What is an insurance claim?

An insurance claim is a formal request made by the policyholder to their insurance company for compensation or coverage for a covered loss or damage as specified in their policy. This can include incidents such as accidents, health issues, property damage, or theft.

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What documentation do I need to file a trip cancellation claim?

You typically need proof of cancellation (e.g., airline notices), medical records (if illness-related), receipts for prepaid expenses, and any other supporting documentation required by your insurer.

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How much does third-party insurance cost?

The cost of third-party insurance depends on factors such as the type of coverage, risk exposure, policy limits, and legal requirements in the insured’s location.

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What is Insurtech?

Insurtech, short for "insurance technology," refers to the use of technology such as AI, big data, blockchain, and IoT to improve and streamline the insurance industry. It enhances customer experience, reduces costs, and makes processes like underwriting, claims processing, and risk assessment more efficient.

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What is critical illness insurance, and what does it cover?

Critical illness insurance provides a lump sum payment if you’re diagnosed with a serious illness such as cancer, heart attack, or stroke. It helps cover medical costs or lost income during treatment.

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Does indemnity insurance cover liability claims?

Yes, liability indemnity insurance compensates third parties for damages or injuries caused by the policyholder, preventing financial burden on the insured.

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What is Employer’s Liability Insurance?

Employer’s Liability Insurance protects businesses from financial losses if an employee sues due to a work-related injury or illness. It covers legal defense costs, settlements, and compensation that may arise from claims of negligence by the employer.

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Can private health insurance be used in conjunction with public health insurance?

In many countries, private health insurance can be used alongside public health insurance, providing additional coverage for services not included in the public plan. This is known as "top-up" or "supplementary" insurance. It can help reduce out-of-pocket expenses for services like dental care, vision, or elective treatments. However, the use of both types of insurance depends on the country's regulations.

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