The Insurance Regulatory and Development Authority of India convened a high-level meeting with the Chief Compliance Officers and Grievance Redressal Officers of all insurers to review compliance practices and the effectiveness of existing grievance redressal mechanisms, with a focus on strengthening policyholder protection. The Authority flagged the rising number of complaints as a concern and pressed insurers to improve the quality and timeliness of resolutions. Discussion included operational issues raised by Insurance Ombudsmen from Bhopal and Thane and an analysis of consumer complaint trends. Insurers were advised to adopt a clear, standardised operating procedure for classifying consumer references into complaints and service requests, strengthen internal systems, and ensure strict adherence to prescribed timelines, alongside a more proactive, policyholder-centric approach.
Insurance Regulatory and Development Authority of India 2025-11-26
Insurance Regulatory and Development Authority of India urges insurers to strengthen customer-centricity and raise grievance redressal standards
The Insurance Regulatory and Development Authority of India met with compliance and grievance officers from all insurers to assess compliance practices and grievance redressal mechanisms, emphasizing policyholder protection. Concerns over rising complaints prompted insurers to enhance resolution quality and timeliness. Insurers were advised to standardize procedures, improve internal systems, and adopt a proactive, policyholder-centric approach.