Kathmandu. KATHMANDU: Nepal Life Insurance has paid more than Rs 4.15 billion to the insured in the last three months. Nepal Life Insurance has paid such a huge amount to the insured as claim payment during the three months of July, August and September.
In the first quarter of the current fiscal year, Nepal Life Insurance has contributed 23.4 percent of the total claim payment made by all 14 life insurance companies. Life insurers have paid Rs 17.73 billion in the first three months of the current fiscal year.
Rs. 1 trillion total claim payments:
The company, which has a life insurance fund of more than Rs 200 billion, has paid claims of Rs 103 billion to its insured in the last 24 years. As Nepal Life Insurance has the largest market share in the life insurance business, its claim payment size is two to five times more than other life insurers.
99 percent of death claims settled:
Nepal Life Insurance Pvt. Ltd. has been providing fast and fast payment at the doorstep to ease the claim payment while maintaining trust in the insured. Payment of claims in a simple and easy way is the main feature of the insurance company and the basis of trust.
According to the company, registration for insurance claims is 2081. 99.01 percent of the death claims registered between July and November 2018 have been settled.
World of Reliability
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Claim payment is one of the most important ways to earn the trust of life insurance companies. It is the responsibility of the life insurer to provide the amount to the insured or his dependents as per the terms and conditions mentioned in the policy.
It is clear from the data of claim payment that the insurance company has taken the risk, how much amount it has arranged to pay in the event of a risk-based event, and whether it is able to bear the long-term liability or not. In this way, Nepal Life is becoming the market leader in claim payment. Being the highest claim paying life insurance company is a clear testimony to Nepal Life’s top priority to its customers.
tech-friendly customer service{
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Nepal Life Insurance has adopted digital services, mobile app, helpline, fast claim payment system, technology-friendly process to improve customer service. According to the company, it has provided the insured with the hassle-free and easy access to claims in a hassle-free environment. The insured gets timely information, has a clear provision for submitting documents, facilitates claim payment and does not delay in payment is a positive feeling towards insurance.
The more transparent, quick and reliable claim payment is, the stronger the life insurance sector becomes. The real measure of success of life insurance companies is not the number of insurance policy sales, but the quality of claim payments. The credibility of the life insurance company is also an indicator of claim payment. When a customer chooses an insurance company, they should choose from these indicators and the level of service provided by the companies.
