India is going big on digital money and cashless transactions. Nowadays from auto drivers, vegetable vendors to supermarkets, everybody prefers cashless payment method. So why not in insurance services! Cashless mode of transaction was first introduced in Health Insurance sector. Customers were initially a little resentful towards the facility, but eventually it gained popularity after experiencing its benefits. Many hospitals in the country prefer cashless mode of transaction in case of emergencies or otherwise.
Not everyone can afford luxury medical treatments or best car services in case of accidents or mishaps. Many of us are not equipped with emergency financial backups, because all of us like to believe that everything is going to okay. But in few unfortunate times, this may not be true. In such situations, cashless insurance policy is a savior. After the successful application in Health Insurance sector, cashless insurance service was implied in every other sector including car insurance.
Most companies today offer cashless transactions with the insurance policy. As the name suggests, if the policyholder needs emergency car service or he/she has been in an accident, they do not have to pay money either in the hospital or in the garage to avail the facility. Every insurance company will have a network with garages and hospitals across the country in various locations, where they can send help to policyholder’s location. These officials will take care of all the repair work or medical facilities without the policyholder having to pay a penny.