This is how an insurance company is addressing a serious concern that many people ignore

Insurance companies are generally restricted to offering transactional services and hold importance just during distress. Majority of the insurance companies claim to roll out faster settlement methods with complete claimant satisfaction.

But what after that? Many claimants in distress are unable to come out of trauma or slip into depression. Many of them don’t know what to do with claim amount from the insurance companies.

There is always a gap between providing services and receiving them and it is an emotional gap.

In a bid to bridge this gap and go beyond the call of duty, Bharti AXA Life has come out with ‘Grief Support Program’.

“It is a sort of an extension to our customer-first, customer centricity goal whereby we want to be seen as the first customer centric insurance company by 2020. We wanted to go beyond duty and obligation and venture into an area which is never been looked at by any insurance company,” said Sandeep Ghosh, MD&CEO, Bharti AXA Life Insurance.

Why is this important?

After receiving the claim amount, many people don’t know where to go and how to get life back on track. Many a times, people depend on family members rather than professional help. It is important to take professional help and seek guidance of experts on how to use the claim money and become mentally stronger.

“Every time we settle claims, we talk to claimants to get insights and feedbacks. Initially, the discussion was more about transactional one. But through that journey, we realised that even if we paid the claimant as quickly as possible, there was always a gap that claimants professed. Even wills get contested and here we come in. We enable the fulfilment of the gap,” added Ghosh.

What will be the guidance on?

Bharti AXA has tied up several partners who will provide emotional, financial services and second opinion on will, subjected to claimant consent. Counselling will be done through telephonic and even face to face.

“During the claim process, at every touch point, company officials will give them this option of opting for counselling. These are value added services and they don’t have to pay for this,” said Ghosh.

The certified subject related experts will assist with for the claimant/family of the deceased policyholder on three categories-‘how to maintain existing lifestyle’, ‘How to plan for different life-stages’, ‘Investment advice'.

(Image: riskinsurance.com)