Anand Singh

Unjust Claim Denial by ICICI Lombard and Lack of Support from Policybazaar.com After maintaining a health policy with Niva Bupa for 2 years, we ported to ICICI Lombard through Policybazaar.com in July 2024. The policy document was issued on 9th July 2024, while the policy start date was 28th August 2024. At the time, my mother, Suman Singh, had no pre-existing conditions. On 26th August, she was diagnosed with spondylitis for the first time, and initial treatment was completed in September. Despite submitting all required documents, ICICI Lombard denied the claim, citing non-disclosure of a pre-existing condition. This is completely baseless, as the diagnosis occurred after the issuance of the policy document on 9th July. This feels like a clear case of misrepresentation and unfair treatment by ICICI Lombard and Policybazaar.com has been equally unhelpful, despite being informed about the diagnosis immediately. Sarbvir Singh Sanjeev Mantri Yashish Dahiya Gopal Balachandran Here are the policy and claim details for reference: Policy Number: 4225I/P-ELVT/351232465/00/000 Claim Number: 220101208673 Date of Diagnosis: 26/08 (by examination) Community Question: Has anyone experienced a situation where a health insurance policy was ported after maintaining it for 2 years, and the insurer denied a valid claim for a condition diagnosed after receiving the policy document but before the policy start date? Any guidance or similar experiences would be helpful. #HealthInsurance #Fraud #UnfairDenial #ICICILombard #Policybazaar #PolicyPorting

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#bharat #instaraksha #insurtech #insuretech The article discusses the impact of Insurtech on the insurance industry in India. It highlights how advanced technologies like AI, blockchain, and IoT are transforming claims processing, risk management, and customer engagement. #advancedtech #AI #Blockchain #IOT #Claims #Claimsprocessing #RiskManagement #CustomerEngagement #HealthClaims #MotorClaims #InsuranceClaims #LifeClaims 😊 Happy To Review Your Corporate & Personal Insurance Portfolio - Let's Connect - Whatsapp/Call @ 9324271134 #Corporate #EmployeeBenefits #GroupMediclaim #GroupPersonalAccident #GroupTermLife #PersonalInsurance #MotorInsurance #HealthInsurance #TravelInsurance #TermLifeInsurance

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Dr.Sandeep Dadia insightful article emphasizes the critical role of Total Cost of Risk (TCOR) strategies in modern risk management 🌐, highlighting the importance of comprehensive approaches for today’s complex environment. In an evolving risk landscape, adopting a robust TCOR strategy is essential for financial stability and resilience. TCOR involves all risk-related expenses, such as insurance premiums 💰, retained losses, risk control costs 🛡️, and administrative expenses 🗂️. By implementing a holistic approach, companies can gain a full view of their risk profile, leading to informed decision-making and optimized resource allocation 🔄. Integrating AI and ML for Enhanced TCOR: AI and ML can elevate TCOR strategies 🤖. Predictive analytics assesses historical data 📊 to forecast potential future risks, enabling proactive measures. ML detects patterns and anomalies 🔍, helping identify emerging risks and fraud 🚨. AI-powered automation streamlines tasks, reducing costs and boosting efficiency ⚙️. ✨ Generative AI-Powered Solutions for TCOR: Generative AI takes TCOR to the next level by enabling innovative solutions. Generative AI also simulates risk scenarios 🌐, enabling precise outcome modeling and proactive strategy development. It can produce "what-if" assessments 🔧 and create comprehensive reports, helping risk managers make informed, swift decisions 🚀. By leveraging AI, ML, and generative AI, organizations can make their risk management more agile and adaptive 🌟. What’s your take on the role of generative AI in risk management? Would you integrate it into your TCOR strategy? 🤔 Comment below! #RiskManagement #TCOR #AI #MachineLearning #GenerativeAI #Insurtech #FinancialStability #Innovation #FutureOfRisk

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Next generation product at your doorsteps...

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Trending this week 📈 #ITtrending Ageas UK appoints head of claims data and analytics The insurer said the promotion would see the appointee become a “key enabler” in its drive to become a market leader for data and data analytics Yiannis Kotoulas #insurance #insuranceindustry #insurancenews #ukgi #insurers #brokers https://lnkd.in/eUzfJEeP

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Reducing operational costs for customers ➡️ Reducing losses for insurers ➡️ Across any high footfall environment - airports, retail, rail, healthcare and many others too ⬇️ Sound good? By reducing costs, increasing value and enhancing customer experience - everyone gets what they want. And what they need. Now that's worth looking into. Let's talk...

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**Importance of Life Insurance for a Family** **திருக்குறள்:** **"தன்னுயிர் தற்காத்தல் சார்ந்தது பிறருயிர் பொறுத்தல் அதுவே மிகும்."** - திருக்குறள் 312 **Thirukural Explanation:** Securing your own life is essential, but even more important is caring for the lives of others. In the context of modern life, this Thirukural emphasizes the significance of life insurance. Life insurance is a crucial safety net that ensures the financial stability of a family in the event of the unexpected. It provides peace of mind, knowing that your loved ones will be taken care of, covering expenses such as education, mortgage, and daily living costs. Investing in life insurance is an act of love and responsibility, safeguarding your family's future and ensuring their well-being. It allows your family to maintain their standard of living, even in your absence, demonstrating the highest form of care and protection. #LifeInsurance #FamilyFirst #FinancialSecurity #PeaceOfMind #Thirukkural #LoveAndResponsibility 💖🏠👨‍👩‍👧‍👦Bharti AXA Life Insurance

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Building global solutions for the P&C market underpinned with insightful analytics

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Here are some quick wins QBE Insurance achieved with IBM Apptio: - Reduced time taken for budgeting from half a month to 2-3 days - Enabled comprehensive spend vs. budget analysis on a global scale - Unlocked complete visibility into costs, producing product TCO and showback Dave Roush, AVP of QBE Insurance explains more: https://bit.ly/3VQQp1L

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#monsoonsafetytips #instaraksha Please do go through the attached essential monsoon tips to keep your car protected. Review your car insurance policy on every renewal. Happy to Help :-) Multiple Motor Insurance Plans & Add Ons Available - Connect @ 9324271134 #motor #motorinsurance #carinsurance #safety #monsoondriving #rainydays #renew #addons

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Niva Bupa Health Insurance …these guys are openly doing fraud…looks like, I have faced similar issue. I have submitted required documents and paid out of my pocket ~5L. And sent tons of emails no concrete answer. Senior Claim officers are useless, I don’t know how they are getting salaries!! Policybazaar.com also part of this scam!! Insurance Regulatory and Development Authority of India ‼️Beware of these two companies ‼️ #fraud #scam #irdai #insurance #insurenceregulatoyofindia #IRDAI

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Yesterday, our CEO, Paul Templar, had the privilege of speaking on a panel at the Guidewire Software London Market Update 2024 event with Bent Isachsen, Chief Operating Officer at Hamiton Insurance Group and chaired by Mark Phillips VP of Analytics at Guidewire. Paul discussed the evolution of underwriting in the delegated space, highlighting how automation and data-driven decision-making are accelerating the markets progression. We’re seeing a strong shift towards automating data handling and real-time insights for better program performance, and it’s exciting to be part of the discussions! With over 50% of #Lloyd's #Managing #Agents signed up for VIPR's INTRALI we are confident the overall market will see vast improvements in the months and years ahead. Tony Russell Jamie McDonnell #InsuranceTech #LondonMarketUpdate #Guidewire #UnderwritingAutomation #VIPR #InsurTech #DelegatedAuthority #DataDriven

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Interesting read if you have a spare moment. 👨‍💻 Following on from my last post regarding AI, I found this article sharing how Guidewire are helping insurers with processing of claims...

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#IndianInsurancebytes #7 Today, I am sharing insights on the Indian non-life insurance market and the market share of the top players in the non-life industry. The Indian general insurance industry seems more fragmented than the life insurance industry. There can be many interpretations of this; one key interpretation, in my opinion, is that the brand value of insurers commands significance for life insurance products (LIC still holds over 60% market share in new business premiums), whereas in general insurance, the top 5 players account for just shy of 50% of market share. General insurance products, mainly motor insurance, are majorly driven by pricing as there is hardly any product differentiation across insurers. Also, given that general insurance products are mainly one-year contracts as compared to life insurance products, which are multi-year or lifelong contracts, customers are more inclined to look beyond pricing. Comments and feedback are welcomed. #indianlifeinsurance #indiangeneralinsurance #indianinsuranceindustry #insurancebytes

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Meet 2 of our co-founders, Sri Ramaswamy and Rama Venkat, at the Rise Awards to learn more about how Charlee is reshaping the claims landscape while reducing costs and optimizing processes. #Claims #Optimization #RiseAwards #CharleeAi

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Considering the prevailing pricing norms and the enticing coverage options offering substantial increases in the sum insured, does it financially benefit health insurers in the long term to offer such plans? https://lnkd.in/dhYs-eKM

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💡 Across the insurance value chain, organisations are investing in data, analytics and AI capabilities to improve the customer experience, deliver efficiencies and drive the innovations that will enable growth and create sustainable competitive advantage. However, successfully implementing data-driven initiatives presents people, process and technology challenges that can erode benefit, add cost and inhibit ROI. 🚀 Attend Data Jam to explore how and where data can be harnessed within your organisation, overcome the operational obstacles to effectively use AI, and leave with best practice techniques to enable you strategy. With over 25 sessions to choose from, you create the agenda that meets your needs: https://lnkd.in/eGU7AnJm Register today: https://lnkd.in/eqdE3VYt

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