Insurance Claim Turnaround Time

Sr.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 Servicing (from the date of receipt of request for the service specified)	Change of Address (KYC Norms to be complied)	7 Days
		Registration /Change of Nomination, Assignment.
		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
4	Auto Action by the Insurer	Premium Due Intimation	One month before due date

Activities	Target Timeframe
Written acknowledgement of grievance to a complainant	Immediately
Seek and obtain further details, if any, from the complainant (permitted only once)	One week
Resolution of grievance and issue of final letter of resolution	Two weeks
Closure of grievance on non-receipt of reply from the complainant	Eight weeks

Health Claim TAT

Description	Turn Around Time
Surveyor appointment	within 24hrs from Claim Intimation
Survey Completion	within 24hrs of Surveyor appointment
Surveyor report submission	within 15 days from Date of Survey
Settlement / Claim decision	within 7 days from date of receipt of surveyor report
Claim Payment to Insured in case of NonCashless	30 days from the receipt of Last Document