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HomeCity NewsCustomer complaints in general insurance drop by 66pc in 5 yrs

Customer complaints in general insurance drop by 66pc in 5 yrs

Indicating an improvement in customer service by non-life insurers and stringent regulatory regime, the number of customer complaints in general insurance has recorded a significant drop of 66 per cent.

The number of complaints dropped to 63,335 in 2013-14 from 1,86,615 in 2009-10, the report released jointly by Insurance Regulatory and Development Authority (Irda) and Consumer Affairs Department said.

A relative measure of complaints versus number of policies issued, the percentage has come down to 0.05 per cent in 2013-14 from 0.21 per cent in 2009-10, reflecting a decline of 75 per cent during the period, the report added.

In motor insurance which comprises the largest portfolio for non-life insurers, it has fallen by to 28,000 from 85,000 in last five years, while claim-related complaints comprised 23.5 per cent under the motor insurance segment, policy-related complaints comprised 18.6 per cent in 2013-14.

In its bid to supervise complaints directly under the motor insurance segment, Irda has launched integrated grievance management system (IGMS), which enables policyholders to lodge complaints directly with the regulator.

The complaints registered through IGMS are maintained by all the non-life insurers and Irda as well.

In health insurance, the number of customer complaints has fallen to 23,500 in 2013-14 from 69,000 five years ago.

Similarly, claim-related complaints comprised 44 per cent of total number of policies issued and policy-related complaints comprised 26 per cent in 2013-14.

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