Apr 29, 2009 05:05 PM
3547 Views
ICICI Lombard does everything online, right from giving new policies to renewing policies. Biggest issue is lack of transparancy during the time of renewals. Third time I renewed my policy, at the first time renewal there was an increase of 25% in premium, I ignored.
2nd time they ask me premium which was 40% more to the previous one. I am shocked but I continue because I have no choice, my last 2 years are claim free years, I do not want to loose the benefit of claim free years and this is what prompt these guys to take undue advantage of policy holders. They know that we will renew whatever the premium is. Beside this they do not send any renewal note or details of premium, just give the premium amount.
I would advise everybody to enquire about this before actually going with the ICICI Lombard. Once ICICI was pioneered in Banking and insurance, but now they are loosing ground and the number of dissatisfied customers is increasing very fast. if this trend continues, very soon they will dissappear from the market.
