Digital Insurance Platform
Digital Insurance Platform
Digitization in Insurance refers to the use of digital technology to enhance process, products and services to customers. Digital Insurance allows customers to avail policies instantaneously and also manage their insurance policies in terms of claims and online renewals without need for traditional manner.
Keeping customer’s preferences at the foremost, Bank introduced “IB Digital Insurance Platform” for availing insurance products with complete information including terms and conditions are readily available and also convenience of anytime, anywhere and instant decision making / policy issuance option availability.
Presently, Motor Insurance – Two-Wheeler & Four-Wheeler (Private Vehicles only) journey made available for customers through Internet Banking, IndSMART and Branch Assisted Journey. All our three General Insurance Partners i.e. M/s. USGICL, M/s. UIIC and M/s. Chola MS offering Motor Insurance through Digital Platform.
Health Insurance, Life Insurance and other General Insurance products will be available soon in the Digital Insurance Platform.
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Online Two-Wheeler & Four-Wheeler Insurance |
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| HOW CAN I APPLY FOR 2W/4W INSURANCE? | The applicant can apply for Online Insurance through our IndSMART application & Internet Banking. IndSmart You can login to your IndSmart mobile app and click on Insurance option under Quick Links on the Home Page. Internet Banking You can login to your Internet Banking and click on Apply for Insurance option under Value added services on the Home Page. |
| DO I NEED TO HAVE ANY ACCOUNT IN INDIAN BANK FOR APPLYING ONLINE INSURANCE? | Yes, to apply for insurance an applicant should have an account with us. |
| DO I NEED TO VISIT THE BRANCH FOR APPLYING ONLINE INSURANCE? | The Online Insurance is straight through process & the customer can avail the facility through our Mobile app IndSMART / Internet Banking, but in case of assistance customer can contact his/her Home Branch/Nearest Branch for availing the services. |
| WHAT ARE THE INSURANCE COMPANIES ARE PROVIDING THE SERVICES THROUGH DIGITAL INSURANCE PLATFORM? | All our General Insurance Corporate Agency Channel Partners (Universal Sompo Gneral Insurance Co Ltd, United India Insurance Co.Ltd and Cholamandalam MS General Insurance Co.Ltd) are providing the Motor Insurance services through the Bank’s Digital Insurance Platform as well as through our Bank’s Branches. |
| WHAT ARE THE PRODUCTS AVAILABLE UNDER MOTOR INSURANCE | Rollover Insurance – Renewal of any Insurance company polices to our channel partners. Renewal Insurance – Renewal of USGICL, UIIC and Chola MS Motor Insurance policies. Fresh Registration – Insurance policy for new vehicles. |
| HOW TO CHOOSE INSURER? | Customers are free to choose the insurer as per the real-time benefits illustrations from all our Channel partners along with quote comparison etc., |
| WHAT ARE THE MAJOR COVERS UNDER THE POLICY? | 1. Loss or Damage to the Insured Vehicle caused due to: a.) Fire, explosion, self-ignition or lightning.b) Burglary, housebreaking or theftc) All act of God perils like earthquake, flood, cyclone etc.d) Accidental external means, terrorism, riot and strikee) Additional Coverages/options as per the coverages availed 2.Liability to Third Parties: Provides cover for any legal liability arising out of the use of the vehicle for a) Accidental death / injury to any third party b) Any damage to property owned by third party |
| WHAT ARE THE MAJOR EXCLUSIONS OF THE POLICY? | a) General aging, wear & tear, mechanical or electrical breakdown, failure, depreciation any consequential loss b) Damage by a person driving without a valid license c) Damage by a person driving under the influence of liquor or drugs d) Loss/damage attributable to war, mutiny, nuclear risks e) Damage to tyres and tubes, unless damaged during an accident f) Loss or damage resulting from overturning arising out of operation as a tool (applicable for mobile cranes, drilling rigs, mobile plants, navvies, shovels, grabs, rippers unless opted for additionally) g) Loss of or damage to accessories by burglary housebreaking or theft unless the vehicle |
| WHAT IS NO CLAIM BONUS (NCB)? | NCB is provided by insurer for every claim free year basis the slab as provided by Tariff as per the policy terms and conditions. |
| WHICH ARE THE OPTIONAL COVERS AVAILABLE IN THIS POLICY? | a) PA Owner Driver b) Legal Liability to Paid Driver c) Key Replacement d) Return to Invoice e) Electrical/Non Electrical Accessory f) Engine Protector g) Nil Depreciation |
Disclaimer . Insurance is the subject matter of the solicitation. . Indian Bank is only a Corporate Agent under the license number CA0108 to Insurance companies and it does not underwrite the risk or act as an insurer in any case. . The insurance policies are subject to the terms and conditions laid out by Insurance company. . Customers are advised to Read the Proposal Form Completely for Full Description of the Terms and Conditions of Coverage and the Exclusions Relating Thereto before concluding a sale. Purchase of any insurance products by a Bank's customer is purely voluntary and is not linked to availment of any other facility from the bank. . Purchasing insurance is a contractual agreement between the customer and the Insurance Company. Bank is acting as a corporate agent only and is not responsible for the underwriting, claims, or the terms and conditions of the insurance policies.
( Last modified on Nov 13, 2024 at 04:11:23 PM )
