone is presently travelling towards the coast of Gujarat and is likely to make a landfall on evening of June 15 near Jakhau Port in Kutch district. In addition to heavy cyclonic winds, the cyclone may also cause heavy rainfall at Kutch region, Devbhumi Dwarka, Porbandar, Jamnagar, Rajkot, Junagadh and Morbi districts.
Sailing Through
• It facilitates a seamless claims settlement process
• SBI General Insurance established a task force to manage queries and claims on fast-track mode
• It initiated Express Claims settlement for losses of up to Rs10 lakh for affected customers
