Focus on claim settlement is not enough

Thrust of Irdai's latest draft guidelines is mostly procedural

Buying an insurance policy, whether life, health or auto, can often be a pain. There are enough complaints of how people have faced problems while buying, follow-up servicing and claims settlement. For example, Tapan Kumar, a manager in a restaurant, was made to run from pillar to post when he wanted to return a policy within the free-look period of 15 days. “My chartered accountant told me that the premium was too high for someone of my age. So, I decided to return the policy. Initially, they told me that it cannot be returned, and when I insisted, they asked