Understanding General Insurance

1
(No Transcript)
2
Insurance

• Insurance is a protection against the financial
  loss arising on the happening of an unexpected
  event.
• A person can avail this protection by paying a
  premium to an insurance company.

3
How is Insurance Classified
INSURANCE
LIFE INSURANCE
GENERAL INSURANCE
FIRE INSURANCE
MOTOR INSURANCE
HEALTH INSURANEC
4
Type of Insurance

• Motor insurance
• Health Insurance
• Life Insurance
• House Insurance
• Senior Citizen Insurance

5
Insurance Claim

• An insurance claim is the actual application for
  benefits provided by an insurance company. 
• Policy holders must first file an insurance claim
  before any money can be disbursed to the hospital
  or repair shop or other contracted service.
• The insurance company may or may not approve the
  claim, based on their own assessment of the
  circumstances.

6
Process of claim

• Claim process varies depending on the company,
  but most of them follows the shown path.
• There are 2 types of claims that are given by the
  insurance companies
• Cashless Claims
• Reimbursement Claims

7
Cashless Claims

• In cashless claim facility, the charges are paid
  directly to hospitals (health claim), garage
  (motor insurance) etc., provided the service is
  taken from operators who are in network with the
  insurance providers.
• Here lets take example of health insurance claim

8
Non-cashless/ Reimbursement

• If you get service done from other service
  providers, not included in insurance providers
  network. Than you need to submit bill to get
  insurance claimed.
• Here lets take case of health insurance claim

9
Thank You