Taking a cue from the success of it’s 48-hour fund claim campaign for Unit Linked Insurance Policies, Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and AXA, world leader in financial protection; has added new service initiatives to assist its customers in every stage of insurance. Customers today look for real and relevant solutions that address their expectations. In the Life Insurance category, the key moment of truth is claim settlement, the Raison d’être of the category itself. Bharti AXA Life, in October 2010, launched a service initiative of “Release of Fund Value within 48 hours of claims intimation.â€Â
The new service initiative provides the customer with a guarantee that the claims will be processed on priority and aims to alleviate his fears around this process. The guarantee is further backed by a penalty of 1% of the Fund Value, for every day of delay that would be paid to the customers. The focus on the principal moment of truth, claim settlement, was aimed at linking Bharti AXA Life with ‘trustworthiness’, ‘speed’ and ‘simplicity’.
Living up to this guarantee, as it has settled 296 claims (99.66%) and none are pending from the 301 intimations received till date. On an average, claimants have been informed about settlement through SMS with cheque numbers in 28.23 hours, while cheques have been disbursed on an average in 30.26 hours.
Bharti AXA Life has developed a customer charter that outlines the cutting edge services they offer. The focus is now on being available, reliable and attentive to customers at all the time. The first initiative under the new customer charter has been the launch of an e- Self Service module where policy holders can manage their policies online. They can check their fund values, make fund switches, pay premium, reinstate their lapsed policies and download premium receipts or fund statements. The self service module is also available for the policy holders on their mobile phones.
In addition, it offers a wide array of premium payment options to customers including multiple online payment options, mobile payment, payment on IVR, cash/cheque payments at branches and retail partner outlets with 1 lakh plus points of presence across the country as well as auto-debit to bank account or credit card facility.
With all these services, Bharti AXA Life Insurance has renewed its commitment to assist its policy holders at every stage of the relationship.
