VMPL
Bengaluru (Karnataka) [India], September 23: A health insurance policy is rarely tested when it is bought. It is tested when a family is in a hospital, a cashless request is declined or a reimbursement claim gets stuck, and someone has to figure out what to do next.
That is where NYVO Insurance believes the relationship between an insurance advisor and a customer should not end.
NYVO Insurance, an IRDAI-registered corporate agent, today launched its Claim Support Guarantee, extending its support to customers throughout the life of their health insurance policy. Customers who buy a health insurance policy through NYVO will receive end-to-end support when they make a claim, including help with documentation, insurer queries, follow-ups and escalation where required.
And if a genuine claim is ultimately refused despite NYVO’s efforts to get it paid, NYVO will return the premium the customer has paid for the policy.
The idea comes from a simple question: what happens after the policy is sold?
For most customers, buying health insurance is the end of the conversation. They compare premiums, understand the coverage and receive their policy document. But the moment that determines whether the policy was actually useful comes much later, when the customer needs the insurer to pay.
“Buying a policy is only half the job. The real test is what happens when you need to use it. If we advised a customer to buy a policy, they made a genuine claim and we could not get that claim paid, then we have to take responsibility for the advice we gave. We should not be keeping their money,” said Harsh Soni, Founder, NYVO.
Under the Claim Support Guarantee, NYVO’s advisors will support customers through the claims process from start to finish. This includes helping with documents, responding to insurer queries, following up on the claim and escalating the matter to the insurer’s grievance cell and, where warranted, the Insurance Ombudsman.
The guarantee applies to both cashless and reimbursement claims on health insurance policies purchased through NYVO. If a genuine claim remains refused after NYVO has supported the customer through the process, NYVO will return the premium paid on that policy.
The commitment continues for as long as the policy runs. It does not end when the policy is issued or when the sale is completed.
“The important part of this guarantee is not the refund. It is the fact that we stay involved and support the customer, until the claim is resolved. Every claim we work on is a claim we may ultimately have to stand behind. That changes how we think about the policies we recommend in the first place, because we are the ones who have to help make them work when the customer needs them,” said Shadab Sayeed, Head of Insurance Business and Claim Support, NYVO.
NYVO's position is that this should be the industry's standard, not its differentiator - if a customer's genuine claim is not approved, the advisor has not done the job and has no business keeping the money. That makes buying through NYVO risk-free. The customer pays the same premium as anywhere else, and gets their money back if a genuine claim is refused.
The Claim Support Guarantee is available for health insurance policies purchased via NYVO. Customers pay the same policy premium they would otherwise pay and there is no additional charge for the guarantee.
About NYVO
NYVO Insurance Services LLP is an IRDAI-registered Corporate Agent (Composite), based in Bengaluru. NYVO advises Indian families on health and term insurance, comparing plans across more than 30 insurers. The company has served over 3,000 families.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
