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.