Our ISNP | Paytm Insurance

PRE SALE

Procedure

Filling up the proposal form

Customer must fill up the basic details for buying insurance policy from the portal/App. Depending on the Insurance type / category opted /selected, Customer need to provide Personal details like Gender, DOB, Smoker/nonsmoker, income, occupation type, education level, Car/motor details and lumpsum coverage required at claim stage, etc.

Payment for the policy

After filling all the necessary information as per the application/ proposal, Customer would be redirected to the payment gateway and would be required to choose a payment mode using one of the following payment options: Credit Card, Debit Card, Internet banking, UPI or e-wallet etc. After choosing the payment mode, customer would need to enter the payment details and proceed to make the payment. Upon successful completion of the payment, customer would be redirected to a payment confirmation page. Customer would get a copy of the insurance policy through email to your registered email ID after policy Issuance

Service TAT – Life/ Health/ General Insurance

In accordance with Schedule II of the Insurance e-commerce guidelines issued by IRDAI on 9th March 2017, Paytm Insurance Broking Private Limited as an ISNP follows the following service TAT’s for online sale of Insurance products:

Client servicing turnaround times are as follows :
Written communication on policy decision on the proposal/ application or raising extra requirements on the proposal to be shared by the insurer, however Customer Service team will follow up with the insurer to get the policy decision done	15 days	Date of receipt of the proposal /application or the date of receipt of any requirement called for, whichever is later
Refund of proposal/ application deposit post cancellation of proposal, refund of outstanding proposal deposit, if any	15 days	Date of cancellation approval received from the insurer

Client servicing turnaround times are as follows :

Service parameters

Maximum turnaround time (calendar days)

Turnaround time to be calculated from

Written communication on policy decision on the proposal/ application or raising extra requirements on the proposal to be shared by the insurer, however Customer Service team will follow up with the insurer to get the policy decision done

15 days

Date of receipt of the proposal /application or the date of receipt of any requirement called for, whichever is later

Refund of proposal/ application deposit post cancellation of proposal, refund of outstanding proposal deposit, if any

15 days

Date of cancellation approval received from the insurer

POST SALE

Procedure

This section has information on the processes and timelines for post sales servicing activities. If in case, Customer wants to take benefit of any of these services, he/she may do so by Logging into Paytm website/Application and raising policing servicing request

Service TAT – Health Insurance

In accordance with Schedule III of the Insurance e-commerce guidelines issued by IRDAI on 9th March 2017, Paytm Insurance Broking Private Limited as an ISNP follows the following service TAT’s for online sale of Health Insurance products:

Policyholder servicing turnaround times are as follows:
Sr No.	Service parameters	Maximum turnaround time (calendar days)	Documentation Requirement
1	Issuance and crediting of the Policy document / Certificate of Insurance / Proposal form	15 days	Date of receipt of complete documents.
2	Issuance of endorsement It may be financial or non-financial endorsement.	15 days	Date of receipt of complete documents as per Insurer’s checklist. And / or In case of Financial endorsement, date of payment of additional premium to the Insurer directly
3	Change of Policy Terms and Conditions / Details Change	15 Days	Date of receipt of complete documents as per Insurer’s checklist.
4	Increase in sum assured / Decrease in Sum assured:	15 days	Date of receipt of complete documents as per Insurer’s checklist, wherever applicable.
5	Change of Name / Address	15 Days	Date of receipt of complete documents as per Insurer’s checklist.
6	Claim Settlement	30 days	PIBPL does not provide any claim assistance, but if the customer raise a ticket for Claim assistant, then first, he/she will be redirected to the Insurance Company to register the claim and in case customer does not get support from the Insurer, then CST team will follow up with the Insurer to settle the same.

Service TAT – Life Insurance

Policyholder servicing turnaround times are as follows:
Sr No.	Service parameters	Maximum turnaround time (calendar days)	Documentation Requirement
1	Issuance and crediting of the Policy document / Certificate of Insurance / Proposal form	15 days	Date of receipt of complete documents or Medicals or any requirement raised by the insurer.
2	Issuance of endorsement It may be financial or non-financial endorsement.	15 days	Date of receipt of complete documents as per Insurer’s checklist And / or In case of Financial endorsement, date of payment of additional premium to the Insurer directly
3	Change of Policy Terms and Conditions/Details Change	15 days	Date of receipt of complete documents.
4	Increase in sum assured / Decrease in Sum assured:	15 days	Date of receipt of complete documents as requested by the Insurer.
5	Change of Name / Address	15 days	Date of receipt of complete documents as requested by the Insurer.
6	Claim Settlement	30 days	PIBPL does not provide any claim assistance, but if the customer raise a ticket for Claim assistant, then first, he/she will be redirected to the Insurance Company to register the claim and in case customer does not get support from the Insurer, then CST team will follow up with the Insurer to settle the same.

Service TAT – General Insurance/ Motor & Two-Wheeler

Policyholder servicing turnaround times are as follows:
Sr No.	Service parameters	Maximum turnaround time (calendar days)	Documentation Requirement
1	Issuance and crediting of the Policy document / Certificate of Insurance / Proposal form	15 days	Date of receipt of complete documents by the Insurer.
2	Issuance of endorsement It may be financial or non-financial endorsement.	15 days	Date of receipt of complete documents as per Insurer’s checklist And / or In case of Financial endorsement, date of payment of additional premium to the Insurer directly
3	Change of Policy Terms and Conditions/Details Change	15 days	Date of receipt of complete documents.
4	Vehicles details change: Documents required	15 days	Registration Certificate (RC) & Previous Year’s Policy Copy
4	Vehicles details change: Documents required	15 days	Date of payment of additional Premium to the Insurer in case of Financial Endorsement
5	Effective date of coverage change:	15 days	Previous year policy
6	Claim Settlement	30 days	PIBPL does not provide any claim assistance, but if the customer raise a ticket for Claim assistant, then first, he/she will be redirected to the Insurance Company to register the claim and in case customer does not get support from the Insurer, then CST team will follow up with the Insurer to settle the same.