Insurtech Brand Policybazaar.com Launches Self Video Cashless Claims Feature for Motor Insurance


11 September 2018, India:

Insurtech brand  Policybazaar.com has launched a new version of self-video cashless claims feature on its app for easy and faster claims processing & settlement.

Public Sector Insurers, New India Assurance and United India Insurance, have been the first ones to adopt the new feature and have joined hands with PolicyBazaar.com to offer consumers’ settlement of accidental claims through this feature using the Policybazaar.com app.

The new feature allows consumers to overcome the hassle of physical inspection for claims and allows them to self-upload a video through the app for evaluation of damages on a vehicle, making the entire inspection process a matter of minutes and the approval process a matter of few hours.

“Customer-centricity is ingrained in the DNA of our organization’s ethos. Continuing on our journey to make insurance a seamless experience we have launched this new PB Claims feature. The app is expected to reduce the timeline of approval/ non-repair timelines from two days to two hours,” said Mr. Yashish Dahiya, Co-founder & CEO, Policybazaar.com Group of Companies.

“We are a leading non-life insurer which keeps abreast of the latest technology trends with the objective of leveraging them to enhance our customer service levels. We at United India are very happy to pioneer a video app exclusively developed for motor vehicle damage claims. We laud the first of its kind customer-friendly initiative of Policybazaar.com in this regard. This initiative will have the twin benefits of fast turnaround times in claims settlement and making life easy for the customer,” said Mr K B Vijay Srinivas, CMD (Joint in Charge) at United India Insurance.

The feature also provides with real-time updates to customers on the progress of their claims, which can be tracked through ‘my account’ section on the Policybazaar.com website or App.

To further strengthen the process, the company is also running a pilot on Artifical Intelligence (AI) being used to assess the estimate of the damage and quotation of repairs, which was earlier being provided only by the garage.

Policybazaar offers buyers opportunity to compare and choose insurance policies.

(Image – Policybazaar)