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  
Post a Comment

Related Posts

    • Good Budget announcement on Citizen Charter for Tax payers

      This was a good move announced by FM. Can we please share our inputs via this circle as the subject has been extensively discussed. The feedback for what should be in charter of citizens should com...

      By Reeta Kumar
      /
    • Shared this from Transforming India

      Every member of the circle please vote on this poll. The Govt needs to know whether or not NRC will cause corruption problems.

      By Naina Mittal
      /
    • corruption in bocw deptt.

      there is rampant corruption in every state to issue labour licenses as well as permit under bocw as well as migrant workers license.the fee is fixed per person;even though the procedure is to apply...

      By Suresh Dasarathy
      /
    • Corruption under BOCW act is a must

      I am writing this on behalf of my husband who is in the EPC business. According to him corruption under BOCW act is a must. BOCW stands for benefits of construction worker and all busin...

      By Sandhya Agarwal
      /
    • Reliance Finance lending to indirectly linked borrowers

      There is attached news today saying that Reliance Home Finance lent 12000 crores of money to a set of potentially indirectly linked borrowers? Who the hell is investigating this. How many more bad ...

      By Amit Mishra
      /
    • Fighting Corruption from close to two decades

      Am an Architect who lived I Dubai close to 30 years and got back in 2003. I have been fighting corruption for close to two decades and have couple of cases in court that I filed. I also have a case...

      By Ajit Ramchandran
      /
    • Medical Corruption

      So when the doctors are exposed for taking bribes for prescribing ton of medicines of a particular type their association comes back and threatens whistel blowers. Imagiine your own fami...

      By Bharat Lal
      /
    • Excellent Detailed Report

      By LocalCircles and Transparency India on corruption in out country. http://bit.ly/indiacorruptionsurvey2019-...

      By Ruchika L Maheshwari
      /
    • Accountability of Lokpal body

      Lokpal is paying Rs 50 lakh a month as rent to 5 star luxury AshokaHotel in Delhi for office space. It occupies 12 rooms in the hotel & in last 7 month looked into over 1000 complaint of corrup...

      By Ruchika L Maheshwari
      /
    • Corruption in India

      Folks this is the survey of localcircles site and well describes state of affairs on ground. This should be shared and reshared so it reaches PM Modi

      By Ruchika L Maheshwari
      /
    • Addressing Political Corruption - Inputs needed

      The nation is watching Maharashtra and seeing how every political party is keen to come in power. Political Corruption is one of the leading form of corruption in India and is one of the primary re...

      By Transparency International India
      /
Share
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)