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:
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	15 days	Date of receipt of the proposal/application or the date of receipt of any requirement called for, whichever is later
Providing copy of submitted application/ proposal form	Immediate	Date of application
Refund of proposal/ application deposit post cancellation of proposal deposit, if any	15 days	Date of case decision/date of receipt of last necessary document/ date of receipt of request for cancellation of proposal, whichever is later
Free look cancellation	30 days	Date of receipt of request/last necessary document, whichever is later

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:
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	15 days	Date of receipt of complete documents.
2.1. Change of Policy Terms and Conditions/ Details Change:-
2.1.A. Correction of Date of Birth (DOB):	15 days	✓ DOB change from (for all policy numbers) ✓ Self-attested Date of Birth Proof ✓ Premium (wherever applicable due to change of DOB)
2.1.B. Increase in sum assured/ Decrease in Sum assured:	15 days	✓ Change Request form (wherever applicable) ✓ Premium (wherever applicable) ✓ Medicals (wherever applicable)
2.1.C. Correction of Gender	15 days	✓ ID Proof in which DOB should match with our records. ✓ Premium (wherever applicable due to change of Gender).
2.1.D. Change of Name	15 days	✓ A valid name change proof (on which customer's DOB should match with our records) DOB Proof should be in DD-MM-YY order ✓ Name Change affidavit (as per state value) attested by first class magistrate
2.1.E. Change of Address	15 days	✓ Self-Attested valid address Proof of new address
3. Claim Settlement	30 days	✓ All hospital bills and collect all original documents of treatment undergone and expenses incurred ✓ Discharge Summary ✓ KYC documents ✓ Bank details

Service TAT – Life Insurance

Policyholder servicing turnaround times are as follows:
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	15 days	Date of receipt of complete documents.
2.1. Change of Policy Terms and Conditions/ Details Change:-
2.1.A. Correction of Date of Birth (DOB):	15 days	✓ DOB change from (for all policy numbers) ✓ Self-attested Date of Birth Proof ✓ Premium (wherever applicable due to change of DOB) ✓ Revised Illustration duly signed
2.1.B. Increase in sum assured/ Decrease in Sum assured:	15 days	✓ Change Request form (wherever applicable) ✓ Premium (wherever applicable) ✓ Medicals (wherever applicable)
2.1.C. Change of Name	15 days	✓ A valid name change proof (on which customer's DOB should match with our records) DOB Proof should be in DD-MM-YY order ✓ Name Change affidavit (as per state value) attested by first class magistrate
2.1.D. Change of Address	15 days	✓ Self-Attested valid address Proof of new address
2.1.E. Change of Nomination	15 days	✓ A request letter duly signed by the policyholder, mentioning the new nominee name ✓ Email from registered email id stating name of nominee and relation
3. Claim Settlement	30 days	✓ Death certificate issued by Govt./ Relevant Authority ✓ Death claim form ✓ Bank Details ✓ Original Policy Document ✓ Claimant's Identity & Residence Proof ✓ Medical records at the time of death & past illnesses

Service TAT – General Insurance/ Motor & Two-Wheeler

Policyholder servicing turnaround times are as follows:
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	15 days	Date of receipt of complete documents by the Insurer.
2.1. Change of Policy Terms and Conditions/ Details Change:-
2.1.A. Vehicles details change: Documents required	15 days	✓ Registration Certificate (RC) ✓ Premium (wherever applicable due to change in NCB, IDV, Ownership transfer, CC Fuel type, CNG addition, MFG year, Legal liability for paid driver & model and variant).
2.1.B. Effective date of coverage change:	15 days	✓ Previous year policy
3. Claim Settlement	30 days	✓ Garage Bills (wherever required) ✓ Surveyor Reports ✓ Driver's license ✓ Self-attested copy of the RC Book ✓ Bank Details