Extent of Policyholders Grievances Redressal By Indian Life Insurers - An Analytical Study

Abstract

When handling a customer's complaint, remember If you can't fix it, don't drop it" Anonymous. A "Grievance Complaint" is defined as any communication that expresses dissatisfaction about an action or lack of action, about the standard of service deficiency of service of an insurance company and/or any intermediary or asks for remedial action. Insurance business the world over has the dubious distinction of facing a large number of customer grievances. Intangibility of the service on offer, lack of clarity on the "give-and-take", and the complexity of the wording in the insurance contracts.