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 the accident. However, the traditional insurance claim process is often difficult and time consuming. Earlier, long waiting periods, paper work and visits to 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 policyholders.
How has the changed digital process made claim settlement easier?
Imagine that you have become a victim of a road accident and your vehicle has been damaged. Earlier, you had to report it, fill a lot of forms and make several rounds of the insurance company’s office. Claim settlement used to take several days or weeks. But now all this has become easier with the online process. You can complete the entire process in just a few clicks right from your smartphone.
Register an accident report.
Upload photos of the damaged parts of the vehicle and photos of necessary documents such as registration certificate,
driving license.
The insurance company will process the claim digitally.
You will be suggested the nearest network garage, where repairs can be started 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 2024
- Claim settlement is mandatory within 7 days of survey report.
- Appointment of surveyor 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 more long waiting lists, digital process is making claim settlement faster.
Transparency – Customers can track the status of their claims and communicate with the insurance company through digital platforms.
Process simplified – The entire claim settlement can be done from home, saving both time and energy. Online claim settlement in motor insurance is no longer just a trend but a necessary change. This is not only providing relief to customers, but insurance companies are also rapidly adopting this process.
