Policybazaar unveils cashless claim settlement of motor cover

Motorists can opt for claims’ approvals across all garages

Policybazaar.com, an insurance comparison portal, has launched a new initiative to help its motor insurance customers get ‘assured cashless settlements’ at the time of claims.

Called cashless assurance, the new initiative allows customers to opt for cashless approvals of claims across all garages in India within few hours.

Select network

In the past, this service had been provided through a select insurer of network-garages. With the latest initiative of Policybazaar, policyholders can avail this service at any garage across the country without paying the money upfront and filing for reimbursement thereafter. Insurers such as New India Assurance Co., The Oriental Insurance Company, IFFCO Tokio General Insurance and DHFL General Insurance have partnered Policybazaar.com to offer customers easy access to cashless settlement options, according to a statement.

Customers would be provided cashless settlement of motor claims through a centralised process/video app, said the statement.

“Policybazaar has been an agent of change in the insurance industry with technology being a key driver for us. We strive to make this new initiative a boon for all policyholders and thereby keep our user’s life hassle-free,” said Yahish Dahiya, co-founder and CEO, Policybazaar group of companies.

Policybazaar’s spot claims’ service of three-day repair assurance along with pick-up and drop service has now been expanded to 20 cities from 5-6 cities earlier. It is expected to be available throughout the country within the next six months.