| S.No |
SERVICE |
DESCRIPTION OF ITEM OF SERVICE |
Regulatory Turnaround Time |
| 1. |
New Business Proposal Processing |
Processing of Insurance Proposal and Seeking further requirements for consideration of the proposal |
7 days |
| Decision on proposal from the date of receipt of proposal or from the date of receipt of additional requirement whichever is later |
| Providing copy of the policy along with the proposal form |
15 days |
| 2. |
Post Policy Service Request |
Post Policy Service Requests concerning mistakes / corrections in the Policy document |
|
| 3. |
Policy Servicin (from the date of receipt of request for the service specified) |
Change of Address (KYC Norms to be complied) |
|
|
Registration /Change of Nomination, Assignment. |
7 days |
| Alteration in Original Policy conditions (where applicable) |
| Change of location of risk |
| Inclusion of new member in case of group policies |
|
Any other non-claim related changes |
|
|
Cancellation of policy and refund of premium |
|
|
Appointment of Surveyors (through Tech based solution) |
24 hours |
| 4. |
Claims |
Submission of final report after receiving Insurer’s request |
15 days |
| 5. |
|
Communicating acceptance or rejection of the claim |
7 days |
| 6. |
Auto Action by the Insurer |
Premium Due Intimation |
One month before due date |
| 7. |
Complaints |
Acknowledge to complaint |
Immediately |
| Action on Complaint & Intimation of Decision to the complainant |
14 days |
| If complaint is NOT resolved by the Insurer, communicate the details to the Policyholder of options including referring the complainant to Insurance Ombudsman / Consumer Court |
14 days from original date of receipt of complaint. * |
