More complaints, better resolution

With the Insurance Regulatory and Development Authority launching the Integrated Grievance Managenment System (IGMS), the number of reported grievances in the insurance sector increased 30 times in 2011-12 from that the year before. Besides a phenomenal increase in reporting of grievances, a significant improvement was seen in redressal, too. Sanjay Dutta, chief of underwriting and claims at ICICI Lombard, says: “After IGMS was put in place, ‘complaints’ were given a clear definition by the regulator. These largely include issues related to insurers’ promise of delivery. With IGMS, every complaint is getting registered and addressed, leading to a massive jump in the indicated number”(Click on graphic)