Page 8 - Life Insurance Today OCTOBER 2017

BEWARE OF

SPURIOUS

CALLS AND

FRAUDULENT

OFFERS

S purious calls in the name of regulatory After disclosing their false identity they claim that this call

organizations and government or quasi
is on behalf of IRDA to address the complaints and
government authorities has been a problem which
has been in prevalence for quite some time now. grievances of the policy holder. The person receiving such
phone call gets convinced and starts sharing the problems
Recently some gangs have been exposed to a new scam faced with the existing insurance policy. On understanding
of the Insurance Sector "Fake calls from IRDA". This scam the issue of the policy holders, these tele-callers convince
is to trap the existing policy holders who are not satisfied that they will get the refund of the existing policy and the
with their existing plan and are not getting desired returns, policy holder can withdraw the actual amount of the
bonus or claims. People across India these days are premium paid to company.
receiving calls from Telephone Numbers of Metro cities
and the tele-callers introduce themselves as These callers, the fake IRDA representatives, keep
representatives of IRDA. complete knowledge about functioning of insurance
companies, regulatory authority and norms and then they
About the author make the other person convinced confidently and smartly
with their conversation. When the policy holders believe
Mr Jagendra Kumar is currently the
Corporate Head (Training) at Shriram that these calls are from IRDA Insurance Verification
General Insurance Company. Mr Kumar is a Department from Delhi or Hyderabad, they get trapped
prolific writer and has wide experience in and loose more money for getting refund of the existing
the general insurance industry. Before policy. Members of public have been receiving a lot of
Jagendra joining SGI he was the Ex. CEO in Pearl
Kumar spurious calls in the name of officials of IRDA making
Insurance brokers. fictitious and fraudulent offers.

To the man who only has a hammer, everything he encounters begins to look like a nail.

8 October 2017 Life Insurance Today

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