Integrated Grievance Management System :
The Integrated Grievance Management System(IGMS) facilitates online registration of policyholders’ complaints and helps track their status.
How do you use IGMS ?
A policyholder can make optimum use of this system by giving accurate information about the complaint like the policy number, name of the insurer, complainant’s contact details etc. It would be useful to keep the policy document ready while registering the complaint online.
The Complaint Registration Process involves the following TWO SIMPLE steps
Step 1 : Register yourself by entering your credentials
Step 2 : Use Registered credentials to register complaints / view their status
What should you do in case you have a complaint against an insurer?
You should first approach the insurer’s Grievance Redressal Mechanism as spelt out in the insurance policy document (link to the insurers’ grievance mechanism is available in this website at List of Insurers).
What if there is no response from the insurer?
In case the complaint is not fully attended to by the Insurer within 15 days of lodging it, you may use the IGMS for escalating the complaint to IRDAI.
FAQs:
What is an ‘insured peril’?
The purpose of insurance is to compensate you for a loss caused by an insured perils. If your stocks are destroyed in a fire, the cause of loss is fire which is payable under a fire policy. If the stocks are stolen, the loss is not payable under a fire policy as “Burglary” is not a covered peril.
What is the meaning of Proximate Cause?
If the loss is caused by two or more causes acting simultaneously or one after the other, then it is necessary to chose the most important / effective cause which has caused the loss. This cause is termed “Proximate Cause” and other cause is termed as “Remote”.
What is Utmost Good Faith?
Utmost Good Faith is one of the principles that insurance is based on. It denotes a positive duty of the person seeking insurance to voluntarily disclose accurately and fully, all facts material to the risk being proposed whether requested or not.
What is meant by Insurable Interest?
The financial interest that the assured possesses in whatever is being insured is known as “Insurable interest”. In other words, it is the right of a person to insure something which, when lost or damaged, would mean a financial loss to him.
If a person is allowed to insure something that he does not own it becomes a wagering contract and therefore void under Section 30 of Indian Contract Act.
Therefore Insurable interest is a pre-requisite for insurance and the compensation is limited by the value of the subject matter of insurance and the extent of insurance coverage.
In Life Insurance, though human life value cannot be measured in monetary terms, insurers determine the sum assured as a multiple of the income of the life assured and his remaining productive years.
The Integrated Grievance Management System(IGMS) facilitates online registration of policyholders’ complaints and helps track their status.
How do you use IGMS ?
A policyholder can make optimum use of this system by giving accurate information about the complaint like the policy number, name of the insurer, complainant’s contact details etc. It would be useful to keep the policy document ready while registering the complaint online.
The Complaint Registration Process involves the following TWO SIMPLE steps
Step 1 : Register yourself by entering your credentials
Step 2 : Use Registered credentials to register complaints / view their status
What should you do in case you have a complaint against an insurer?
You should first approach the insurer’s Grievance Redressal Mechanism as spelt out in the insurance policy document (link to the insurers’ grievance mechanism is available in this website at List of Insurers).
What if there is no response from the insurer?
In case the complaint is not fully attended to by the Insurer within 15 days of lodging it, you may use the IGMS for escalating the complaint to IRDAI.
FAQs:
What is an ‘insured peril’?
The purpose of insurance is to compensate you for a loss caused by an insured perils. If your stocks are destroyed in a fire, the cause of loss is fire which is payable under a fire policy. If the stocks are stolen, the loss is not payable under a fire policy as “Burglary” is not a covered peril.
What is the meaning of Proximate Cause?
If the loss is caused by two or more causes acting simultaneously or one after the other, then it is necessary to chose the most important / effective cause which has caused the loss. This cause is termed “Proximate Cause” and other cause is termed as “Remote”.
What is Utmost Good Faith?
Utmost Good Faith is one of the principles that insurance is based on. It denotes a positive duty of the person seeking insurance to voluntarily disclose accurately and fully, all facts material to the risk being proposed whether requested or not.
What is meant by Insurable Interest?
The financial interest that the assured possesses in whatever is being insured is known as “Insurable interest”. In other words, it is the right of a person to insure something which, when lost or damaged, would mean a financial loss to him.
If a person is allowed to insure something that he does not own it becomes a wagering contract and therefore void under Section 30 of Indian Contract Act.
Therefore Insurable interest is a pre-requisite for insurance and the compensation is limited by the value of the subject matter of insurance and the extent of insurance coverage.
In Life Insurance, though human life value cannot be measured in monetary terms, insurers determine the sum assured as a multiple of the income of the life assured and his remaining productive years.
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