HT Syndication
Gurugram (Haryana) [India], August 13: In a bid to raise awareness around claims process in insurance, Policybazaar organised the third edition of its exclusive event ‘Insurance Ka Superhero’ in Gurgaon. The event saw Policybazaar’s customers in attendance who narrated first-hand experience of their disputed or rejected claims and how Policybazaar’s team helped them get approved. These customers felicitated the advisors who came to their rescue in the hour of need. Not just this, the event also highlighted a few instances where Policybazaar helped people who were not even the brand’s customers and got their claims approved.
Sarbvir Singh, CEO, Policybazaar, addressed the audience and shed some light on the importance of quick and effective claims assistance during the moment of distress. He said, “Behind every claim lies a story of a family battling an unfortunate situation, hospitalisation and huge medical bills. Insurance can at least take care of the financial part during this moment and that can only happen if the claim process is smooth and quick. We understand this pain point and look at every claim from the consumer’s lens.”
Policybazaar’s industry-first initiatives like the ‘Claim Samadhan Diwas’ for face-to-face interaction between insurers and customers, help facilitate instant claim approvals. The company has conducted 15 such events, where customers have got their initially rejected claims cleared. The brand’s 24*7 claims support system is equipped to handle over 1000 calls on a daily basis and provide on-ground support in over 170 cities.
Sai Narayan, CMO of Policybazaar, also addressed the audience, highlighting how Policybazaar has transformed health insurance claims since its inception by taking end-to-end ownership of the process. This was followed by Jitin Jain, Head of renewals and customer service at Policybazaar speaking about claims being the most critical point in a policyholder’s journey and also the reason to invest in insurance in the first place. Policybazaar is not only proud to have successfully processed claims amounting to over Rs 400 crores, but also helped restore customer’s faith in insurance by helping get rejected claims reviewed and processed. The company’s commitment to ensuring fair settlements is quite visible through its review or reopening of over 4000 disputed claims, which has resulted in Rs 24 crores of additional settlements.
Prathap Sutan, a policyholder who was not a Policybazaar customer, shared his experience of the team’s dedication in helping get his claim approved simply because he reached out to them through acquaintances. Policybazaar’s customers who had a similar experience echoed this sentiment and thanked the advisors who went beyond the line of duty to help them.
Customers get real-time updates on their policy issuance status via the app, WhatsApp or email. Starting from initial call to the final settlement, Policybazaar assists customers with document collection, on-ground support at hospitals and much more. Not just technology, the company also understands the significance of human connection in something as personal as an insurance claim. Customers get round the clock support with a team of 800 advisors available to address any queries or concerns effectively. The advisors actively seek customer feedback through various channels, including social media and post-call surveys, to drive improvements and ensure a streamlined approach. They also conduct pre-renewal check-ins to ensure customer satisfaction and address any potential issues.
As India’s financial services market expands rapidly with insurance becoming a key component of financial planning, Policybazaar is committed to staying ahead of the curve and empower customers in making well-informed insurance decisions.
Policybazaar (www.policybazaar.com)
Policybazaar.com is one of India’s leading online insurance platforms. It is the flagship platform of PB Fintech, which owns the fintech brand, Paisabazaar.com, and the lending & insurance marketplace in the UAE region, Policybazaar.ae. The Policybazaar.com group has backing from a host of investors including the likes of PE funds and other family offices. Policybazaar.com started with the purpose to educate people on insurance products and with its offerings has addressed the large and highly underpenetrated online insurance markets.
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