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IRCTC Introduced Diwali Bonanza of Rs. 10 lakh Travel Insurance for 1 Paisa

IRCTC Introduced Diwali Bonanza of Rs. 10 lakh Travel Insurance

Many Smartphone companies, Telecom industries, Airlines, Online shopping websites, etc., have introduced the festive sale offers to attract the customers. Recently the Indian Railway has joined the list, by introducing Diwali Bonanza of travel insurance scheme.

Indian Railway Catering and Tourism Corporation have launched the scheme in the month of September. Ahead of Diwali Bonanza, rail passengers can avail this travel insurance of Rs. 10lakh for just one paisa from tomorrow.

The optional travel scheme will be available for the passengers for one paisa from 7th October instead of 92 paise which was announced earlier. The number of rail passengers opting for the travel scheme since it launched on 1st September has increased.

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As per the IRCTC, the reduced premium amount of one paisa from 92paise has scheduled for a temporary period. Under the scheme which was offered by the Indian Railway Catering and Tourism Corporation, the reduced premium amount will be applicable for the tickets that are booked until 31st October.

“We have decided to implement the reduced price for the optional travel insurance scheme with immediate effect. It is a special promotional measure and the idea is to facilitate more and more rail travellers avail this scheme,” IRCTC Chairman and Managing Director A K Manocha said, adding “It is a Diwali bonanza for our patrons.”

He also informed that 1, 20, 87,625 train passengers are opted for this scheme till 8 AM today. The system which was introduced in the last month, one crore passengers has accepted until 29 September.

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“The optional insurance scheme is a passenger-friendly measure, and the way it is being opted for by rail travellers are a proof of its growing popularity,” Manocha pointed out.

Through this offer, travellers or their families will get Rs. 10lakh in the case of death or total permanent disorder, Rs. 7.5lakh for the permanent partial disorder, Rs. 2lakh for hospitalisation expenses and Rs. 10,000 for the event of death or injury in train accident or another untoward incident including terrorist attacks, shoot-out, etc.

The travel insurance facility is available for the passengers by booking train tickets through e-ticket excluding suburban trains and irrespective of class of the tickets. This special travel scheme is implemented in partnership with ICICI Lombard, Shriram General and Royal Sundaram.

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A passenger who is eligible for the insurance, the claim and reliability are between passenger and insurance company. In a case of death due to an accident, the sum amount of money will be paid by the company.

IRCTC To Launch Passenger Insurance And Unreserved Ticketing From September

IRCTC To Launch Passenger Insurance And Unreserved Ticketing

Indian Railway Catering and Tourism Corporation (IRCTC) is soon going to come up with advanced services to comfort the rail passengers. In the mode of up gradation of existing services, IRCTC on Monday announced that it would soon introduce new services which include Passenger insurance and Unreserved Ticketing.

Arun Kumar Manocha, Chairman and Managing Director of IRCTC in a statement said, “We are going to start passenger insurance soon and have already issued letter of award. We have short-listed three companies. The insurance would be less than Rs 2 per trip for a sum insured of Rs 10 lakh.”

According to the reports, among a huge list, three leading insurance providers of the nation are short-listed-Shriram General, Royal Sundaram and ICICI Lombard General Insurance. Insurers will provide ‘Travel insurance’ to the rail passengers. This travel insurance is the amount paid to the passengers in addition to the compensation paid by Indian Railways to the reserved or ticket holders in case of any accidents.

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“At the moment, the insurance offer is under integration process, and we expect it will be operationalised from September,” said Manocha. Currently, only airlines in the nation provide such travel insurance to their passengers while reserving the tickets. Sanjay Datta, Chief-underwriting and claims at ICICI Lombard, said that the insurance coverage would be against accident, disabilities and hospitalisation too.

The other plans of the IRCTC initiatives include Unreserved Ticketing feature on the official website. The feature is not yet clear but is expected to start in the month of September. If we remember, earlier an exclusive app for booking unreserved tickets was introduced by IRCTC.

On Friday, IRCTC and State Bank of India partnered to add an e-wallet ‘Buddy’ that allows passengers to make digital payments during booking of tickets. He said that the e-wallet should be launched by Dussehra or Diwali in October.

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Manocha said that IRCTC works with several private and public sector institutions and Central Food Technological Research Institute (CFTRI)-Mysore and Institute of hotel management, Catering and Nutrition-Pusa, New Delhi to provide better services to the passengers

Manocha also stated that they are working on to integrate Android software into IRCTC, which makes the cancellation of tickets and refund of amount easy. Besides he also stated that “The failure for card payment is only 2-3 per cent because of the pathway issues. We are hoping to launch e-wallet in the renewed form. It will be made free for the first three months. Currently, it is linked to the pan card and it will also be linked to the Aadhaar card soon.”

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