Phonix Insurance

Claim Settlement
Procedure

We are committed to settling your claims swiftly and transparently. Here's everything you need to know about the process.

On receipt of a loss intimation through writing or over telephone, the first step is to verify that:

  1. The policy is in force
  2. The risks under which the loss is reported is covered under the policy
  3. The items of properties affected and location of the same is under the scope of policy

After checking the policy, a claim is registered and a claim number is allocated to the Insured for all future correspondence. A Surveyor is appointed to investigate and report on the cause and extent of loss.

Process Flow

How Your Claim is Processed

A transparent, step-by-step journey from intimation to settlement

01

Loss Intimation

Report loss in writing or by phone. Policy validity is verified immediately.

02

Claim Registration

Unique claim number allocated for all future correspondence.

03

Document Submission

Claim form issued to insured with required supporting documents.

04

Survey & Investigation

Licensed Surveyor investigates and reports on the cause and extent of loss.

05

Claim Settlement

Payment made as recommended by the Surveyor upon document verification.

Documents Required

Required Papers for Claim Settlement

Select your claim type to view the necessary documents

Fire Claim

The following papers/documents are usually required for settlement of this claim:

  1. 1Copy of G D Entry/FIR
  2. 2Stock Report duly Certified by the Bank (in case of Bank Loan)
  3. 3Fire Brigade Report
  4. 4Import/Purchase documents of Fire affected items
  5. 5Statement of a responsible Officer/Staff regarding the incident
  6. 6Copy of Fire Licence
  7. 7Valid papers regarding the Electrical Connection of the Insured Premises
  8. 8Periodic Test Report of Electrical Circuit Board from a competent authority
  9. 9Approval letter from Competent Authority in case of Captive Power Plant
  10. 10Claim Bill showing value of fire affected items (supported by price quotation/Bill)
  11. 11Any other papers depending on circumstances of the loss

Settlement Decision

After receipt of survey report and required papers/documents, if those are found in order, a claim is settled through payment of the amount recommended by the Surveyor.