Insurers to process claims under govt's flagship schemes within a week

Finance Minister Nirmala Sitharaman meets heads of insurance companies for faster claim settlement amid pandemic

The processing of claims made under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) will be completed within seven days as against 30 days earlier to expedite processing of claims during the pandemic.

Digitisation of the claim settlement process between banks and insurance companies has also been initiated for quick settlement of claims, Finance Minister Nirmala Sitharaman was informed at a meeting with heads of state-owned and private insurance companies. 

Other steps that have been taken by the insurers include transmission of claim documents through email or application; eliminating the delay due to paper transmission;