Canara HSBC Oriental Bank of Commerce Life Insurance started Immediate Payouts on Death Claim's, which aims to provide the fund value to the family of the deceased immediately after the claim
Online revival of insurance policy enables customer to reinstate a lapsed policy and pay their premium online.
We started dispatching digital policy document along with paper policy document, as maintaining an electronic policy for the contract term is relatively more convenient.
The Company employed 'Straight Through Processing' (STP). This process filter applications that can be sent for issuance without requiring any manual underwriting, resulting in faster issuance of policy by 1.5-2 days