Edelweiss Tokio CSR
  • CSR of the Company
  • Types of Claims
  • Claim Filing Process
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Edelweiss Tokio Life Insurance Claim Settlement Ratio

The claim settlement ratio is a parameter used to quantify the percentage of life insurance claims a company has settled during a financial year against the number of claims it has received including outstanding claims from the previous year. The claim settlement ratio of a life insurance company is a predominant element to consider when buying an insurance policy. A company with a higher claim settlement ratio is considered more reliable, as they make a great effort to settle the claims by providing fast service.

Edelweiss Tokio Life Insurance Claim Settlement

As per IRDAI, Edelweiss Tokio Life Insurance Claim Ratio is 98.09%. Edelweiss Tokio Life Insurance Company was formed in the year 2003, even though the company is an infant in the insurance market, it has traveled milestones in the field of life instance. It is a challenge for life insurance companies to remain in the top bracket in the claim settlement ratio table and Edelweiss Tokio Life Insurance company has managed to maintain a claims settlement ratio of 98.09% for the FY 2021-22.

Types Edelweiss Tokio Life Insurance Claim Settlement Process

Edelweiss Tokio Life Insurance claim-settlement processes are of two types, made for its customers depending on their convenience. Let’s take a detailed look at both the claim-settling processes.

  • Online Claims Settlement
  • Offline Claims Settlement

Other Life Insurance Claim Settlement Ratio

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Edelweiss Tokio Life Insurance Online Claim Settlement Process

Edelweiss Tokio Life Insurance has a simple online claim process. The claim request and documents are assessed by the claims team of Edelweiss Tokio Life Insurance, the claims can be requested online on the website or on their mobile app ‘Edelweiss Tokio Life Insurance, by following these 3 simple steps:

Step 1: Reporting Claim: The claimant has to visit the official website of Edelweiss Tokio Life Insurance and then register the insurance claim. There he/she has to fill in all details such as name, contact telephone number, and insurance policy number.

Step 2: Submit The Documents: The next step is the submission of the necessary documents, depending on the type of claim such as a death claim, health claim, and critical illness claim. After submitting the documents, the Edelweiss Tokio Life Insurance Company processes the claim. If required the company reserves its right to ask for additional documents.

Step 3: Claim Decision: Edelweiss Tokio Life Insurance Company after rectification, asserts to settle the claims within 24 hours of the submission of the document. The claim amount is transferred to the claimant’s bank account.

Edelweiss Tokio Life Insurance Offline Claim Settlement Process

Besides the online channel, Edelweiss Tokio Life Insurance offers two offline ways to register a claim. Let us have a quick look at the offline process. The nominee can call customer care toll-free and notify the claim. On the other hand, the claimant can visit the nearest branch of Edelweiss Tokio Life Insurance and report the claim to the executive. The process of submission of the documents and the decision on the claim is the same as an online process as mentioned above.

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Life Insurance FAQs

Life Insurance FAQsSeptember, 2021

Edelweiss Tokio Life Insurance CSR: FAQs

1. How can the claimant get the status of my Submitted Edelweiss Tokio Life Insurance policy claim?

Edelweiss Tokio Life Insurance claims status can be known in two ways: Calling on the company’s Toll-Free number or by sending an email to the company.

2. Does Edelweiss Tokio Life Insurance policy cover Covid-19 claims?

Edelweiss Tokio Life Insurance policy covers three types of claims and they are-

  • Death Claims including CoronaVirus
  • Health Claims - Hospitalization due to CoronaVirus.
  • Critical Illness (CI) Claims: CoronaVirus is not covered under Critical Illnesses.

3. What is the name of the application of Edelweiss Tokio Life Insurance Company?

The name of the application of Edelweiss Tokio Life Insurance Company is ‘Edelweiss Tokio Life Insurance’.

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Bindiya Sinha

Written By: Bindiya Sinha

Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.