Latest news with #PolicybazaarforBusiness
Mint
6 days ago
- Business
- Mint
Policybazaar for Business Introduces 'ClaimSetu': India's First AI-led Claims insights engine for Group Health Claims
Gurugram | August 1st , 2025: Policybazaar for Business (PBFB), the corporate arm of one of India's largest online Insurance platform, has launched ClaimSetu, a breakthrough AI-powered solution to reduce anxiety/unforeseen situations, simplify, and speed up Group Health Insurance (GHI) reimbursement claims. While PBFB has already delivered strong claims support to corporate clients with millions of employees, ClaimSetu takes the experience to the next level, giving quantitative scoring like claim insights approval & scoring around how their claim is expected to be processed. Apart from this is the system, which also helps employees, HR teams, Insurers, and TPAs process claims up to 50% faster with fewer errors and more visibility. It is currently focused exclusively on streamlining GHI reimbursement claims, a process traditionally burdened by delays due to missing paperwork, and lack of real-time updates. Using cutting-edge Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR), ClaimSetu reimagines the entire journey, from document submission to final claim approval, making it faster, more accurate, and far more transparent. 'Reimbursement claims remain one of the tedious processes of group health insurance. With ClaimSetu, we are working on where the friction is highest, in GHI reimbursements, and building a system that removes ambiguity and empowers users with real-time updates,' said Sajja Praveen Chowdary, Director, Policybazaar for Business. 'This is more than automation; it's about delivering clarity and trust at the most critical moment of the insurance experience.' ClaimSetu is proudly built in India, for Indian enterprises, addressing the unique operational and infrastructural challenges of the country's corporate health insurance ecosystem. As India's first homegrown, AI-led claims engine in the B2B insurance space, it marks a leap in digital innovation aligned with the national vision for tech-driven transformation. Today, many GHI reimbursement claims involve over multiple emails, back-and-forth with TPA or the insurer. ClaimSetu changes this with AI-driven document checks, automated validation, instant alerts, and live tracking via WhatsApp, bringing further speed and clarity to the process. The platform identifies and extracts information from documents like bills, prescriptions, and discharge summaries using AI-led classification. It also flags mismatches against policy terms and can detect potential fraud, significantly reducing the administrative burden on HR teams and Insurers. Claims are submitted via familiar channels like Mobile App, email or WhatsApp, with real-time alerts for missing or invalid documents, cutting delays before they begin. Powered by AI, OCR, and NLP, ClaimSetu: Automates document reading from claim forms, pharmacy bills, hospital bills, prescriptions, discharge summaries, etc. Flags missing or incorrect documents in real-time Provides employees with claim insights approval based on Policybazaar's vast historical claims data and constant updates at each step of the claim process. Intelligent claim routing: Assigns claims to appropriate teams based on document completeness, complexity and assistance estimated. ClaimSetu is built with strict adherence to data protection norms, ensuring enterprise-grade security. The platform is also designed to integrate seamlessly with Customer Relationship Management (CRM) systems, Insurer backend systems, and HR tools. In its beta version, while it currently supports GHI reimbursement workflows, ClaimSetu's modular architecture allows for expansion into OPD claims and other categories in the future — making it a future-ready engine for insurance operations across different product lines. By eliminating manual work, reducing turnaround time, and creating a more empathetic claims experience, ClaimSetu is poised to set a new benchmark for enterprise claims handling in India's fast-changing workplace. Note to readers: This article is part of Mint's paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy. Want to get your story featured as above? click here!
Hindustan Times
7 days ago
- Business
- Hindustan Times
Policybazaar for Business Introduces 'ClaimSetu': India's First AI-led Claims insights engine for Group Health Claims
Gurugram | August 2nd, 2025: Policybazaar for Business (PBFB), the corporate arm of one of India's largest online Insurance platform, has launched ClaimSetu, a breakthrough AI-powered solution to reduce anxiety/unforeseen situations, simplify, and speed up Group Health Insurance (GHI) reimbursement claims. While PBFB has already delivered strong claims support to corporate clients with millions of employees, ClaimSetu takes the experience to the next level, giving quantitative scoring like claim insights approval & scoring around how their claim is expected to be processed. Apart from this is the system, which also helps employees, HR teams, Insurers, and TPAs process claims up to 50% faster with fewer errors and more visibility. It is currently focused exclusively on streamlining GHI reimbursement claims, a process traditionally burdened by delays due to missing paperwork, and lack of real-time updates. Using cutting-edge Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR), ClaimSetu reimagines the entire journey, from document submission to final claim approval, making it faster, more accurate, and far more transparent. 'Reimbursement claims remain one of the tedious processes of group health insurance. With ClaimSetu, we are working on where the friction is highest, in GHI reimbursements, and building a system that removes ambiguity and empowers users with real-time updates,' said Sajja Praveen Chowdary, Director, Policybazaar for Business. 'This is more than automation; it's about delivering clarity and trust at the most critical moment of the insurance experience.' Reimagining GHI Reimbursements for Indian Enterprises ClaimSetu is proudly built in India, for Indian enterprises, addressing the unique operational and infrastructural challenges of the country's corporate health insurance ecosystem. As India's first homegrown, AI-led claims engine in the B2B insurance space, it marks a leap in digital innovation aligned with the national vision for tech-driven transformation. Today, many GHI reimbursement claims involve over multiple emails, back-and-forth with TPA or the insurer. ClaimSetu changes this with AI-driven document checks, automated validation, instant alerts, and live tracking via WhatsApp, bringing further speed and clarity to the process. The platform identifies and extracts information from documents like bills, prescriptions, and discharge summaries using AI-led classification. It also flags mismatches against policy terms and can detect potential fraud, significantly reducing the administrative burden on HR teams and Insurers. Claims are submitted via familiar channels like Mobile App, email or WhatsApp, with real-time alerts for missing or invalid documents, cutting delays before they begin. Powered by AI, OCR, and NLP, ClaimSetu: Automates document reading from claim forms, pharmacy bills, hospital bills, prescriptions, discharge summaries, etc. Flags missing or incorrect documents in real-time Provides employees with claim insights approval based on Policybazaar's vast historical claims data and constant updates at each step of the claim process. Intelligent claim routing: Assigns claims to appropriate teams based on document completeness, complexity and assistance estimated. Secure, Scalable, and Future-Ready ClaimSetu is built with strict adherence to data protection norms, ensuring enterprise-grade security. The platform is also designed to integrate seamlessly with Customer Relationship Management (CRM) systems, Insurer backend systems, and HR tools. In its beta version, while it currently supports GHI reimbursement workflows, ClaimSetu's modular architecture allows for expansion into OPD claims and other categories in the future — making it a future-ready engine for insurance operations across different product lines. By eliminating manual work, reducing turnaround time, and creating a more empathetic claims experience, ClaimSetu is poised to set a new benchmark for enterprise claims handling in India's fast-changing workplace. Note to readers: This article is part of HT's paid consumer connect initiative and is independently created by the brand. HT assumes no editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to verify all information independently. Want to get your story featured as above? click here!
Time of India
01-08-2025
- Business
- Time of India
Policybazaar for business introduces ClaimSetu: India's first AI-led claims insights and scoring engine for group health insurance claims
Automates document reading from claim forms, pharmacy bills, hospital bills, prescriptions, discharge summaries, etc. Flags missing or incorrect documents in real-time Provides employees with claim insights approval based on Policybazaar's vast historical claims data and constant updates at each step of the claim process. Intelligent claim routing: Assigns claims to appropriate teams based on document completeness, complexity and assistance estimated. Policybazaar for Business (PBFB) the corporate arm of one of India's largest online insurance platforms has launched ClaimSetu, an AI-powered solution to reduce anxiety/unforeseen situations, simplify, and speed up Group Health Insurance (GHI) reimbursement PBFB has already delivered claims support to corporate clients with millions of employees, ClaimSetu elevates the experience by giving quantitative scoring, like claim insights, approval and scoring around how their claim is expected to be processed. Apart from this is the system, which also helps employees, HR teams, insurers, and TPAs process claims up to 50% faster with fewer errors and more is currently focused exclusively on streamlining GHI reimbursement claims, a process traditionally burdened by delays due to missing paperwork and a lack of real-time updates. Using cutting-edge Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR), ClaimSetu reimagines the entire journey, from document submission to final claim approval, making it faster and transparent.'Reimbursement claims remain one of the tedious processes of group health insurance. With ClaimSetu, we are working on where the friction is highest, in GHI reimbursements, and building a system that removes ambiguity and empowers users with real-time updates,' said Sajja Praveen Chowdary, Director, Policybazaar for Business. 'This is more than automation; it's about delivering clarity and trust at the most critical moment of the insurance experience.'ClaimSetu is proudly built in India, for Indian enterprises, addressing the unique operational and infrastructural challenges of the country's corporate health insurance ecosystem. As India's first homegrown, AI-led claims engine in the B2B insurance space, it marks a leap in digital innovation aligned with the national vision for tech-driven many GHI reimbursement claims involve multiple emails, back-and-forth with TPA or the insurer. ClaimSetu changes this with AI-driven document checks, automated validation, instant alerts, and live tracking via WhatsApp, bringing further speed and clarity to the platform identifies and extracts information from documents such as bills, prescriptions, and discharge summaries using AI-led classification. It also flags mismatches against policy terms and can detect potential fraud, significantly reducing the administrative burden on HR teams and insurers. Claims are submitted via familiar channels like Mobile App, email or WhatsApp, with real-time alerts for missing or invalid documents, cutting delays before they is built with strict adherence to data protection norms, ensuring enterprise-grade security. The platform is also designed to integrate seamlessly with Customer Relationship Management (CRM) systems, Insurer backend systems, and HR its beta version, while it currently supports GHI reimbursement workflows, ClaimSetu's modular architecture allows for expansion into OPD claims and other categories in the future, making it a future-ready engine for insurance operations across different product eliminating manual work, reducing turnaround time, and creating a more empathetic claims experience, ClaimSetu is poised to set a new benchmark for enterprise claims handling in India's fast-changing workplace.
Business Standard
01-08-2025
- Business
- Business Standard
Policybazaar for Business Introduces 'ClaimSetu': India's First AI-led Claims insights & scoring engine for Group Health Insurance Claims
HT Syndication Gurugram (Haryana) [India], August 1: Policybazaar for Business (PBFB), the corporate arm of one of India's largest online Insurance platform, has launched ClaimSetu, a breakthrough AI-powered solution to reduce anxiety/unforeseen situations, simplify, and speed up Group Health Insurance (GHI) reimbursement claims. While PBFB has already delivered strong claims support to corporate clients with millions of employees, ClaimSetu takes the experience to the next level, giving quantitative scoring like claim insights approval & scoring around how their claim is expected to be processed. Apart from this is the system, which also helps employees, HR teams, Insurers, and TPAs process claims up to 50% faster with fewer errors and more visibility. It is currently focused exclusively on streamlining GHI reimbursement claims, a process traditionally burdened by delays due to missing paperwork, and lack of real-time updates. Using cutting-edge Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR), ClaimSetu reimagines the entire journey, from document submission to final claim approval, making it faster, more accurate, and far more transparent. "Reimbursement claims remain one of the tedious processes of group health insurance. With ClaimSetu, we are working on where the friction is highest, in GHI reimbursements, and building a system that removes ambiguity and empowers users with real-time updates," said Sajja Praveen Chowdary, Director, Policybazaar for Business. "This is more than automation; it's about delivering clarity and trust at the most critical moment of the insurance experience." Reimagining GHI Reimbursements for Indian Enterprises ClaimSetu is proudly built in India, for Indian enterprises, addressing the unique operational and infrastructural challenges of the country's corporate health insurance ecosystem. As India's first homegrown, AI-led claims engine in the B2B insurance space, it marks a leap in digital innovation aligned with the national vision for tech-driven transformation. Today, many GHI reimbursement claims involve over multiple emails, back-and-forth with TPA or the insurer. ClaimSetu changes this with AI-driven document checks, automated validation, instant alerts, and live tracking via WhatsApp, bringing further speed and clarity to the process. The platform identifies and extracts information from documents like bills, prescriptions, and discharge summaries using AI-led classification. It also flags mismatches against policy terms and can detect potential fraud, significantly reducing the administrative burden on HR teams and Insurers. Claims are submitted via familiar channels like Mobile App, email or WhatsApp, with real-time alerts for missing or invalid documents, cutting delays before they begin. Powered by AI, OCR, and NLP, ClaimSetu: -Automates document reading from claim forms, pharmacy bills, hospital bills, prescriptions, discharge summaries, etc. - Flags missing or incorrect documents in real-time - Provides employees with claim insights approval based on Policybazaar's vast historical claims data and constant updates at each step of the claim process. - Intelligent claim routing: Assigns claims to appropriate teams based on document completeness, complexity and assistance estimated. Secure, Scalable, and Future-Ready ClaimSetu is built with strict adherence to data protection norms, ensuring enterprise-grade security. The platform is also designed to integrate seamlessly with Customer Relationship Management (CRM) systems, Insurer backend systems, and HR tools. In its beta version, while it currently supports GHI reimbursement workflows, ClaimSetu's modular architecture allows for expansion into OPD claims and other categories in the future -- making it a future-ready engine for insurance operations across different product lines. By eliminating manual work, reducing turnaround time, and creating a more empathetic claims experience, ClaimSetu is poised to set a new benchmark for enterprise claims handling in India's fast-changing workplace. (ADVERTORIAL DISCLAIMER: The above press release has been provided by HT Syndication. ANI will not be responsible in any way for the content of the same.)
Hans India
14-06-2025
- Business
- Hans India
Policybazaar sheds light on insurance framework for lux hotels
As India's luxury hotels increasingly become prone to complex risks and threats, Policybazaar for Business has released a comprehensive whitepaper titled Securing Luxury Hospitality: Mitigating Risks for High-End Hotels. The whitepaper highlights the growing need for custom-built property insurance as risks like natural calamities, liability claims from guests, valet service liability, cyber breaches and operational liabilities become more frequent and financially damaging. From heritage properties to modern resorts, the paper outlines how standard insurance policies often fall short of protecting the complex assets and reputational value tied to premium hospitality. With the luxury hospitality sector projected to grow at a CAGR of 10.10 per cent over the next seven years, the report indicates that this growth is also accompanied by heightened vulnerability. Cyclones along the coast, landslides in hill stations, legal claims arising from service lapses and data breaches affecting millions of guests are no longer rare occurrences but recurring realities. In such an environment, conventional insurance falls short of adequate coverage. Sajja Praveen Chowdary, Head, Policybazaar For Business, said, 'Luxury hotels today are more than just service providers. They are brands built on experience, exclusivity and guest trust. But when a single crisis can undo years of reputation, standard practices simply won't suffice. Our approach is to match the complexity of these establishments with equally nuanced, adaptive coverage that protects what truly sets them apart.' The whitepaper cites the 26/11 terrorist attacks as a pivotal moment for the industry, where comprehensive property insurance helped iconic hotels like the Taj and Oberoi mitigate financial losses and resume operations with minimal delay. In contrast, recent examples of service disputes resulting in Rs2 crore compensation, and cyberattacks targeting sensitive guest data show that these newer risk vectors can be equally disruptive. Keeping up with these new-age risks, Policybazaar for Business offers tailored insurance solutions that go beyond standard protection. These include all-risks policies, modular add-ons, and IoT-enabled coverage that evolves with a hotel's risk profile. The aim is not just to insure against disaster, but to enable faster recovery, protect guest experience and safeguard long-term brand value.
