Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / India/  Irdai looking for an agency to manage its grievance redressal centre
BackBack

Irdai looking for an agency to manage its grievance redressal centre

Irdai had set up a consumer affairs department (CAD) to oversee compliance of insurers and intermediaries with respect to Protection of Policyholders' Interests Regulations

It will also empower consumers by educating them on grievance redressal mechanismsPremium
It will also empower consumers by educating them on grievance redressal mechanisms

New Delhi: Regulator Irdai is looking for an agency to manage its multi-media grievance redressal centre with a view to address complaints of insured public against insurance companies.

The Insurance Regulatory and Development Authority of India (Irdai) had set up a consumer affairs department (CAD) to oversee compliance of insurers and intermediaries with respect to Protection of Policyholders' Interests Regulations. It will also empower consumers by educating them on grievance redressal mechanisms.

To provide alternative channels to receive complaints against insurers, it has set up the Irdai Grievance Call Centre (IGCC) that receives complaints through a toll-free telephone number and by e-mail. It also registers complaints apart from furnishing the status of the resolution.

The agency will be required to manage its IGCC by providing the state-of-the-art call centre solution based on IP Multimedia platform for seamless handling of channels (telephone calls, e-mails and letters) with unified administration and reporting as well as having the integrated components in a single platform, said the request for proposal (RFP) for IGCC Services.

The entity, the RFP said, should be able to take over the operations from the current service provider. According to the RFP document, the duration of the contract will be initial for three years and further extendable for two years on a year-on-year basis.

The regulator said the IGCC is envisaged to be a true alternative channel for the insured public consumers by offering comprehensive tele-functionalities (both manual and IVR) to all insurance consumer segments. It serves as a 12 hours X 6 days' service platform, offering multiple languages and integrating channels.

"It is envisaged that the IGCC would not only attend to phone calls and e-mails but also complaints forwarded by the consumer affairs department of the authority, subject to internal procedures, complaint registration process and other process requirements," it added.

The regulator has also put in place the Integrated Grievance Management System (IGMS) as an online system for grievance management. IGCC has an interface with IGMS; and through IGMS, Irdai has an interface with grievance systems of all insurers.

The Irdai receives complaints on insurers from prospects and policyholders, and takes up these grievances with insurers for resolution.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 13 Jun 2021, 04:02 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App