ICICI's InstaSpect settles over 10L insurance claims virtually

New Delhi: ICICI Lombard General Insurnace (ICICI Lombard) on Thursday said its virtual assessment-based motor claims approval facility has settled over 10 lakh cases since its launch in 2018.

The DIY (Do-it-yourself) feature InstaSpect is the part of company's IL TakeCare app. The customers can live stream the damage to the insurer, eliminating physical survey. It brings down the claim approval time to a few hours, ICICI Lombard said. The feature has gained tremendous acceptance among motor insurance customers and reached the milestone of more than 1 million motor insurance claim approvals since its launch, a company statement said. Due to pandemic-driven social distancing, agents and surveyors found it difficult to travel. InstaSpect was the easiest way to settle motor insurance claims seamlessly and instantly. Interactive elements such as instant survey on live video call assisted by claims manager and query resolution in real-time have significantly contributed to the app feature's popularity, said the company. The claimant gets a rough estimate of the damage and liability, and further directed to the nearest network garage.

Acknowleding the distressing event of a crash and dealing with repairs and claim approval as daunting process, ICICI Lombard Head of Motor, Underwriting and Claims, Amitabh Jain said InstaSpect gives an instant solution to customers and is very easy to use. ICICI Lombard said IL TakeCare app is one-stop solution for motor, health and wellness needs of customers.