Claim Processing in Agriculture Insurance

Some General insurance company limited has out sourced the claim processing of PMFBY proposals pertaining to farmers of Jogulamba District, Telangana for the Rabi season 2016 to OMDC.

OMDC has developed a template to process each individual farmer proposal. M/S Cholamandalam General Insurance Co. Ltd., has provided OMDC with all the hard copies of the proposals along with the enclosed documents.

OMDC has developed a process to verify the proposal details with the supporting documents submitted and verifying the current land records from government websites.

The recommendation for settlement is purely based on the authenticity and correctness of the documents submitted. The rejected claims are reconsidered and processed, on advice of the Insurer, after collecting representation from the farmer and requesting resubmission of revised documents.

The claims processing mostly involves two stages of work :
1. Document verification
2. Data validation
The document verification is a very strenuous job where as the data validation demands meticulous attention.

OMDC boasts about the trained manpower, willing to take up the highly strenuous job, and the system which validates every detail meticulously. With these priced resources OMDC was able to fulfil the Insurer’s requirements within the timeline stipulated by them.