How has the claims process evolved over the years?
It is believed that claim settlement process is long and tricky. However, this is not the case anymore, following are the reasons :
IRDAI (Insurance Regulatory and Development Authority of India) has set the timelines for insurance companies to settle the claims.
Now, all the necessary documents are collected at the onboarding time of the customer. This reduces the time of document collection at the time of claim settlement.