Insurance claim notice

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Insurance Claim intimation/notification/Notice
The claimant must submit the written Notice as soon as possible to enable the insurance company to initiate the claim processing. The claim Notice should consist of basic information such as policy number, name of the insured, date of death, cause of death, place of death, name of the claimant.
The claimant can also get a claim Notice /notification form from the nearest local branch office of the insurance company or their insurance advisor/agent. Alternatively, some insurance companies also provide the facility of downloading the form from their website.

Process for Insurance claim:
1. Documents required for claim processing
The claimant will be required to provide a claimant’s statement, original policy document, death certificate, police FIR and post mortem exam report (for accidental death), certificate and records from the treating doctor/hospital (for death due to illness) and advance discharge form for claim processing. Based on the sum at risk, cause of death and policy duration, insurance companies may also request some additional documents.|
2. Submission of required documents for claim processing
For faster claim processing, it is essential that the claimant submits complete documentation as early as possible. A life insurer will not be able to take a decision until all the requirements are complete. Once all relevant documents, records and forms have been submitted, the life insurer can take a decision about the claim.
3. Settlement of claim
As per the regulation 8 of the IRDA (Policy holder’s Interest) Regulations, 2002, the insurer is required to settle a claim within 30 days of receipt of all documents including clarification sought by the insurer. However, the insurance company can set a practice of settling the claim even earlier. If the claim requires further investigation, the insurer has to complete its procedures within six months from receiving the written intimation of claim.

For example stolen of vehicle claim process:

FIR: The insured must lodge the First Information Report (FIR) with the police immediately.

Claim form: The insured should call the customer service centre of the insurance company and fill the claim form, giving information like the policy number, vehicle details, as well as the date, time and description of the incident.

Documents: Submit the duly signed claim form, copies of the registration certificate (RC) of the vehicle, driving licence, policy document (first two pages), the FIR and a letter addressed to the RTO intimating theft.
Approval, settlement: After the police submits its final ‘nontraceable report’ and the claim is approved, the insured must transfer the RC of the stolen vehicle in favour of the insurance company, hand over all sets of keys and give a letter of subrogation to the insurance company.

Reimbursement: The insured must submit the original repair invoice and payment receipt to the insurer. The amount approved as per the surveyor’s report will be reimbursed within seven working days.