A STUDY ON CLAIM SETTLEMENT AND POST-CLAIM MANAGEMENT SYSTEMS IN GENERAL INSURANCE ORGANISATIONS AT SBI

Abstract

Claim settlement represents the most critical operational function of any general insurance organisation, serving as the ultimate measure of policy value delivery and a primary determinant of customer trust, retention, and regulatory compliance. SBI General Insurance Company Limited, a joint venture between State Bank of India and Insurance Australia Group (IAG), operates a diversified general insurance portfolio spanning motor, health, home, travel, and commercial lines. This study examines the claim settlement process and post-claim management systems at SBI General Insurance, analysing claim intake workflows, survey and investigation procedures, loss assessment frameworks, settlement decision mechanisms, grievance redressal processes, and post-claim customer engagement practices. Primary data was collected through structured interviews with 12 SBI General Insurance claims officers and a questionnaire administered to 100 policyholders who had filed claims across different product lines. Secondary data was sourced from IRDAI Annual Reports (2021– 2024), SBI General Insurance published disclosures, Insurance Ombudsman case records, and academic literature on insurance claim management. The study evaluates claim settlement ratio, turnaround time, rejection rate, and customer satisfaction metrics across motor, health, and property insurance segments. Findings reveal that SBI General Insurance maintains a claims settlement ratio of 96.4% with an average turnaround time of 8.2 days for noninvestigative claims, while post-claim management systems including follow-up communication, grievance escalation, and customer retention interventions demonstrate measurable impact on policyholder loyalty. Recommendations address digital claim processing adoption, surveyor quality enhancement, and proactive post-claim engagement programme development