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Transparency in Claims Process

What can lead to a claim request not getting approved? 

At Acko, we pride ourselves on providing transparent and quick claim approvals. In all probability, you’ll not face any issues during your claims. Unfortunately, there are a few cases where claims don’t get favourably approved.

If the outcome of the claims settlement does not meet your expectations, our team will help you understand why it turned out to be so. We believe in complete transparency and will tell you the exact reasons that went into making a decision on a claims settlement.

Here are some reasons that can lead to an undesired claims settlement:

Why is it important for only rightful claims to get processed?

Insurance, in its true form, is there to help you recover any financial loss. It is not an instrument to make money. Anyone who has genuinely suffered a loss, should get help from an insurance company promptly and with complete transparency. This is what Acko tries to do everyday.

It is important that only genuine and rightful claims get cleared, so that people who have suffered a loss can recover as soon as possible. It is also important to maintain vigilance, so that people who pay the premiums but do not usually claim, don’t have to pay higher premiums next year, just because someone else figured out how to cheat the system.

At Acko, we do not look for reasons to decline a claim. We strive to settle the claims as soon as possible and a testament to our high bar in customer experience is social media feedback

What to do in case your claim has not been processed favorably?

We’ve tried our best to keep our policy wordings simple and straightforward. No one likes to read up documents about insurance, but we urge you to take out 10 minutes and go through your policy document to get an understanding of what is covered in the policy and what isn’t. It also covers all the reasons that can lead to disapproval of a claim request. 

This will not only set the right expectations during claims, but if you think the policy lacks any feature that you want, you can always reach out to us and upgrade to the right coverage. If you have any questions about our claims process that you wish to get addressed, write to us on: [email protected] and our team will help you out.

CIN: U66000KA2016PLC138288

IRDAI Registration No: 157

Category: Non-Life Insurance

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