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More complaints, better resolution

Source : BUSINESS_STANDARD
Last Updated: Sat, Dec 29, 2012 18:40 hrs

With the Insurance Regulatory and Development Authority launching the Integrated Grievance Managenment System (IGMS), the number of reported grievances in the insurance sector increased 30 times in 2011-12 from that the year before. Besides a phenomenal increase in reporting of grievances, a significant improvement was seen in redressal, too. Sanjay Dutta, chief of underwriting and claims at ICICI Lombard, says: “After IGMS was put in place, complaints’ were given a clear definition by the regulator. These largely include issues related to insurers’ promise of delivery. With IGMS, every complaint is getting registered and addressed, leading to a massive jump in the indicated number”(Click on graphic)




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