Every insurance broker in India is required to comply with Schedule III of insurance e-commerce guidelines (post-sales servicing). The following are the procedures, processes, and timelines of post-sales servicing.
Issuance and Crediting of the Policy Document / Certificate of Insurance / Proposal Form
Eligibility criterion: Receipt of all documents from policyholder
Turnaround time: As specified by your insurer.
Conducting Medical Check-ups and Submission of Medical Reports
If a medical check-up is required, the customer is re-routed to the next step after the payment is made; that is, the schedule medical option on the website.
Issuance of Endorsement
An endorsement is issued whenever contractual changes are requested by the policyholder and are made in the policy by the insurer. Turnaround time: As specified by your insurer.
Correction of Date of Birth (DoB)
Change of DoB request means a change or correction in the Date of Birth of the policyholder, life insured, or nominee/trustee.
Eligibility Criterion: Proof of date of birth.
Additional Premium (applicable on change of DOB)
Eligibility criterion: Submission of applicable documents.
Turnaround time: As specified by your insurer.
Increase or Decrease in Sum Assured
Allowed only at time of renewal.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Correction of Gender
Updation of correct gender in customer’s policy. Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Change of Name
Changes can be made after submission of the following documents:
Turnaround Time: As specified by your insurer.
Change of Address
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Every insurance broker in India is required to comply with Schedule III of insurance e-commerce guidelines (post-sales servicing). The following are the procedures, processes, and timelines for post-sales servicing of insurance policies.
Issuance and Crediting of the Policy Document / Certificate of Insurance / Proposal Form
Eligibility criterion: Receipt of all documents from policyholder.
Turnaround time: As specified by your insurer.
Organizing Inspection and Submission of Video Inspection Report
Once the inspection is done, the insurer decides whether to recommend insurance or not. If insurance is recommended, the process of premium payment and policy issuance ensues.
Issuance of endorsement
An endorsement is issued whenever contractual changes are requested by the policyholder and are made in the policy by the insurer.
Turnaround time: As specified by your insurer.
Correction of Date of Birth (DoB)
Change of DoB request means a change or correction in the date of birth of the policyholder, life insured, or nominee/trustee.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Change in Vehicle’s Details
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Change of Name
Changes can be made after submission of the following documents:
Change of Address
Changes can be made after submission of the following documents:
Change of Nomination
policyholder is required to nominate a person to whom the money secured under the policy shall be paid in the event of death. This nomination is changeable.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Every insurance broker is required to comply with Schedule III of Insurance e-commerce guidelines (post-sales servicing). The following are the procedures, processes and timelines for pre-sales solicitation of insurance policies:
Digital Platform E-Quote generation:
Quotes are generated after submission of basic details.
Some of these required details include:
Upon eQuote generation, the customer can check the quotes from various insurance companies and select any insurance company’s plan that the customer wishes to purchase. He will then be redirected to the product page of that insurer, which lists down all the details of the plan selected and gives options to select riders.
After generating an eQuote, a customer can check quotes from various insurance companies on the website, and for more details of the preferred plan, s/he will be redirected to the product pages (includes lists of all details that are required from the customer to complete sourcing of the policy before premium payment) of the selected insurer.
Customers are redirected to a payment gateway (PG) page on which a premium payment can be made. Payments can be made through various payment options – Internet banking, debit card, credit cards, and eWallets.
These options are available on the payment page of the proposal form journey on our website. This might change from time to time. Apart from this, the standing instruction option is also available to pay future renewal premiums. Once the customer has completed the next steps [that is, fill the proposal form, upload documents, and schedule medicals (if applicable)], s/he will be directed to online payment.
Procedures, processes, and timelines for post-sales servicing of insurance policies
Filling of Proposal Form
Disclosures by a life insured / proposer is used for underwriting processes. Hence, it is mandatory to verify the details filled in the proposal form, which is authenticated through mobile OTP (one-time password) authentication.
On completion of payment and proposal form filling, a copy of the proposal form (PDF) is sent along with a payment acknowledgement to the customer’s registered email ID.
The proposal form will contain the following sections:
Documents to Be Uploaded
self-attested copy of the following documents are to be submitted:
Schedule Medicals
A date and time is to be selected to schedule a medical test. It can be done at the customer’s residence or s/he may be required to visit the insurer’s regular diagnostic centre. This information is available on the medical page or will be informed to a customer accordingly.
Policy underwriting and policy issuance is made by the insurer. After issuance, a policy pack will be sent to the customer’s communication address by the insurer. A soft copy will be sent to a customer’s email ID by OneInsure.
Correction of Date of Birth (DoB)
Change of DoB request means a change or correction in the date of birth of the policyholder, life insured, or nominee/trustee.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Receipt will be sent to the registered email within a set number of days of the transaction, as specified by your insurer
Simplified Table with Process Timelines
Process | Timeline |
---|---|
Proposal form filling | As specified by your insurer |
eCopy of proposal form and payment acknowledgement | As specified by your insurer |
One-Time Password (OTP) for authentication | As specified by your insurer |
KYC documentation | The customer relationship team will complete this after completion and submission of proposal form |
Medical scheduling | The customer relationship team will complete this after completion and submission of proposal form |
Acceptance of proposal form | As specified by your insurer |
Refund | As specified by your insurer |
Every insurance broker in India is required to comply with Schedule III of insurance e-commerce guidelines (post-sales servicing). The following are the procedures, processes, and timelines of post-sales servicing.
Issuance and Crediting of the Policy Document / Certificate of Insurance / Proposal Form
Eligibility criterion: Receipt of all documents from policyholder
Turnaround time: As specified by your insurer.
Conducting Medical Check-ups and Submission of Medical Reports
If a medical check-up is required, the customer is re-routed to the next step after the payment is made; that is, the schedule medical option on the website.
Issuance of Endorsement
An endorsement is issued whenever contractual changes are requested by the policyholder and are made in the policy by the insurer. Turnaround time: As specified by your insurer.
Correction of Date of Birth (DoB)
Change of DoB request means a change or correction in the Date of Birth of the policyholder, life insured, or nominee/trustee.
Eligibility Criterion: Proof of date of birth.
Additional Premium (applicable on change of DOB)
Eligibility criterion: Submission of applicable documents.
Turnaround time: As specified by your insurer.
Increase or Decrease in Sum Assured
Allowed only at time of renewal.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Correction of Gender
Updation of correct gender in customer’s policy. Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Change of Name
Changes can be made after submission of the following documents:
Turnaround Time: As specified by your insurer.
Change of Address
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Every insurance broker in India is required to comply with Schedule III of insurance e-commerce guidelines (post-sales servicing). The following are the procedures, processes, and timelines for post-sales servicing of insurance policies.
Issuance and Crediting of the Policy Document / Certificate of Insurance / Proposal Form
Eligibility criterion: Receipt of all documents from policyholder.
Turnaround time: As specified by your insurer.
Organizing Inspection and Submission of Video Inspection Report
Once the inspection is done, the insurer decides whether to recommend insurance or not. If insurance is recommended, the process of premium payment and policy issuance ensues.
Issuance of endorsement
An endorsement is issued whenever contractual changes are requested by the policyholder and are made in the policy by the insurer.
Turnaround time: As specified by your insurer.
Correction of Date of Birth (DoB)
Change of DoB request means a change or correction in the date of birth of the policyholder, life insured, or nominee/trustee.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Change in Vehicle’s Details
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Change of Name
Changes can be made after submission of the following documents:
Change of Address
Changes can be made after submission of the following documents:
Change of Nomination
policyholder is required to nominate a person to whom the money secured under the policy shall be paid in the event of death. This nomination is changeable.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Every insurance broker is required to comply with Schedule III of Insurance e-commerce guidelines (post-sales servicing). The following are the procedures, processes and timelines for pre-sales solicitation of insurance policies:
Digital Platform E-Quote generation:
Quotes are generated after submission of basic details.
Some of these required details include:
Upon eQuote generation, the customer can check the quotes from various insurance companies and select any insurance company’s plan that the customer wishes to purchase. He will then be redirected to the product page of that insurer, which lists down all the details of the plan selected and gives options to select riders.
After generating an eQuote, a customer can check quotes from various insurance companies on the website, and for more details of the preferred plan, s/he will be redirected to the product pages (includes lists of all details that are required from the customer to complete sourcing of the policy before premium payment) of the selected insurer.
Customers are redirected to a payment gateway (PG) page on which a premium payment can be made. Payments can be made through various payment options – Internet banking, debit card, credit cards, and eWallets.
These options are available on the payment page of the proposal form journey on our website. This might change from time to time. Apart from this, the standing instruction option is also available to pay future renewal premiums. Once the customer has completed the next steps [that is, fill the proposal form, upload documents, and schedule medicals (if applicable)], s/he will be directed to online payment.
Procedures, processes, and timelines for post-sales servicing of insurance policies
Filling of Proposal Form
Disclosures by a life insured / proposer is used for underwriting processes. Hence, it is mandatory to verify the details filled in the proposal form, which is authenticated through mobile OTP (one-time password) authentication.
On completion of payment and proposal form filling, a copy of the proposal form (PDF) is sent along with a payment acknowledgement to the customer’s registered email ID.
The proposal form will contain the following sections:
Documents to Be Uploaded
self-attested copy of the following documents are to be submitted:
Schedule Medicals
A date and time is to be selected to schedule a medical test. It can be done at the customer’s residence or s/he may be required to visit the insurer’s regular diagnostic centre. This information is available on the medical page or will be informed to a customer accordingly.
Policy underwriting and policy issuance is made by the insurer. After issuance, a policy pack will be sent to the customer’s communication address by the insurer. A soft copy will be sent to a customer’s email ID by OneInsure.
Correction of Date of Birth (DoB)
Change of DoB request means a change or correction in the date of birth of the policyholder, life insured, or nominee/trustee.
Changes can be made after submission of the following documents:
Turnaround time: As specified by your insurer.
Receipt will be sent to the registered email within a set number of days of the transaction, as specified by your insurer
Simplified Table with Process Timelines
Process | Timeline |
---|---|
Proposal form filling | As specified by your insurer |
eCopy of proposal form and payment acknowledgement | As specified by your insurer |
One-Time Password (OTP) for authentication | As specified by your insurer |
KYC documentation | The customer relationship team will complete this after completion and submission of proposal form |
Medical scheduling | The customer relationship team will complete this after completion and submission of proposal form |
Acceptance of proposal form | As specified by your insurer |
Refund | As specified by your insurer |