COVID-19 disasters have underlined the role technology may play in underwriting insurance policies with telemedical emerging as a quicker, most secure and most guaranteed method to issue insurance for those consumers considering the present atmosphere.
The danger of becoming infected with even the COVID-19 or the novel coronavirus, has reinforced the importance of having adequate life insurance for everybody who’ve financial dependants.
so as to keep social distancing and also to continue to keep off customers the healthcare centers for running a medical evaluation before issuing that a life insurance policy a compulsory norm – insurance companies have relaxed standards and have embraced alternative evaluation methods rather than relying on clinical tests.
Vaidyanathan Ramani, Head – Product & Innovations, Policybazaar.com said normally, a representative of the insurance company visits the candidate to gather blood samples to the necessary medical evaluations.
However, during the nationally lockdown, the insurance firms picked an alternate technique to issue policies to the clients by assessing their credit ratings, utilizing tele-underwriting or relying upon wellness declarations by applicants .
