Plum Unveils 'E-imburse' For Reimbursement Claims, Reducing Processing Time to 1 Hour

Plum an insurtech platform has launched ‘e-imburse’, a digital-first solution for reimbursement claims , the company said in a press statement on Thursday.

Traditionally known to be a cumbersome process, reimbursement claims are a type of claim where the employee pays for the medical cost and treatment upfront and later claims the expense from the insurance provider. "To process a reimbursement claim, you must submit a duly completed and signed claim form, original hospital bills including prescriptions and pharmacy receipts, diagnostic and lab reports, medical certificates signed by your doctor, and the original discharge summary. These documents collectively provide the necessary evidence to support your claim for medical expenses" the company said.

Industry-wide reimbursements form 40 per cent of overall health claims and we have observed a similar trend at Plum, the statement from the company read.

Plum's user-centric approach reduces the reimbursement claim process time from 7 days to just an hour. 'E-imburse' introduces paperless efficiency, eliminating the need for physical forms and bills. Its user-friendly interface ensures a seamless experience for policyholders, while enhanced security, including optical character recognition (OCR) technology, safeguards sensitive information and boosts claim settlement efficiency, the company added.

Saurabh Arora, Co-Founder and CTO of Plum, stated, "The Indian insurance industry is undergoing a tech transformation from the ground up, and Plum is leading the way in driving these advancements. At Plum, our mission is to develop technology products that benefit not only policyholders and insurance partners but also elevate the entire insurance landscape. ‘E-imburse’ is a testament to that commitment. Plum is taking distinct steps to simplify insurance, making it more accessible and understandable for everyone."