This document discusses insurance, insurance claims, and e-payments of insurance claims. It defines insurance as a contract between an insurer and insured where the insurer agrees to compensate for losses from insured risks, and the insured pays regular premiums. It explains that an insurance claim occurs when an insurer pays money to a policyholder for a loss covered by their insurance. The document then defines e-payments as the electronic transfer of funds and outlines the steps for e-payment of insurance claims, including submitting claim details and documents to the insurer online or by phone and receiving compensation electronically.

1. What is Insurance?
Insurance is a social device.
Insurance is contract between the
insurer and the insured person.
“Which the insurer undertakes to
compensate the insured for the loss
arising from the risk insured against.
Insured agrees to pay premium
regularly.”
The person whose risk is insured is
called “Insured” or “Assured”. The
person who agrees to compensate the
loss arising from the risk is called the
“Insurer” or “Assure” or
“ Under writer”.

2. What is payment of Insurance claim?
 Claim means “ Recover
the money”.
 If an Insurer pays a claim,
it pays money to a policy
holder because a loss or risk
occurs against which they
were insured.
 They have the use of the
premium money from the
time they receive it until the
time they needs it to pay
claims.

3. What is the E-Payment ?
 E-Payment full form “Electronic payment”.
 E-Payment mean ‘The transfer of funds through electronic or
digital mediums’.

4. E-payment of insurance claims
Step# 1:
 Call the insurance
toll-free number.
 Keep these details
handy:
• submit the loss, cause and
place.
• submit insurance bond.

5. Step#2:
 Upload the photos and documents send to
insurance company.

6. Step#3:
 Insurance company call you and verify the
details:

7. Step#4:
 Your claim the payment and compensate to
loss.

8. Advantages of E-payment insurance claim:
Fast to claim
Easy way to claim insurance
Save the time