HDFC ERGO AND RIVIGO TO PROVIDE RAPID CLAIM SETTLEMENT OF MARINE INSURANCE

by Shrutee K/DNS

Mumbai, 22^nd February, 2017: HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, has entered into an agreement with RIVIGO, India’s leading logistics solutions provider, to provide Real-time Policy Issuance and Rapid Claims Settlement (RCS) for Marine Insurance policies for RIVIGO’s customers. Through this tie-up, the aim is to ensure the efficiency in policy issuance and delivery process as well as cut down on physical processes in claim settlements.

RIVIGO’s Consignment Note preparation process will be integrated with HDFC ERGO’s policy issuance process. This will facilitate real-time issuance and delivery of the policies to RIVIGO’s customers through emails. Further, with Rapid Claims Settlement (RCS), the claim settlements will become a real-time process. RCS will incorporate image-based processing which will replace the existing process of using external surveyors for small value claims leading to speedy decision-making in claim settlements. The payment of claims will also be done using digital methods, eliminating the delays involved in physically preparing and sending cheques. Surely this will usher in a digitally delightful experience for the customers for RIVIGO.

Talking about the tie-up, Mr. Mukesh Kumar – Executive Director, HDFC ERGO General Insurance Company said, “It is our constant endeavour to better our services and we strongly believe in the power of technology, which facilitates the smooth functioning of businesses. We continuously explore opportunities where we can leverage technology and alliances which will enhance our service experience for the customers. Our agreement with RIVIGO is a step in this direction to offer an unmatched service experience to their customer’s, right from policy issuance to the settlement of claims rapidly.”

Speaking on the agreement, Mr. Apoorv Gautam, Head of Strategic Initiatives, RIVIGO said, “Rapid Claim Settlement is going to be a true game changer in the logistics industry. The product’s inherent value proposition of ‘Rapid Policy Issuance and Claim Settlement’ is unique and so strong that it will soon be the gold standard. This aligns with our value proposition of constant innovation and delivering best in class service to clients. Globally, we are the first company to rollout Rapid Claim Settlement - using technology smartly to enable this. We aim to build a world class product for our customers and create a benchmark in customer servicing in the logistics industry.”

About HDFC ERGO: HDFC ERGO General Insurance Company is a 51:49 joint venture between HDFC Ltd.; India’s premier Housing Finance Institution and ERGO International AG; the primary insurance entity of the Munich Re Group of Germany. HDFC ERGO is India’s third largest non-life insurance provider in the private sector. The company offers complete range of general insurance products ranging from Motor, Health, Travel, Home and Personal Accident in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space. HDFC ERGO is expanding its network across the country and is today present in 108 branches spread across 91 cities with an employee base of over 2000 professionals. The Company also has a wide distribution network besides its own direct sales force.

About RIVIGO: Gurgaon-based RIVIGO is technology-enabled logistics company that aims to deliver reliability through its network and provide transparency to its clients. Founded in 2014, RIVIGO has been disrupting the sector, with its unique operational model and cutting-edge technology, to consistently provide unparalleled delivery times to its clients while improving quality of life of its delivery people. Its innovative operating model ensures that it delivers goods in unprecedented delivery time across locations, every single time, enabling them to provide superior service to its clients. Rivigo aims to give air shipments by road whilst its entire philosophy is based on making logistics human.