Motor Insurance: Road accidents remain a serious problem in India. In 2023, more than 1.73 lakh deaths and more than 4.63 lakh people were injured in road accidents across the country. In such a situation, motor insurance is not only a legal obligation but also a safety shield. It helps in maintaining financial stability after an accident
Motor Insurance : Road accidents remain a serious problem in India. In 2023, more than 1.73 lakh deaths and more than 4.63 lakh people were injured in road accidents across the country. In such a situation, motor insurance is not only a legal obligation but also a safety shield. It helps in maintaining financial stability after an accident. However, the traditional insurance claim process is often difficult and time consuming. Earlier long waiting periods, paper work and visiting the offices of insurance companies made it difficult. But now online claim settlement is bringing a big change in the area of ​​​​motor insurance. This has brought relief to the policyholders.
How has the changed digital process made claim settlement easier?
Imagine you are a victim of a road accident and your vehicle is damaged. Earlier, you had to report it, fill in a lot of forms and make several visits to the insurance company’s office. Claim settlement used to take days or weeks. But now the online process has made it easier. You can complete the entire process in just a few clicks right from your smartphone.
- File an accident report.
- Photos of the damaged parts of the vehicle and photos of important documents such as registration certificate,
- Upload driving licence photo.
- The insurance company will process the claim digitally.
- You will be suggested to the nearest network garage where repairs can begin immediately.
To promote digital reforms in the insurance sector, the Insurance Regulatory and Development Authority (IRDAI) has issued several new guidelines in 2024. In these, insurance companies have been mandated to provide fast and transparent digital solutions.
New rules made in motor insurance reforms of 2024
- Claim settlement is mandatory within 7 days of the survey report.
- Surveyor appointment within 24 hours.
- Damage assessment through AI and data analytics. This makes online claim settlement faster, safer and more reliable.
Benefits of online claim settlement
- Time savings – No long waiting lists, digital process helps in faster claim settlement.
- Transparency – Customers can track the status of their claims and interact with the insurance company through the digital platform.
- Process made easy – The entire claim settlement can be done from home, which saves both time and energy. Online claim settlement in motor insurance is no longer just a trend but has become a necessary change. This is not only providing relief to customers, but insurance companies are also rapidly adopting this process.
