DFS Strengthens Focus on Timely Redressal of Insurance Policyholder Grievances

New Delhi, Aug 14 (KNN) The Department of Financial Services (DFS) has highlighted the grievance redressal mechanism available to insurance policyholders, including complaint resolution at the insurer level and escalation to the Insurance Regulatory and Development Authority of India (IRDAI).

Policyholders facing issues such as claim rejection, delays, mis-selling or other service-related concerns can first approach the Grievance Redressal Officer (GRO) of the concerned insurer. 

Every insurer is required to designate a GRO at its offices, while the Policyholder Protection, Grievance Redressal and Claims Monitoring Committee oversees grievance redressal at the board level.

Complaints received through digital platforms, correspondence or insurer call centres are registered in the insurer's Complaints Management System (CMS), which is integrated with the IRDAI's Bima Bharosa Portal. Insurers are required to acknowledge complaints immediately and provide a resolution within 14 days.

If a policyholder does not receive a response within a reasonable period or is dissatisfied with the insurer's response, the complaint can be escalated to IRDAI's Grievance Redressal Cell in the Policyholders' Protection & Grievance Redressal Department through the Bima Bharosa Portal.

The Bima Bharosa Portal enables policyholders to register and track their complaints. Complaints can also be lodged through IRDAI's toll-free helplines or by email, with complaints received through physical letters and emails also being registered on the portal.    

The IRDAI call centre provides multilingual support and operates in 12 languages.

(KNN Bureau)