Sunday, July 21, 2024
Home » Policies & Schemes » IRDAI Enforces 3-Hour Time Frame for Processing Cashless Insurance Claims

IRDAI Enforces 3-Hour Time Frame for Processing Cashless Insurance Claims

June 4, 2024
Policies & Schemes

Hey, like this? Why not share it with a buddy?

The Insurance Regulatory and Development Authority of India (IRDAI) has issued a directive requiring insurers to expedite the approval of cashless claims, setting a strict three-hour deadline. This regulation is part of IRDAI’s broader effort to improve the health insurance system in India, emphasizing customer satisfaction and transparency.

The circular also encourages insurers to broaden their offerings with a variety of insurance products, add-ons, and riders, aiming to cater to the diverse needs of policyholders. These initiatives are expected to enhance the trust and uptake of health insurance, as they promise more efficient service and a wider range of coverage options.

IRDAI’s commitment to these customer-focused reforms is likely to set new standards for service quality in the health insurance industry, fostering an environment of transparency and dependability.

Ultimately, these measures are designed to make health insurance more approachable and tailored to the needs of policyholders, thereby strengthening their confidence and trust in the insurance sector.

Reader / Viewer discretion and disclaimer :
The information provided on SME e-News ( website is intended for general informational purposes only. While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the content. The views and opinions expressed in the articles and posts on this website are those of the authors and do not necessarily reflect the official policy or position of SME-e-News website. Readers are advised to independently verify any information found on this website before making decisions based on it. We do not endorse, represent, or warrant the accuracy or reliability of any third-party content linked on this site. Furthermore, SME e-News ( website shall not be held liable for any errors, omissions, or delays in the information provided, nor for any losses, injuries, or damages arising from its display or use. Please note that the content on SME e-News ( website may be subject to change without notice.