Frequently Asked Questions

What is insurance mis-selling in India?

Insurance mis-selling in India is when an insurance product is sold to a customer based on false, incomplete, or misleading information. It can also occur when a customer is sold a policy that is unsuitable for their needs or circumstances.

What are some examples of insurance mis-selling in India?

Some examples of insurance mis-selling in India include:

  • Misrepresenting the features, benefits, or terms of an insurance product
  • Failing to disclose important information about an insurance product
  • Selling an insurance product that is not suitable for the customer's needs or circumstances
  • Pressuring or coercing a customer into buying an insurance product
  • Charging excessive fees or commissions for an insurance product

How do I register my complaint with Privy Insurance Legal Support?

You need to share your complaint details and the entire happening of mis-selling and cheating and upload the required documents for the assessment of the complaint. Thereafter, we will accept your case and give you a unique case/ complaint ID to track it in the future.

How do we handle your case and what would be the process?

After analyzing your complaint in detail, we help you represent your case with the Insurance company first and thereafter, IRDAI, Ombudsman, and consumer court depending on the case. Sometimes we have to file a criminal complaint against the Insurer company and Insurance Broker/agent.

What are the chances to get the matter solved?

We pour our every ounce of energy to solve your matter within the shortest time and until now solved more than 5000 cases so your case will also be solved shortly.

How much time does it take to resolve my case?

Depending on the merit of the case, it usually takes 15-30 days to resolve. If, however, we require the case to move to Ombudsman or consumer court it may take 3-6 months depending on the availability of the dates for hearing on the case.

What is the suitable time to connect you or your officers?

We work round the clock but our official contact numbers are 98728-03145 & 98153-19959 and our officials are available between 9 am to 7 pm. You can contact us any time through chatbot and can leave a message. We will reply to you shortly.

What would be my first step?

The first step would be filling out the complaint in detail to the Insurer company and Insurance Broker /agent.

What would be the second step?

The second step would be to chase the company through email to Grievance email id and their senior management officers.

What would be the third step?

The third step would be to file the complaint to IRDAI and IGMS through email and written complaints.

What would be the fourth step?

Fourth step would be to file a written complaint to the concerned Insurance Ombudsman.

What would be the next step?

You can register the FIR or you can file a criminal complaint against the culprits.

What is free- look cancellation?

Free Look period is 15 days which starts after you receive the policy bond. Please sign the policy receipt with the date and retain the envelope with the date as proof to avail of the same. We help you get the cancellation amount if you register yourself for free.

IRDAI’s role in India?

IRDAI stands for Insurance Regulatory and Development Authority of India. It is a regulatory body in India that was established in 1999 under the Insurance Regulatory and Development Authority Act. The IRDAI's primary function is to regulate, promote, and ensure the orderly growth of the insurance sector in India.

The IRDAI has various responsibilities, including granting licenses to insurance companies, regulating premiums and commissions, protecting the interests of policyholders, promoting competition in the insurance industry, and ensuring the financial stability of insurance companies. The IRDAI plays a crucial role in developing and maintaining a robust and efficient insurance sector in India.

What role of IGMS in India?

IGMS stands for Integrated Grievance Management System, which is an online platform developed by the Insurance Regulatory and Development Authority of India (IRDAI). The primary role of IGMS is to enable policyholders to file grievances or complaints against insurance companies registered with IRDAI.

The IGMS platform provides policyholders with a simple and easy-to-use interface for registering their complaints or grievances. Once a complaint is registered, the IGMS system forwards it to the relevant insurance company for resolution. The insurance company is then required to investigate the complaint and provide a resolution within a stipulated time frame.

The IGMS platform also enables policyholders to track the status of their complaints and receive regular updates on the progress of their cases. The IRDAI monitors the IGMS system to ensure that insurance companies are complying with the regulations and resolving complaints in a timely and satisfactory manner.

Overall, the IGMS platform plays a crucial role in ensuring that policyholders' grievances are addressed promptly and effectively, thereby promoting transparency and accountability in the insurance industry.

Role of the Insurance Ombudsman in India?

The Insurance Ombudsman is an independent and impartial institution that was established by the Government of India under the Redressal of Public Grievances Rules in 1998. The primary role of the Insurance Ombudsman is to provide a quick and inexpensive mechanism for the resolution of complaints and grievances of policyholders against insurance companies.

The Insurance Ombudsman is empowered to investigate and make recommendations on complaints made by policyholders regarding the services provided by their insurance companies. These complaints may relate to various issues, such as the non-payment of claims, the unfair rejection of claims, the delay in settling claims, and any other deficiencies in service.

The Insurance Ombudsman has jurisdiction over all insurance companies operating in India and has the authority to award compensation to policyholders in cases where the insurance company has been found to be at fault. The Ombudsman's decisions are binding on the insurance companies, and if the complainant is dissatisfied with the Ombudsman's decision, they may take legal recourse.

Overall, the Insurance Ombudsman plays a crucial role in protecting the interests of policyholders and ensuring that insurance companies provide high-quality services. By providing a simple, inexpensive, and effective dispute resolution mechanism, the Insurance Ombudsman contributes to the overall development of the insurance sector in India.