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‘Bharat Claims’: Now Claim Your Free and Unknown Insurance Through Mobile App – Taasir Daily News
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‘Bharat Claims’: Now Claim Your Free and Unknown Insurance Through Mobile App

Written by Taasir

Taasir Urdu News Network / Mosherraf

  • All India Citizens have got free insurance with Gas Cylinder, Debit/credit cards, Mobile SIM, PF account,Bank accounts, State and Central government sponsored insurance schemes etc. but they are not aware on how to claim these free insurances.
  • In 2021 ‘Bharat Claims’ facilitated claims totalling Rs 8 crore for 250 families through such free insurance schemes. People who died due to COVID Pandemic are also entitled to such free insurances.
  • The Indian insurance industry reached US$ 294.84 Billion in 2021 and is expected to grow with a CAGR of 5.3% in 2022, according to India Brand Equity Foundation (IBEF). Against the premium collection of approx. Rs. 22 Lakh Crore, the claims worth only Rs. 8Lakh Crore are disbursed.

 New Delhi, May 24, 2022

Indians are usually unaware of their free or hidden insurance policies especially provided with credit, debit cards, bank accounts, and Government schemes such as PM Jeevan Suraksha Bima Yojna and Jeevan Jyoti Bima Yojna, PM Gharib Kalyan Yojna (for Health workers fighting COVID-19), PF account and Gas Cylinders etc. There are many such insurance policies provided for free but due to lack of awareness, reluctance on the part of insurance companies, and complicated claim processes, nominees or families are not able to get the claims in case of a death in the family.

Ramesh Chandra’s (Name changed) brother died recently due to illness and the family was in financial distress. He got connected with a friend who was an insurance agent and got to know about a tech-enabled claims facilitator Mobile App and uploaded his brother’s Aadhar on an App. And within a month, the family received Rs 7 lakh claim as the deceased had worked for a company in Mumbai and he had an insurance policy with his PF Account, unknown to the nominee and the family. ‘Bharat Claims’ facilitated the process and the insurer was pressed to settle the claim.

Now, India@75 gears up to disrupt the ways Indians claim their known and unknown insurance policies. The world’s first AI-based consumer mobile app-Bharat Claims- through its tech-enabled human-driven initiative has shown the ways for people to get rid of insurers’ reluctance and complicated processes and claim their known or unknown or free or premium paid insurance policies.

According to IBEF, the life insurance industry is expected to increase at a CAGR of 5.3% between 2019 and 2023. India’s insurance penetration was pegged at 4.2% in FY21, with

life insurance penetration at 3.2% and non-life insurance penetration at 1.0%. In terms of insurance density, India’s overall density stood at US$ 78 in FY21.

“Historically, India has suffered a trust deficit in Insurance, causing very low consumer penetration. Insurance reach is still very low in India. The root cause of which is the complicated and erratic claims settlement process. ‘Bharat Claims’ is an AI-enabled transparent and easy to use Mobile App. Due to its ease of claiming insurance and discovering free unknown insurances, every Insurance consumer in India will eventually download this mobile App” said Mr Kavinder Khurana, Social Entrepreneur and MD of Bharat Claims. 

The idea of insurance tech originated in 2021. A team of insurance tech experts joined hands to develop ‘Bharat Claims’ and in that year only, in its experimental phase, facilitated claims totalling Rs 8 crore for 250 families. Now, thousands of families in Gujarat, Rajasthan, West Bengal and other states are in the process of getting their claims, facilitated by ‘Bharat Claims.’

“It is the biggest insuretech disruption. Imagine you can help your near and dear ones to claim free or unknown insurance of the deceased member in their family with Bharat Claim mobile App. We would urge all Indian citizens to download the App to know what free or unknown insurance they already have and nominate their family members to claim it” added Mr Kavinder Khurana.

Delays and rejections of claims are not uncommon in the insurance sector and it is one of the main reasons for low penetration of insurance in a 1.4 billion population country. ‘Bharat Claims’ ensures to make seamless insurance claims part of people’s daily life with a click.

“The government, through its banking system, collects Rs.12 and Rs. 330 per account holder as premium for Pradhan Mantri Jeevan Suraksha and PM Jeevan Jyoti Beema Yojna Insurance schemes, respectively. Over the years, the premium collection has crossed Rs 60 crore per annum. We find that there is an urgent need to provide people with a tech-enabled mechanism to get their known, unknown, and free insurance claims timely and without any hassle. We developed this App with efforts in last 3 years and now anyone can download it from Google Play Store.After uploading Aadhar Card and other details, we provide the user with information about all the free and unknown insurance policies. In case of anyone’s death, we facilitate speedy claims for their family and dependants” said Mr Hitesh Saini, CEO, Bharat Claims.

On the insurance front, the challenges faced by consumers are many. No policy management platform supporting decoding the policy and reminding for premium is a major challenge. Lack of awareness of paid insurance issued by the Government is yet another pain point.

“Bharat Claims Mobile App integrates all isolated, opaque and fragmented government data bases into one platform which can fetch out policy details by just Aadhar number or Aadhar scan.From help in claiming free insurance to providing expert assistance in claim settlements, Bharat claims has emerged as first of its kind one-stop tech platform,” added Mr Saini. 

So, if consumers are facing any difficulties regarding their insurance policies and claim settlement, with ‘Bharat Claims’ on their mobile, they can be at ease. Moreover, the App provide some value-added services such as Insurance Score (like CIBIL) so that a consumer gets discount on their future policy premiums.Instant financing in case of reimbursement claims during hospitalisation is also possible through the Bharat Claims Mobile app. In the case of third party insurance claims also, if consumers face problems, the disruptors- ‘Bharat Claims’- are out there to facilitate and help.

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