Claims Settlement Faster Than Ever

Life insurance policies offer a host of benefits, like long term savings, tax exemption, guaranteed income and flexible withdrawals, depending on the type of policy. The most important being the life cover in case of an untimely death, which in the life insurance industry is the moment of truth. The COVID-19 pandemic has been a decisive point for the industry. Apart from increasing awareness among customers on the importance of adequate cover, it has also propelled the industry towards faster adoption of digital tools. With the onset of this digital era, life insurance companies are reinventing themselves and looking at making their processes more straightforward and customer-friendly. From AI (artificial intelligence) to chatbots to WhatsApp based services, there are a host of advancements happening on the digital side to simplify customer services. Turnaround time (TAT) plays a...