Several public sector insurers have expedited their claim process in Kerala after the insurance regulator, Insurance Regulatory and Development Authority of India (Irdai), asked for faster settlement of claims in the state that has been ravaged by floods.
Motor insurance is expected to generate largest claims for the companies whereas for crop insurance, the Agriculture Insurance Company (AIC) is expecting claims of about Rs 150-160 million.
Girija Kumar, Oriental Insurance CMD, said: “We have simplified the claim processes in Kerala. We have established various collection centres