Corruption in insurance industry

Can the members of this esteemed circle please share their experiences in the insurance industry. Is there corruption in the claims process? What do companies do to safeguard against corruption and prevent bribing of claims processing agent? more  

Yes Mr. Amit Misra, I do share the names of these companies and banks that have ruined my life and living; if it helps others to be cautious to avoid exploitation of their dignity of living, I will be more than happy to have done a good job. The car dealer and DSA of these companies and bank is Auto VIkas Sales, Moti N agar, N.Delhi. The bank is ICICI BANK which boasts of anywhere banking while alluring and entrapping gullible customers and then takes evading actions when it had to perform its contractual and legal obligations. It certainly flouts the money power vested in it unquestioned because it has unrestricted access to public money. The insurance company is -- ICICI PRUDENTIAL LIFE INSURANCE COMPANY which is a group company of ICICI that colludes in illegal activities of even filing photocopy of fake, fabricated, forged documents to bail out its dominating ICICI BANK and to save its DSA. This bank and its group companies have a specialized team under the caption of " Head Service Quality", Senior Management Desk from the office of the bank's CEO cum MD who lobby to manage the situation and evade police, law provisions and is not concerned with its victim's lives it is destroying so that it and its group companies continue to devour undue riches. more  
Please share names of these companies. It will be helpful. more  
I have experienced life jolting and damaging experience when the bank insists on insuring the loan amount against risk of inability to pay on account of my being self employed and of 58.6 yrs in age. Bank offered a one time or single premium for the risk cover which was promptly paid. No receipts were issued and name of the insurance company to give such a policy was not disclosed except asserting that the policy would reach my residence and that would provide all details needed. But no such policy ever came by post. It was later learnt that this bank has two insurance companies under its group where one has the specific product and the other does not where it covers only risk to life. T The other company - a life insurance company sends a letter in the name of some male person but using my wife's name for my loan account with the bank to advise cancellation after FOUR MONTHS attributing the reasons to certain details sought by it was not provided. When its nearest branch was approached, it was shocking to learn that the proposal (not policy) was in the name similar to my wife with her details, the alleged form had many corrections and overwritings, and signatures forged to provide only 25% of the loan amount as possible risk cover. The fraud grew in its magnitude when a written complaint was given to this insurance company and acknowledged by its customer service manager who refused to give a copy of the fake documents and also refused to seek details that their letter did not specify by belligerently stating that she does not need to take details from myself and that their backend team would provide the same. Policy was not issued but a proposal was mocked for over 4 months in a wrong name, for a wrong & lesser amount and with forged signatures. When police served them and the bank with s. 91 Cr.P.C. notice for all documents relating to this deal or contract, the bank did not provide any document and the insurance company provided copies (3 pages) of the fake application form where the first two pages except a mention of my loan number, is not filled up nor signed but the third page with obliterations, corrections, overwritings had been further tampered with by masking the forged signature in an attempt to destroy evidence of forgery. Later when case was filed in consumer forum, this insurance company filed photocopies of the fake document containing fabrication and forged signatures where clear evidence of tampering to destroy the evidence was visible which is a grave offense to file a fabricated and forged document in a judicial proceeding to wrongly influence the judgement. Finally, these conspirators managed to motivate, influence, through perhaps cash, kind or favor and obtained a wrong and illegal order which upholds the fake, fabricated and forged document. The influence of this group of bank and insurance company was so strong that the State commission and National commission did not even admit the appeal and used further wrong words that banks can do what they like and District forum order based on fake documents is valid to say that my appeals have no merit. My friend, the insurance companies are all cheats and banks support them tooth and nail. Police is aware of the illegalities but don't register FIR. In the meantime the poor victim continues to be harassed and traumatized when their family life is ruined and dignity of living assured by constitution is grossly violated. This is the common occurrence in our India which is facing the 'dance of democracy' for another year of election to lok sabha or election to corrupt and illegal practices to make common man suffer for eternity. more  
Insurance companies care little about the commitments made by their agents or they have no control over them. Three years hence, I am still waiting for a free holiday trip promised with a policy from a large statedly reputed company. Complaints made to the company are met with shrugs claiming, they never made the commitment. more  
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