Policyholders can approach insurer, IRDAI for redress of insurance-related grievances: Govt
New Delhi, Aug 14
The Finance Ministry on Friday issued an advisory for customers on the steps they need to follow for the redress of insurance policy-related grievances.
The Insurance Regulatory and Development Authority of India (IRDAI) mandates a strict, time-bound process for resolving policyholder issues. Customers facing unfair claim rejections, delays, mis-selling or other service-related issues are advised to follow a defined escalation path, which starts at the level of the insurance company and then moves up to IRDAI's Bhima Bharosa portal.
The Grievance Redressal Officer (GRO) of the insurer is the nodal officer for dealing with grievances. Every office of the insurer is mandated to designate one of its officials as Grievance Redressal Officer. Policyholder Protection, Grievance Redressal and Claims Monitoring Committee (PPGR & CM Committee), constituted by every insurer is the Board-level Committee for ensuring efficient and effective redressal of grievances, the official statement explains.
Every grievance received either through a digital interface, direct correspondence or the call centre of the insurer is registered in the Complaints Management System (CMS) of the insurer. The Complaints Management Systems of insurers and the Bima Bharosa Portal are integrated. Insurers must acknowledge the complaint immediately and provide a resolution within 14 days, according to the statement.
Complainants can register and monitor the redressal of grievances by logging into the Bima Bharosa Portal, which is an integrated portal for monitoring policyholder grievances across the insurance industry by the IRDAI. Policyholders who have complaints against insurers are required to first approach the Complaints/Grievance Redressal Cell of the insurer concerned.
If they do not receive a response from the insurer within a reasonable period of time or are dissatisfied with the response of the company, they may approach the Grievance Redressal Cell in the Policyholders' Protection & Grievance Redressal Department of the IRDAI. Policyholders can log in to the official IRDAI Bima Bharosa Portal.
Alternatively, citizens can lodge complaints via the toll-free helpline numbers 155255 or 1800-4254-732, or via email at complaints@irdai.gov.in. Complaints sent through physical letters or emails are also registered in Bima Bharosa Portal. The call centre run by the authority offers multi-lingual support and operates in 12 languages.
As insurance adoption accelerates across India, navigating the customer Grievance Redressal Mechanism has become a vital skill for policyholders. To ensure financial security, a clear understanding of the established regulatory grievance channels and recent customer statistics is critical for every policyholder, the statement added.
— IANS
Reader Comments
The 14-day resolution timeline sounds good on paper. But my worry is whether IRDAI actually enforces it? My friend filed a complaint with IRDAI last year, it took them almost 2 months to even acknowledge it. The system needs proper monitoring, not just a portal.
This is a good move towards consumer protection. I've always been skeptical about insurance companies in India, but having a clear escalation path as outlined here gives some confidence. The multi-lingual helpline is particularly useful for rural areas. Let's hope the implementation matches the intent.
What about people who don't have internet access or digital literacy? Not everyone can navigate these online portals. They need more awareness campaigns at the grassroots level. My aunt still doesn't know how to use these systems even though she has insurance. The govt should also focus on offline support.
Finally a proper system! I remember when my bike insurance claim was rejected for a silly reason. The company didn't even give a proper explanation. If I had known about this, I would have escalated it. Good to know about the 14-day timeline now. At least something is being done!
The advisory is good but I'm a bit skeptical. In my experience, even after escalating complaints, the companies find ways to delay. They should impose hefty penalties on companies that fail to resolve claims within the stipulated time. That would make them more responsible.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.