This year's 3ยท15 is the first International Consumer Rights Day after the official implementation of the new Insurance Law. Looking back at the changes brought to claims services by the new Insurance Law, it is not difficult to discover that many requirements protecting policyholders' interests mentioned in the new Insurance Law, such as "accelerating claims processing" and "overdue interest payment for dividend insurance," are being practiced by multiple insurance institutions.
Currently, insurance institutions within the city, such as GuoShou, Ping An, and AnBang, have significantly reduced the claims processing time and are fully committed to rapid claims settlement. For instance, China Ping An has promised to drastically reduce the claims settlement time for cases involving less than 10,000 yuan under its Ping An auto insurance from 3 days to 1 day, once again setting a new standard for China's insurance industry; Taikang Life has also promised that for claims cases where the insurance liability is clear and all required documents have been submitted but no determination has been made within 30 days, in addition to paying the insurance money, they will pay overdue interest to the beneficiary starting from the 31st day according to the number of overdue days.
Claims services have always been the most concerning topic for customers; how to improve claims efficiency and shorten the claims processing time has become a key focus for insurance companies to enhance their services.
The new Insurance Law further clarifies and standardizes the procedures and time limits for insurance claims to address the issue of difficult claims. Industry insiders stated that this explicit claims time limit and measures to increase claims speed written into the terms will greatly shorten the customer's waiting period for claims, improve the customer's claims experience, and enhance the efficiency of claims processing.
This article is reprinted from the official website of Ping An of China. For more details, please visit http://www.pingan.com.