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CUSTOMER DISSATISFACTION IN INSURANCE
Misselling misunderstood: The regulator’s proposal is tantamount to addressing the symptom, while ignoring the causeIn FY25, the Indian insurance sector experienced significant premium growth while maintaining flat penetration rates. However, complaints r...- Don't worry, banks have shock absorbers: RBIIn its bi-annual Financial Stability Report, the RBI flagged concerns over customer service in the insurance sector and again cautioned tha...
- Health insurance complaints doubled in 6 years, 80% of all grievances: Ombudsman reveals top claim rejection reasonsHealth insurance complaints have doubled in six years, now accounting for 80% of all grievances. Ombudsman calls for healthcare industry re...
- UnitedHealthcare CEO Brian Thompson Assassination: New Yorkers host a shocking contest. Here's what it wasNew Yorkers organized a shooter look-alike contest after the assassination of UnitedHealthcare CEO Brian Thompson. Eight contestants partic...
- Emergence & Application of Generative AI in Insurance
- Will colour-coded health insurance policies ease buying for customers?All individual health plans will be allotted three colours— green, orange and red—to indicate the level of complexity of the product. The c...
- Health insurance policy guidelines set to change from October 1: Here's how it will impact youNew products (filed after October 1, 2019) launched by health insurers are already adhering to the new rules. For products that are already...
- PMC Bank crisis: Should you change your bank? Here's how to evaluateThe PMC Bank crisis has brought safety of bank deposits into focus, but does that fear warrant a bank change?
- Not happy with your health insurance policy? Here's what you can do about itOne of two policyholders is not happy with his health plan. High renewal premiums and partial claim settlements are major worries. Here’s w...
- Are you better off without a health insurance policy?Private insurers in India have a poor record of paying up when customers need the cover, leading to a high complaints rate.
- RBI asks banks to enable account number portability"Banks should look forward to providing more choices to the new generation of customers who are more technology savvy," RBI Deputy Governor...
- Penalty proposed for violating insurance redressal normsInsurance Ombudsman has given feedback to the government for making a provision for penalising the insurance companies in case they are not...
- Mis-selling a big issue for bank clients; dissatisfied by high charges and poor serviceThe next time someone from your bank suggests an investment, take a close look at the fine print. There’s a 60% chance the product won’t su...
- IRDAI wants insurers to stick to grievance redressal normsAccording to the guidelines, insurers are required to follow the minimum turnaround time to resolve customer complaints.
- LIC starts revamp, sets up two groups to look into issuesThe move is part of revamp of the 57-year-old insurer, facilitated by the government to increase insurance penetration in the country.
- Few takers for medical portability, insurance firms still see glitchesIt's been almost a year since health insurance portability came into force, but not many switch overs have happened then.
- How policyholders can redress grievance onlineThe protection of policyholders' interest, it seems, is on the top of the agenda of the Insurance Regulatory and Development Authority (Ird...
- Changing insurer: How you gain from health portabilityBefore you dump your existing policy in a huff, find out whether the new firm promises anything different.
- TPAs must play an active role in curbing costsTPAs are perhaps the most vital cogs in linking the other three gears - customers, health service providers and insurers - in the machine t...
- New norms fall short: ExportersThe new, easier rules to claim service tax refunds announced on Thursday were still falling short, say exporters, who have Rs 2,000 crore p...
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