Policybazaar Working With Partners To Fast-Track Assam Flood Insurance Claims

Insurance aggregator PolicyBazaar on Tuesday said it was working closely with its partners for expeditious settlement of insurance claims by flood-hit people in Assam.

It also welcomed the Insurance Regulatory and Development Authority of India's (IRDAI) directive to fast-track claims from the worst-hit districts of the northeastern state.

At least 101 people have died, and over 1.26 lakh have been affected by floods in the state so far this year.

"Floods in Assam have upended lives, and for many families, this means facing tremendous loss with no time to prepare for paperwork. This is the kind of unpredictable moment that insurance exists for, and it is our prerogative to make sure no policyholder in Assam is left waiting at a time like this," Amit Chhabra, chief business officer, General Insurance, PolicyBazaar, said.

He said PolicyBazaar was working closely with insurer partners to keep documentation simple, settle claims quickly and bring relief to people without delay.

Commending IRDAI’s directive on fast-tracking claims, Chhabra maintained that it was a much-needed measure for the affected families.

The Assam government had earlier decided to approach the insurance companies for expeditious and hassle-free settlement of claims by people from the worst-hit districts of Sivasagar, Charaideo, Jorhat and Golaghat.

It also held a meeting with representatives of the insurance companies, with the central government also issuing special instructions to the companies to dispose of the claims faster.

In line with this, the IRDAI also issued directives to all insurers, including life and standalone health insurance companies, to mobilise all resources to ensure immediate service response to those affected by the Assam floods.