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Home / Policy Services / Settlement of claims

Settlement of claims

Introduction :

Every agent has a duty to perform towards his clients who have taken insurance policies through his agency. The duty begins as soon as a policy is issued and ends when the claim is settled. During this period the agent is expected to meet his policyholders and help them to get whatever service desired from the Corporation quickly in respect of the policies sold. He should take particular care to see that during currency of the policy 

• Change in address of the Policyholder is promptly intimated to the Branch Office.
   
• Age of the assured and 
  
  
• The policy is nominated or assigned. 

However, the best opportunity which an agent gets to serve his policyholders arises when the policy results into claim by Death or Maturity. The agent has to help the policyholders in complying with the requirements quickly so that there is no delay in settlement of claims. If the agent gives ‘After Sales Service’ to his clients satisfactorily, he will create a goodwill for himself in the minds of his clients and also improve his chances of getting additional business. Besides he will improve the image of the Corporation in the eyes of public.

An agent should know among other things the various requirements for settlement of claims by death and claims by maturity in order to serve his policyholders in a better way.  

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