Submitted by: Deep Nag
Complaint Details:
Here goes my complaint:
– I have got an insurance policy from ICICI Prudential (Policy Number: 14316496), with the condition that I have to pay the first 3 premiums (in my case an annual premium amounting to INR 26000). I paid the first 2 premiums and then in the year 2013, I had traveled abroad, and unfortunately lost the policy documents.
– In the meantime, I had moved from Mysore (where my policy was initiated) to Kolkata and also opened a savings account in the ICICI Parnasree Branch, where the branch representative, Ms. Reema Nadeem, promised me to close my savings account in Mysore, and correspondingly promised me to change all my communication details pertaining to both the account and the insurance policy in the database.
– Also, since I had lost all the details about the policy, I requested my base branch to retrieve my details and give me the policy details so that I can pay the premium amount for the 3rd year. To my utter disgust, everybody, especially Ms. Nadeem, Ms. Roushan (from ICICI Pru) from the ICICI Bank Parnasree branch, always took my details and promised to get back to me, which they would invariably forget.
– I have moved abroad since 2013. Since then I have been coming to Kolkata every year once a month and had been visiting the branches to get the details in order to pay the premium and continue my policy. ICICI Branch in Parnasree again either noted my details and never came back, or they redirected me to another branch in Park street, Kolkata. None of them ever redirected me to the ICICI Prudential Office in Kolkata.
– I have been harassed from the last 3 years, and now due to negligence on your part, my policy has lapsed and my money is forfeited. I am in Kolkata again and running pillar to post to retrieve my policy. However, the ICICI Pru Branch in Kolkata has asked me to lodge a complaint with you and that it can only be done from your end. It has been only this time that someone from my branch has asked me to contact the correct office and the personnel. As a customer, I trusted them to resolve my issue for the last 3 years, and they did not even care to take care of my requirements. And the end result is, I have lost my money because of negligence on your part.
– I was informed by your customer service personnel on Nov 18, 2016, that my policy was foreclosed and the cheque with the surrender amount, a meager sum of approx 11, 000 INR was sent to my previous address in Mysore, whereas I had given all my updated contact details to the Parnasree Branch during the time of opening the Savings Account there and asked them to change my details. Unfortunately, Ms. Reema Nadeem and her colleagues never cared to take care of my requirement. None of them could ever retrieve my policy details as well.
– My questions are:
1. Why should I suffer, both mentally, physically and economically due to negligence on the part of your employees?
2. Why was there no email sent to me as a reminder before foreclosure of my Policy, when the sent cheque was returned? In case there was such an email sent, please do send me a copy.This is clearly against the guidelines of the IRDA and the RBI and this also violates my Right to Information. Or was this done to deliberately forfeit my investment and increase your turnover (considering similar treatment meted out to thousands of other clients).
3. Why did no one from ICICI get back to me when I repeatedly visited their branches requesting for the details in order to pay and continue the policy?
4. Why was my contact details not updated in your database inspite of me giving your representatives my contact details several times?
My further points:
1. I would like to ask you to restore my policy and allow me to continue with policy by paying the rest of the premiums, without any pre-set conditions, since this is a GROSS NEGLIGENCE ON YOUR PART. I am ready to pay all the remaining premiums and continue with it.
2. I would like to receive a communication from your end ASAP and would like to resolve everything before I leave India on 09.01.2017.
3. I would like you to take necessary action against the employees, especially the ones from Parnasree Branch (including your representatives from ICICI Pru), who were involved in this gross negligence, resulting in my suffering and apparent loss.
Would appreciate a quick and pro-active response.
I have been Tweeting (Dipishere1 Twitter handle) and posting my grievances in Facebook and other online portals, including quite a popular blog that I manage. Would also like to mention that I would not hesitate to post about your horrible service and ill-intentions of forfeiting people’s hard-earned money in all possible social media platforms.
Unfortunately most of the people in India can not properly use social media to lodge their grievances, and I do not know how they would feel or do with this kind of service.