Disclaimer

Role of Alert Insurance Broker Pvt. Ltd.

Pre-Sale:

• Negotiate with the Insurance Company for the best price on behalf of our client. 
• Understanding the Insurance requirement of the client.
• Arranging for Risk Inspection wherever required
• Advice the right Insurance product and covers to the client.
• Provide the right add on covers and explain the advantages of the same during a claim.
• Advice the client on obtaining Valuation report wherever applicable.
• Explaining the various deductions during a claim like Depreciation , Salvage, Under Insurance, Policy excess (Common rule applicable to all Insurance Companies) 
• Explaining the client to ensure that the Sum Insured indicate Reinstatement / New Replacement value to avoid “Under Insurance” deductions during a claim
• Explaining different sample of settlements during a fire claim based on the Sum Insured chosen: recommendation
• To caution the client on warranties, Sub limits, Exclusions …etc.
• Providing quotes & terms from 3 to 5 Insurance companies along with our recommendations so the client can take quick & informed decision.
• Obtaining Mandate from the client as per IRDA regulations

Sale:

• To ensure the premium is paid directly to the Insurance company before commencement of the risk as per the Insurance Act.
• To arrange for Held cover letter / Cover note / Policy for the client.

Post Sale:

• Quality check: To ensure Proposal / Final quote slip and the Policy issued are in line.
• Arrange endorsements from the Insurance company for any corrections.
• Reminders for monthly declarations & top ups (As applicable).
• Prompt Insurance renewal reminders well in advance.
• To ensure prompt Push notification updates to the client during a claim

Insurance Claim Consultancy

For a client it is very difficult to go through the Policy wordings , Terms and conditions, warranties and various clauses of any Insurance policy and understand what is covered, What is not covered, what are the add on covers available in the policy, what are the exclusions and deductions during a claim.

Insurance claims are all about documentations and checklist which change according to product to product, Peril to Peril (Peril means cause of loss).

IRDAI has clear Turnaround time (TAT) for appointing a surveyor by the Insurance company, submission of survey report, appointing an investigator , submission of investigation report, Role of an Insurance Broker during a claim …etc. The mode of claims payment disbursement is only through NEFT or RTGS directly from the Insurance Company to the Policy holder’s account.

To have a good Insurance claims experience the client must ensure that the Pre sale, Sale and Post sale checklist are taken care during renewing or buying a policy itself.

Still if there are claim disputes it is always recommended to go through an Insurance Broker like us who have in house Insurance technical experts with 30 years of experience in various Products to interpret on behalf of the client.

Insurance brokers like us are licensed by IRDAI to render Insurance claims consultancy to clients who have not bought the policy through us and are seeking for proper professional guidance by experts.

There is a nominal fees involved for such consultancy.

The Insurance consultancy fees will be collected only after we study the claim papers. If we feel that the Insurance Company has rejected / repudiated the claim on fair grounds as per the terms and conditions then as a principal we will not charge any fees from the client.