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Online Processing
This means the processing of documents via web or the internet and not the conventional over the counter method. It involves making use of the internet to receive, sort, categorize and file the various travel insurance applications and other documents as well as checking them for accuracy, eligibility and current feasibility.
The process involves making use of the internet. It means that the customer who wants to take travel insurance has to visit the relevant website of the company that is offering travel insurance. He has to sort through a variety of insurance plans that he will find on the site to get to one that is appropriate to him. He then has to weigh the various factors like fees, premiums, time period of insurance, and decide which plan is suitable. There are plans available that cover everything from a simple overnight journey to a vacation in Hawaii or a ship cruise. Once he has selected a plan he has enter all his personal and official info into as well as the name of the plan. Some of the personal data that would be included is age, state of health, personal income etc. He could also be asked for which company he's working and if they have any official scheme of insuring their employees. Once he sends the info across to the insurance company, they will begin the online process. They will scrutinize the documents to check for eligibility. Details given will be cross checked to verify their truthfulness. They will also be used as a yardstick to determine if the candidate can qualify or not. Finally if the insurance company is satisfied it will ask the candidate to pay the required amount via the net. The candidate can use his credit or debit card to make his payment or he can use some other service like Pay Pal. Once the payment has been made it is understood that the insurance company and the individual have entered into a contract that will be mutually beneficial More Glossary Terms Explained here |
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