CLAIMS SETTLEMENT OPERATIONS: VIEWS AND OPINIONS

Abstract

The insurance is a contract between two parties which defines the terms and conditions also, so language used in the contract has an important role. Similarly few experts have given their opinion regarding problem faced during the settlement procedure and suggest a good redressal machinery for this purpose. Views and opinions taken from primary sources regarding level of satisfaction among customers for services rendered by both public and private sector company shows that private sector including Bajaj Allianz has shown more satisfaction level in comparison to LIC although with a marginal percentage. The satisfaction level includes consumption of time, level of harassment, number of enquires made and documents required.