Bhubaneswar: The Odisha development commissioner cum additional chief secretary Ms. Anu Garg Wednesday pulled up the insurance companies for poor PM Fasal Bima claim settlement.
She was addressing the first meeting of State Level Insurance Committee (SLIC), held here on Wednesday.
Presiding over the meting,Ms. Anu Garg instructed the concerned insurance companies to settle all claims immediately.
” In today’s meeting focus was laid on issues related to poor claim settlement under PM Fasal Bima Yojana. The Committee noted this seriously and instructed the concerned insurance companies to settle all claims on top priority”, said an official press release.
Ms. Garg further advised all insurance companies to ensure ease of insurance for common masses, devising affordable insurance products, bridging the trust deficit between insurer and insuree, simplifying the procedure by using technology driven platform, Al based mechanism for quick and maximum claim settlement and a robust grievance redressal mechanism to strengthen insurance eco system of the State.
The DC urged SLIC to function as a tripartite institutional mechanism involving the Insurance Regulatory Development Authority of India( IRDAI), State government and the insurance companies and to set a gold standard in the insurance sector as SLBC is in the banking sector.
The SLIC as a forum will assess the insurance coverage of the State and suggest measures to deepen the insurance penetration to achieve the goal Insurance for All by 2036.
The Committee decided out of the four lead insurers appointed by IRDAI for the State like Bharti Axa Life, Shriram General Insurance, LIC of India and Zurich Kotak General Insurance, LIC to be the nodal lead insurance company for SLIC. The committee also suggested to constitute relevant sub committees to address the issues pertaining to various sectoral insurance like Life, Crop, Motor, Health etc.
Member Secretary, IRDAI, Satyajit Tripathy; chairman, LIC, Siddhartha Mohanty; Regional Director, RBI, S.P. Mohanty; MD cum CEOs of 4 Lead Insurers, M. Jagannath, LIC; Parag Raja, Bharti Axa Life Ltd; Anil Kumar Agarwal, Shriram General Insurance Ltd; Alok Kumar Agarwal, Zurich Kotak General Insurance Ltd, Odisha principal secretary, finance, Saswat Mishra, agriculture principal secretary Dr Arabinda Kumar Padhee, secretary Ms. Guha Poonam Tapas Kumar and director, Institutional Finance, Dr. Pragyansmita Sahoo were present in the meeting
