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Car Insurance Claims In The Digital Era

Remember the days where you ran from pillar to post to claim your car insurance? It must have been a very stressful experience. Thanks to the digital revolution, In the recent past, things have changed significantly in auto insurance. Filing a car insurance claim is no more a tedious task. Insurers have taken the policyholders’ hardships into consideration and have made the claim process fast, simple and stress-free using technology. You can now file a claim from anywhere, anytime through an online portal or an app. Cholamandalam car insurance even offers a live video streaming option for making an instant claim.

Let’s see some of the benefits of digitizing car insurance claims.

Better Customer Experience

Most of the policyholders who have used digital platforms for filing their claims will vouch for the fact that filing claims online is faster, convenient and more transparent compared to offline channels. Earlier, a policyholder had to visit the branch of the insurance company to submit a claim. Now they can file a claim at the comfort of their home or office.

Quicker Processing Through Automation

Many insurance companies have made the entire claim process automatic to reduce the processing time. Right from verifying the genuineness of the claim to scrutinizing the claim documents, everything has been made automatic with the help of Artificial Intelligence and Machine Learning. Even the claim account gets directly transferred to the beneficiary’s account.

Easier To Track The Status

Digital not only allows filing claims but also helps to track their progress. Instead of visiting the branch office or calling the customer care, the policyholder can directly get the status of his/her claim through a click of a button.

Things seem to be even more interesting for car insurance claims in the future. All cars are likely to have telematics (subject to regulatory approval) similar to what we see in modern-day cars like Tesla. The system will capture your driving behaviour, routes, etc... and send information to your insurer. Some of the technologies include:

● Global Positioning System (GPS) - For knowing the location and speed

● Accelerometer Data - For ascertaining the impact severity

● Gyro Data - For ascertaining vehicle rotational movement

● Course Over Ground - For ascertaining vehicle directional change

In the event of an accident, the insurer will have access to all critical information including the time, place and the speed of the vehicle during the accident. This helps the insurer to learn more about the circumstances that caused the accident and assess the genuineness of the claim.

Let’s explain this with an example, Mr.Kumar’s car suffered a rear-end collision with another vehicle on a highway. The car’s telematic automatically sends the crash data to his insurer. The insurer calls Mr.Kumar, registers a claim and arranges for a tow truck or a replacement vehicle. Mr.Kumar will receive a message from the insurer to upload the photos of his damaged vehicle through a web link. The insurer now analyzes the data received to process the claim. The damage will be calculated and the payment will be made to the workshop directly by the insurer. Yes, it is as simple as that!

To sum up, the digitization of car insurance claims is a win-win for insurance companies as well as the policyholders. It reduces the cost and closure time for the insurance companies and saves a lot of time and effort for the policyholders. Visit Cholamandalam car insurance for hassle-free car insurance.




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