The Consumer Affairs Department of the Insurance Regulatory and Development Authority (IRDA) has introduced the Integrated Grievance Management System (IGMS) which is an online system for registration and tracking of grievances. You must register your grievance first with the insurance company and in case you are not satisfied with its disposal by the company, you may escalate it to IRDA through IGMS by accessing www.igms.irda.gov.in. In case you are not able to access the insurer’s grievance system directly, IGMS also provides you a gateway to register your grievance with the insurer.
Policyholder Servicing Turnaround Times as prescribed by IRDA
|
Service
|
Maximum Turn Around Time
|
|
General
|
|
|
Processing of Proposal and Communication of decisions including requirements/issue of Policy /Cancellations
|
15 days
|
|
Obtaining copy of the proposal
|
30 days
|
|
Post Policy issue service requests concerning mistakes/refund of proposal deposit and also Non-Claim related service requests
|
10 days
|
|
|
|
|
Life Insurance
|
|
|
Surrender value/annuity/pension processing
|
10 days
|
|
Maturity claim/Survival benefit/penal interest not paid
|
15 days
|
|
Raising claim requirements after lodging the claim
|
15 days
|
|
Death claim settlement without Investigation requirement
|
30 days
|
|
Death claim settlement/repudiation with Investigation Requirement
|
6 months
|
|
|
|
|
General Insurance
|
|
|
Survey report submission
|
30 days
|
|
Insurer seeking addendum report
|
15 days
|
|
Settlement/rejection of Claim after receiving first/addendum survey report
|
30 days
|
|
|
|
|
Grievances
|
|
|
Acknowledge a grievance
|
3 days
|
|
Resolve a grievance
|
15 days
|
Source: IRDA Handbook on Health Insurance
