Bajaj Allianz Life Insurance Technical Head Mr. P. Ravi Kutumbrao announced the relaxation in claim settlement process for the victims of Uttarakhand flood victims. Under the new guidelines company will set up a special task force that will settle the cases within 72 hours.
In addition to the above, company has also rationalized the normal process of claim settlement by way of lowest amount of documentation so that claims can be settled faster. The company would also settle the claims based on a substantiation of death received from a local authority or government of Uttarakhand or from the armed forces involved in the rescue operation.
Further, broad inquiry would also be relinquished if prima facie the documents certify that policy holder died in Uttarakhand floods. Claimant should only have to provide the photograph of the deceased and the Know Your Clients (KYC) of the nominee or legal heir.
Mr. P. Ravi further said that, Company’s first and foremost priority is to be aware of the sensitivities of the customers and make the process cumbersome free.
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited and Allianz SE. Bajaj Finserv Limited holds 74% of the share capital and the remaining 26% of the share capital is held by Allianz, SE. The Company commenced its operations as on 2nd May 2001 and has a paid up share capital of Rs. 110 crores.