IFFCO Tokio General Insurance launches Quick Claim Settlement Solution
Published: Sep 21, 2017
By TIOLCORP News Service
NEW DELHI, SEPT 21, 2017: Indian Farmers Fertilizer Co-operative (IFFCO) Tokio General Insurance launched a new Quick Claim Settlement (QCS) for Motor Own Damage (OD) Claims here today. QCS will enable the Company to settle claims of upto Rs. 20,000/- of private car customers and release the settlement amount within 30 minutes, directly into the customer's bank account.
QCS has been built on a hybrid mobile application which can work on both ios and Android platform, along with video upload. This project is an end-to-end automated system. It has a real-time integration with the company's back-end system involving in verification of insurance policy, vehicle details and customer identity. The assessment of loss and communication thereof with the customer is through the mobile app.
The customer has to register the claim with the QCS team through the company's call centre. The documents, photographs and video of the damaged car would also be uploaded by the customer through a mobile app. Once the claim is approved, the claim amount would be digitally transferred to the customer's bank account within 30 minutes.
Customers may then get their vehicles repaired at the workshop of their own choice, and as per their own convenience. The entire claim process will work seamlessly, and in case the customers don't accept the offer then they will be routed to the nearest preferred garage from where the traditional claim process will be followed.
Speaking about this scheme, Mr. Warendra Sinha, Managing Director & CEO, IFFCO Tokio General Insurance Co. Ltd., said that the claim settlement has always been in focus area. The traditional claim settlement process followed in motor insurance is now fast becoming a thing of the past and in order to keep up with best service standards.
The claim settlement solution will help the company in reducing their claim settlement expenses, since it does not require any physical survey of the accidental vehicle. Currently QCS is available for private car owners and gradually the company plans to extend this to two wheelers as well.
