Insurance Companies Simplify Claim Settlement Process For Odisha Train Accident Victims

In the wake of the tragic train accident in Odisha, several insurance companies have come forward to simplify the claim settlement process for the affected individuals and their families.

According to a June 5, 2023 Irdai press statement, "there is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims."

Irdai has ordered insurers to take these immediate actions to expedite the settlement of all claims and to submit details as instructed. Many insurers have stepped forward to assist people and families affected by the Odissa railway tragedy and have streamlined the claim process; here are a few examples.

Life Insurance Corporation (LIC)

To assist impacted families, LIC has given discounts to alleviate the burdens of policy claimants as well as beneficiaries of the Pradhan Mantri Jeevan Jyoti Bima Yojana.

To answer to claim-related questions, the corporation has also established a separate support desk and a call centre number (022-68276827) at the divisional and branch levels.

ICICI Prudential Life Insurance

ICICI Prudential Life Insurance has stated that it will expedite claim settlement in order to provide financial assistance to people affected by the tragedy. According to the insurer, death and health claims, including those covered by the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), will be processed with only three basic papers.

Documents required:

• Account details
• Municipal authorities issued a death certificate.

If a death certificate is not available-

• List of deceased passengers issued.
• A copy of the nominee's address proof

The company has established a dedicated 24X7 hotline number (1-860-266-7766) to assist with claim-related inquiries.

Bajaj Allianz Life Insurance-

Bajaj Allianz Life Insurance has launched a special initiative to expedite the processing of death and disability claims for clients affected by this catastrophe.

According to the press release, "Bajaj Allianz Life Insurance has undertaken a dedicated initiative to prioritize the processing of death and disability claims for its customers impacted due to this incident. With utmost urgency, an expeditious process has been established to swiftly settle these policy claims."

The company has taken measures to simplify the claim process by reducing the documentation requirements. In order to expedite the claims, nominees, legal heirs, or policyholders are only required to submit the essential documents as specified by the company.

Modes to assist for easy claim settlement process-

• Call the company's toll-free helpline number at 18002097272.
• Visit one of the 510+ branches around the country
• send an email to [e-mail].

The company is also attempting to receive a list of the deceased from the relevant authorities and will make extra efforts to reach out to the affected families on a proactive basis.