Now Bajaj Allianz General Insurance customers can experience enhanced services as the company launches not one, but three new digital initiatives to aid travel insurance, motor insurance and other customer queries in real time.
Travel Ezee: In a first in the Indian insurance industry, the company has leveraged on the power of Blockchain technology for its new application Travel Ezee, allowing customers to buy travel insurance by simply clicking a photo of their ticket. Also, in case of flight delays, the app will act proactively and notify the customer on their payout eligibility. All the customer has to do is click on the app notification to invoke the application and fill in the account details and the claim amount will be disbursed within minutes. To avail this service the customer will have to register their flight details online on the company’s website or on the company’s self-service customer app – Insurance Wallet. If the policy has been purchased using Insurance Wallet, the flight details are captured as a part of the buying process. With the help of a smart contract and singular truth source, the company will work out the delay and settle the claim within minutes on the receipt of account details from the travel insurance policyholder.
Launching the new mobile app, Bajaj Allianz CEO Tapan Singhel said, "We have used blockchain's distributed ledger technology to automate settlement of travel insurance claims related to flight delays even before the claim is reported. We have partnered with a third-party travel aggregator to get real-time data on flight timings for every city, every location in the world."
While claims normally take 3-4 days to settle, with Travel Ezee they are vouching for a turnaround time as short as 20 minutes.
Motor on the Spot: This facility will enable customers to register as well self-inspect their motor insurance claims of up to Rs 20,000 within 30 minutes instead of the usual 7-8 day turn-around time. This facility is currently available only for private car owners.
"With this app, vehicle users can just click pictures of the damaged vehicle, their driving license, FIR copy on their mobile phone and sent it to us with the insurance policy number. Using our data analytics we give an immediate quote to the customer — say Rs 6,500 for a damaged door. If the customer is happy with the quote he can agree and get an immediate settlement. If he is not then he can disagree, and our surveyors, customer service representatives will get in touch with him," said Singhel.
As per data available, a majority (70%) of motor claims received by Bajaj Allianz fall within Rs 20,000 — so the company has currently made the service available for minor claims within Rs 20,000. Regulator IRDAI actually permits self-assessment of vehicle damage up to Rs 50,000. If this takes off in a few months, maybe next year we could think of increasing the limit to Rs 50,000." added Singhel.
Boing: The insurer also launched an Artificial Intelligence driven Chatbot service platform called “Boing”, to offer 24/7 customer assistance and instantly respond to the following customer queries:
- Register a motor claim
- Get policy soft copy
- Check policy status (Motor & Health)
- Check claim status
- Locate Branch, Hospital and Workshop
Customers can access these digital services through Bajaj Allianz General Insurance Company website and through their mobile app Insurance Wallet. Chatbot is accessible through the company’s official Facebook Messenger.