Bajaj contributes 2 crore to Kerala floods

Two-and three-wheeler maker Bajaj Auto has announced a contribution of Rs 2 crore to Kerala that has been ravaged by the worst floods in a century.

The company said this amount is in addition to the Rs 50 lakh already contributed by various Bajaj Trusts. Of the Rs 2 crore, Rs 1 crore is being credited to the chief minister's relief fund and the balance amount will be deployed by Jankidevi Bajaj Gram Vikas Sanstha to distribute survival kits under which it aims to support at least 1,000 families with a basic startup kit for those who have been affected by the floods.

HDFC Life offers to cover up to 85 years * Private sector HDFC Life has launched a new product offering cover to a maximum age of 85 from the earlier 75 years and a policy term to 50 years from the earlier 40.

The policy also comes with a critical illness plus rider, under which it has increased the payout by three times up to Rs 1.5 crore, HDFC Life said in a statement today. Called protect 3D plus, the new version offers a lifelong option wherein premium payment term is now up to 75 years, making the product more affordable.

ICICI Lombard to use AI for claim approvals * Private sector ICICI Lombard has launched an artificial intelligence-based technology to facilitate instant claim approval which lowers the claim request that takes an average of 60 minutes of processing to just a minute.

The company uses algorithms using cognitive computing along with intelligent character recognition and optical character recognition in this tech-enabled innovation for the new customer offering.

For policyholders, this would mean instant cashless processing of their requests thereby ensuring that they avail of immediate treatment.

This solution will make claims processing faster, consistent and convenient for our customers, significantly enhancing their claim experience, ICICI Lombard said in a statement today.

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