How to complain for Insurance mis-selling and Insurance frauds?
As an Insurance holder, you may be unhappy over a faulty insurance product, product mis-selling, dispute regarding premium payment, delay in claim settlement or any other issues related to insurance. Now Insurance Regulatory and Development Authority of India (IRDAI) has directed insurance companies to held accountable for all the mis-selling, frauds related to insurance companies under the new Insurance Act. Also IRDA’s regulations specified the Turnaround Times (TAT) for all complaints that an insurance company receives from a consumer.
Here are the simple steps to address your grievance on insurance policy
Step 1: Contact your Insurance company customer care centre and make an official compliant, also get a complaint number.
Step 2: If you still doesn’t satisfied, approach the Grievance Redressal Officer – All insurance companies has listed out GRO details in their own website or you can also get from IRDA website. Provide your insurance complaint to GRO in writing along with all necessary support documents and also get an acknowledgement of your complaint with date. All Insurance companies should respond to your complaint within 15 days.
Step 3: If you still not happy with response from GRO, you can contact Grievance Redressal Cell of Insurance Regulatory and Development Authority of India (IRDA). You can directly contact them by toll-free 155255 (or) 1800 4254 732 or you can send an email to firstname.lastname@example.org. Also you can send a letter or fax to IRDA with all supporting documents to:
Consumer Affairs Department, Insurance Regulatory and Development Authority, 3-5-817/818, United India Towers, 9th Floor, Hyderguda, Basheerbagh, Hyderabad – 500 029
Complaint registration form available in IRDA website, you can download from here.
You can also register and monitor your complaint using Integrated Grievance Management System, this tool provides a gateway to register your complaints with insurance companies and also to track the status.