Insurance companies ease settlement norms for Uttarakhand victims
04 Jul, 2013 10:10 AM
Life insurance companies are relaxing the norms to ensure faster and easier claim settlement for the victims of Uttarakhand floods.

Bajaj Allianz Life Insurance head - technical P Ravi Kutumbrao said, "We have relaxed our claim settlement process to ensure speedy financial relief to the victims' families. We have liberalised our procedures and waived certain conditions like documentation and investigations. Our priority is to be sensitive to our customers and make the process hassle-free."

According to the National Disaster Management Authority, so far 580 people are known to have lost their lives and up to 3,700 are missing after the flash-floods and landslides in Uttarakhand.

Besides seeking confirmation from Uttarakhand authorities, Bajaj Allianz is asking for photograph of the deceased and KYC of the nominee or legal heir.

HDFC Life SVP (Underwriting, Claims and Operations) Frederick Dsouza said, "We are committed to speedy settlement of claims and have rolled out fast-tracking claim settlement process."

The company will process claims on receipt of a duly completed claim form, attested death certificate from local municipal corporation, hospital or police, and identity and residence proof of nominee or beneficiary, he said.

The firm has also set up a dedicated helpdesk to support the claimants at various stages of the settlement process.

Besides, HDFC Life is also trying to obtain the list of the disaster victims in order to reach out to the claimants and offer claim assistance.
Source : The Times Of India

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