Page 5 - Life Insurance Today March 2018

Cover Story

THE "IGMS": SO

FAR SO GOOD,

BUT NOT GOOD

ENOUGH

H appy customers are the key ingredient for a geographic format would certainly stabilize towards a

successful recipe for all companies; the same
standard effective mechanisms on IGMS project
management front in delivering the desired services to
holds true for the insurance industry. If a
policyholder is unhappy either with the service
that he gets from the insurance company, or with the policy holders towards goals of IGMS program by and large
in a common frame work. Further it helps IRDA to gauge
product itself, or for any other reason; then his grievances the effectiveness of grievance redressal systems of insurers
must be tended to with utmost priority. Effective in the industry.
Grievance Management of Insurance Sector pertaining to
Life and Non life products of different insurer companies IRDAI has launched the Integrated Grievance Management
are geographic hectic and intense in nature. System (IGMS). Apart from creating a central repository of
industry-wide insurance grievance data, IGMS is a
Administration of these grievance related issues in grievance redress monitoring tool for IRDAI. Policyholders
who have grievances should register their complaints with
About the author the Grievance Redress Channel of the Insurance Company
first. If policyholders are not able to access the insurance
Mr Jagendra Kumar is currently the company directly for any reason, IGMS provides a gateway
Corporate Head (Training) at Shriram to register complaints with insurance companies.
General Insurance Company. Mr Kumar is a
prolific writer and has wide experience in IRDAI is the monitoring body of all insurance companies
the general insurance industry. Before in India and for this reason, it is often referred to as the
Jagendra joining SGI he was the Ex. CEO in Pearl
Kumar watchdog. In short, what the Reserve Bank of India (RBI)
Insurance brokers. is to banks, IRDA is to Insurance Companies. It governs all

“Happiness always sneaks in a door you did not think was open.”

Life Insurance Today March 2018 5