Max Life Insurance introduces ‘Instaclaim’ for faster and easier claims approval

India Infoline News Service | Mumbai | November 16, 2016 15:57 IST

As the name suggests, ‘Instaclaim’ will provide claim approval to Max Life customers in case of eligible policies within one day from the receipt of the claim with necessary documents.

Max Life Insurance, one of India’s leading non-bank promoted private life insurers, a joint venture between Max Financial Services Ltd and Mitsui Sumitomo Insurance Co. Ltd, sets a new benchmark with its initiative – “InstaClaim”, to enhance overall customer experience. As the name suggests, ‘Instaclaim’ will provide claim approval to Max Life customers in case of eligible policies within one day from the receipt of the claim with necessary documents. 
 
Commenting on the initiative, Rajesh Sud - Executive Vice Chairman and Managing Director, Max Life Insurance, said, “InstaClaim is yet another initiative by Max Life Insurance to stand out as a customer centric company. This initiative will ensure that the loved ones of our policy holders get a quick, simple and hassle free claims services in one day during the time of their utmost need. 
 
Through this initiative, we endeavor to communicate claim approval decision to the nominee within 1 day of intimation in eligible cases. Max Life Insurance achieved claims paid ratio of more than 96% in the FY 2015-16 as per the public disclosures”
 
Instaclaim will be available to registered beneficiary in all eligible policies which have completed 3 or more continuous years, in which claim amount is less than Rs 25 lakh and claim does not warrant any field verification. Necessary documents shall be submitted before 3 pm on any working day from Monday to Friday in any of Max Life offices. 
 

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