IRDAI has the authority to take action against insurance companies that do not comply with the grievance redressal process.
Insurance policyholders may face issues when dealing with insurance companies related to claims, premiums or the general customer services. If you are facing any of these issues with an insurance company, you should first try to resolve it directly with the company. You can contact the customer service department or the grievance redressal officer. If you are unable to resolve the issue, you can then file a complaint with the Insurance Regulatory and Development Authority of India (IRDAI).
Read More: 1 Piece Of Biscuit Costs Rs 1 Lakh: Why It Becomes Costliest Biscuit Ever? Check
In such a scenario, you may consider using the IRDAI Bima Bharosa portal to register your complaint.
IRDAI is a government body under the jurisdiction of the Ministry of Finance, Government of India. It was established to regulate and develop the insurance industry in India.
IRDAI Bima Bharosa portal
IRDAI Bima Bharosa portal is an online portal that allows insurance policyholders to register and track their complaints against insurance companies. The portal was launched in 2015 by the IRDAI to improve the grievance redressal process for policyholders.
The portal allows policyholders to register complaints in a simple and convenient manner. They can provide basic information about their complaint, such as the name of the insurance company, the type of complaint, and a brief description of the issue. The portal also allows policyholders to upload supporting documents, such as policy documents or correspondence with the insurance company.
Once a complaint is registered, it is assigned to the appropriate insurance company. The insurance company has 15 days to respond to the complaint. If the complaint is not resolved within 15 days, it is escalated to IRDAI.
IRDAI has the authority to take action against insurance companies that do not comply with the grievance redressal process. This may include fines, penalties, or even revocation of the insurance company’s license.
Read More: Post Office Savings Schemes: Can your account be frozen for not linking it with Aadhaar card
What should you do in case you have a grievance against insurance company or its intermediary/agent?
- Firstly, you may approach the grievance redressal officer of its branch or any other office that you deal with. The e-mail ids of grievance redressal officers, GRO, of all insurance companies are on on the official Bima Bharosa portal (https://bimabharosa.irdai.gov.in)
- Give your complaint in writing along with the necessary support documents
- Take a written acknowledgement of your complaint with the date.
- The insurance company should resolve your complaint within 15 days of its receipt.
What should you do in case the resolution provided by grievance redressal officer of insurance company is unsatisfactory?
In case if it is not resolved within 2 weeks or if you are unhappy with their resolution you can approach the grievance redressal cell of the Policyholders Protection and Grievance Redressal Department of IRDAI:
Read More: Credit Line on UPI to UPI LITE X: How RBI’s newly launched services will help you
- Call toll free number 155255 (or)
- Send an e-mail to [email protected]
- Make use of IRDAI’s online portal – Bima Bharosa:
- Register and monitor your complaint on Bima Bharosa Portal – at https://bimabharosa.irdai.gov.in/
- Send a letter to IRDAI with your complaint:
- Fill and send the Complaint Registration Form along with any letter or enclosures, if felt necessary, by post or courier to:
General Manager
Policyholders Protection and Grievance Redressal Department- Grievance Redressal Cell,
Insurance Regulatory and Development Authority of India(IRDAI),
Sy.No.115/1,Financial District, Nanakramguda,
Gachibowli, Hyderabad-500032
What happens when you lodge a complaint on Bima Bharosa Portal – https://bimabharosa.irdai.gov.in/?
A complaint registered through Bima Bharosa will flow to the insurer’s system as well as the IRDAI repository. A token number is generated on successful registration of complaint in Bima Bharosa Portal and the complaint can be tracked using the token number.
Updating of status of the complaint in insurer system will be mirrored in the Bima Bharosa Portal and the details of the update can be viewed in the Bima Bharosa Portal under the complainant login. The final resolution provided by the insurer will be available in the complainant login of Bima Bharosa Portal.
