General insurance 2.0: Firms are using tech to settle claims automatically

From blockchain to telematics, insurers are using technology to file claims, earn rewards

On the way to the airport, the airline informs you that your flight has been cancelled. If you have a travel insurance, you will first need to lodge a claim, fill up a form, wait for approval and then get the money back. Not anymore.

For instant settlements in case of flight delays and cancellations, Bajaj Allianz General Insurance has launched a feature, called Travel Ezee, as part of its travel insurance offering. The money reaches your bank account in a few minutes of the airline operator informing you of a delay or cancellation, without even lodging a claim.

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