Page 52 - Insurance Times April 2021

h. Premium amount due on renewal (to be 4. This has the approval of the competent authority.
specified at the time of renewal)
i. Grace Period (within 5 days after renewal due DV S Ramesh
date) General Manager (Health)
j. Contact details (for any query or other issues)
of customer support service of Insurer, Toll Free Rural Insurance data formats
No. or e-mail Id etc.
IRDAI/NL/CIR/MISC/033/2021
ii) The above information shall be communicated by Date:02-03-2021
insurers to all the policyholders twice in a year, i.e,
6 months after issuance of policy and at least 1 In order to monitor the performance of Rural Insurance
month prior to the renewal due date. However, in
case of a multiyear policy, the information can be Business and support the development of policy and
shared with a frequency of 6 months from the date regulation for promoting rural insurance business, it is
of issuance of policy. necessary to analyses data pertaining to Rural Insurance. It
has therefore been decided to collect data as follows:
iii) In addition to the above, in the event settlement
of any claim under a health insurance policy, the S. No Form Name Title
insurer shall also communicate the details of 1 Rural_A Crop Insurance
balance sum insured along with the cumulative 2 Rural_B Livestock, Poultry, Aquaculture,
bonus available, if any, to the policyholder. This shall Insects and other Animal Insurance
be notified to the policyholders within 15 days of
settlement of claim. 3 Rural_C Rural/Agricultural Property and
Rural/Farmer’s Package Insurance
iv) The insurer may choose any mode of communication
4 Rural_D Rural Health and Personal Accident
(message, e-mail, letter etc) for the purpose of
Insurance
notifying the above referred information. The
sample messages / communications that all the
insurers to notify to the policyholders is placed at You are required to submit the following:
Annexure-1 for illustration purpose only. Insurers can 1. The last 3 FY Rural Insurance data in the prescribed
improve on the same while refraining from making formats starting from FY 2017-18 on or before 31st
the message complex, unintelligible or too long with March 2021.
unnecessary information. These norms are applicable 2. Rural Insurance data in prescribed format for each
to all individual (both indemnity and benefit based) Financial Year starting with FY 2020-21 to IIBI on or
health insurance policies. before 3 months of closing of Financial year.
3. All the insurance companies shall comply with the
instructions issued in this circular at the earliest and not (Yegnapriya Bharath)
later than 1st June 2021. CGM (Non-life)

ICICI Lombard contactless motor insurance claim approvals crosses

10 lakh
ICICI Lombard General Insurance 'InstaSpect' feature for vehicle damage assessment has reached the milestone of
over 10 lakh motor insurance claim approvals since its launch in 2018.
The 'InstaSpect' feature, which eliminates the need for vehicle damage assessment through a physical survey, has a
live stream feature for virtual assessment. It brings down the claim approval time to a mere few hours.
ICICI Lombard said in a statement, "In the digitally enabled new normal, 'InstaSpect' has gained significant traction
with more people using it to get their claims settled from the comfort and safety of their homes."
"Interactive elements such as an instant survey on live video call assisted by claims manager and query resolution in
real-time have significantly contributed to the app feature's popularity," the insurer added.

52 The Insurance Times, April 2021