Insurers now offer value-added services

Tax filing, electrical service, alternate medical opinion and customer feedback getting incorporated into policy package offers

When your furniture at home has to be replaced, your insurance company could come to the rescue.

Going beyond basic products, these now offer facilities such as concierge services, doctors for a second opinion, gift delivery and day-to-day repair assistance. And, communities being built to share information about products.

Reliance General Insurance now offers specialised services to home insurance customers apart from roadside assistance services for motor insurance. Rakesh Jain, chief executive, said that they took a decision in this regard and in motor cars, assistance is embedded within the product.

"We extended it to home insurance post Chennai floods," he said. Their idea was that the insurer should be the first port of call. The company made arrangements for electricians, concierge services and tax filing, among other such contingencies. The floods had caused heavy damage to property and houses, especially those on the ground and first floors in buildings. Roadside assistance service is one of the most common value-added ones from several general insurance companies. This includes spot assistance if the vehicle has an accident. Some even have alternative cars being arranged for female drivers on highways. Also, mechanics from nearby garages sent for emergencies.

Bajaj Allianz General Insurance also gives value-added services in car insurance like accommodation benefits. Here, if your car meets with an accident or a breakdown beyond 100 km from your city, repairs for which will take more than 12 hours, they will provide hotel accommodation for the occupants for a maximum of two days and two nights, limited to Rs 2,000 per person per day and a maximum total of Rs 16,000 through the policy period

ICICI Lombard General Insurance and some others have value-added services which could provide assistance to the family at home when one is abroad, as part of travel insurance. Further, you can also use their services to send gifts to the family in India when travelling abroad.

Insurers have also done research on what customers want. For instance, PNB MetLife Insurance's research indicated they look for value additions from their service providers in the areas of health, wellness, doctor outreach, tuition for children, career counselling and a medical second opinion. Which is why they recently launched 'Health Connect' for a select customer base, offering discounted health packages, medical second opinion tie-up, a 24-hour doctor on call facility and a wellness package.

Forums are also being created to simplify insurance. HDFC ERGO General Insurance has announced the launch of a community portal to provide a peer-to-peer channel. Here, users can get advice, discuss their experience and share information about anything under the umbrella of non-life insurance. This initiative brings together insurance experts, existing and potential customers of non-life insurance, and knowledge seekers on a single platform, to discuss experiences, share information and opinions on insurance products and services.