Jul 12, 2008 11:55 AM
4616 Views
ICICI Lombard Insurance
I carry 2 Family floater policies of ICICI Lombard but now I feel cheated for evening thinking for an unethical company like ICICI Group to associate myself with. I advise most consumers to be beware before falling for their soft language while they try to sell because their real colours can only be observed later.
I bought my 1st Family Floater plan policy of ICICI Lombard in Year 2006, renewed in 2007 & this year 2008 was due for renewal.
My first experience with the company came in end of 2007 when I requested company to include my 3 year daughter.
First I called the local no. in Chennai(which is now centralised in 2008) but it claimed they are helpless as the policy was bought online. Their department work is to sell only new policies and they dont know. I called the centralised team.
To my shock I was told that this is not possible and I would have to buy a new policy to include my daughter. My simple question to ICICI Lombard then was that they have named policy as family floater and do they assume that Family would not increase. They replied that this is how the company works & I am not allowed to query them.
I hence had to buy a new policy for myself and my daughter. - Great company which understands how to cheat consumers & extract more money
My next experience came when I applied for renewal of my 1st policy. The shock I got was that my premium for 3rd year was same as 2nd Year on the renewal link while telephonically I was told that I would be offered 5% discount over last year premium. I had no claims made & even my age group remained same as 19-35 age bracket. One group claimed that it was IRDA which has increased the premium, the other said premium would be decided by the company. If I am interested I can simply plan not to renew.
"THE REASON THEY ARE ARMTWISTING THE CONSUMER IS THAT AFTER 2 YEARS OF NO CLAIMS YOU ARE ENTITLED MORE BENEFITS SO one Customer executive told that company doesn't gain if they renew without increase in premium" HENCE THEY STOP DECREASING THE PREMIUM AS MOST OF THE CUSTOMERS FAIL TO EVEN NOTICE THAT NO CLAIM BONUS IS NOT OFFERED.
I send numerous email; called helpline over 15 times (but I was put on hold or just bounced around from department to department & later disconnected without any answer) & evn chatted online for answer for no no claim benefit being offered. Nobody was ready to listen except that I got over 10 complaint numbers. I tried their grievience redressal page to complaint for query to their so called Service Quality Managers; Head or whosoever but to no avail as when you try to submit - it says just "Sorry, come back later as your complaint not submitted."
I would like to quote something about FAQ as quoted on their website
- What if I want to renew my health insurance policy after one year?We would be sending you a renewal notice informing you of the expiry of your health policy via courier.
Nothing was sent. Anyway their rule says they are not responsible but the consumer is if no renewal dont
2.If I renew policy with ICICI Lombard, will I get benefits on renewal? *
You can avail of the NCB i.e., No Claim Bonus, at the time of renewal, provided no claims are made on your previous policy.
The No Claims Bonus(NCB) is a discount allowed off insurance premiums,
and is used to'reward' the insured for a period of claims free policy
usage. Every additional No Claims Bonus year you get, the lower your
insurance premium should be. An insured becomes entitled to No Claim
Bonus(NCB) only at the renewal of a policy after the expiry of the
full duration of 12 months.
- Notice it does mention that Every additional no claims bonus year you get, the loweryour insurance premium should be.
BUT COMPANY REFUSES TO OFFER THIS AFTER 2ND YEAR & YOUR PREMUM REMAINS THE SAME AFTER 2ND YEAR. NO FURTHER REDUCTION IN PREMIUM
I have already made a complaint to IRDA & may plan to go to consumer court otherwise company like ICICI Lombard would have cheated many by their unethical principles & rude and bad behaviour and customer service
