Page 14 - Life Insurance Today OCTOBER 2017

not be in a position to intervene as the institution does have also been independently taking up steps for cautioning
not fall within its regulatory purview. public through print, electronic and internet media. The

iii. The amount is paid to an insurance company and a policy following are the various efforts taken in the direction of
cautioning public from spurious calls and fictitious offers.
is issued- Being a case of fraud, a complaint can be filed
with police for necessary action against the telecallers as
well as the insurance company whom they represent. A massive campaign cautioning general public against
spurious callers and fictitious offers was carried out
However, as an insurance policy is issued by an insurance
through television in 12 regional languages including Hindi.
company, the person may make a complaint of mis
selling with the insurance company bringing to the notice The IRDAI has been spreading the awareness against the
unfair business practice adopted by the telecaller/agent/ spurious calls by placing the relevant material i.e. radio
jingles, TV Advertisements, press release etc. on IRDAI's
intermediary in selling the policy and seek changes in the
policy or cancellation of the policy. The other channels Consumer Education Website (www.policyholder.gov.in),
of making a complaint offered by IRDAI can also be used which is available both in Hindi as well as in English.
for registering a complaint against the insurer such as
writing to Consumer Affairs Department of IRDAI, The information sought by the visitors of IRDAI's Consumer
sending an email to complaints@irda.gov.in, making a Education Website as part of feedback with reference to
call to toll free numbers (155255 or 1800 425 4732) of spurious calls, IRDAI guides them to deal with it during the
monthly review of the feedback. It has launched an Insurance
the IRDAI Grievance call centre or online on the
Integrated Grievance Management System (IGMS) Awareness Campaign for a period of six months starting from
(www.igms.irda.gov.in). 20th February, 2017 through broadcast of radio jingles in five
languages (Hindi, Tamil, Telugu, Malayalam and Kannada) on
It can be seen that the year 2016-17 has witnessed a All India Radio and Private FM radio channels on the following
reduction of about 68% over the previous year in terms insurance related topics. IRDAI would continue with the
initiatives for protecting policyholders' interests and for
of number of complaints and in terms of % share to the
promoting insurance awareness.
total UFBP complaints it has shown reduction of about
4.34%. This indicates that the extensive campaign for
building awareness amongst public and cautioning them An Education Website (www.policyholder.gov.in) is
available both in Hindi as well as in English.
from falling prey to spurious calls taken up by both IRDAI
as well by the Insurers have shown positive results.
S. Subject of S. Subject of
No. Radio Jingles No. Radio Jingles
Regulatory initiatives:
1. Life Insurance 4 Motor Insurnace
The Insurance Regulator has taken various initiatives to
2. Home Insurance 5. Renewal of Policy
spread awareness among the members of the general
Public particularly against the spurious calls through a 3. Health Insurance 6. Miselling of Insurance
multi pronged strategy. The modes of campaign used by Policies
IRDAI directly for cautioning public about such offers are
public notices, press releases, advertisements in IRDAI has filed police complaints against spurious callers
newspapers, radio spots, television advertisements, and has advised all insurers to take up the matter with the
caution on the Internet websites of IRDAI and its consumer police authorities concerned to take action against
education website etc. spurious callers. Insurance companies concerned have filed
FIRs against spurious callers and have taken up the matter
IRDAI has already issued directions to all the life insurers to with the police authorities given the loss of reputation
incorporate caution against such spurious calls in their caused by such fake calls.
publicity material - print, internet and electronic - as well
as through SMS to their policy holders. Insurers themselves Spurious calls of the nature indicated above cause loss of

When hungry, eat your rice; when tired, close your eyes. Fools may laugh at me, but wise men will know what I mean.

14 October 2017 Life Insurance Today

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010