Country's largest general insurance company, New India Assurance has launched an online portal for two-wheeler, private car, health, personal accident and over-seas medi -claim insurance policies.
The online portal will allow all the registered users to link their existing policies, track the status of claims and it will also effect renewal of linked policies. Online portal will allow payment through debit and credit cards.
Mr. G Srinivasan, CMD of New India Assurance said, "All these policies can be taken by first-time customers as well as existing customers to renew policies through the online portal. We will offer discounts of 5 to 10 per cent to incentivize customers to avail themselves of policies through the online portal".
Mr. Srinivasan said that the third party motor premium hike of around 30 per cent for commercial vehicles proposed by IRDA in its draft circular is not adequate as the insurance industry needs around 60-70 per cent increase in premium rates to make third party insurance portfolio more viable for insurance companies due to high claim ratios.