GRIEVANCE REDRESSAL POLICY

INTRODUCTION
LocalBima Insurance Brokers Private Limited (hereinafter referred to as “The Company/LocalBima”) believes that excellence in customer service is the most important tool for sustained business growth. Therefore, the company follows a philosophy of providing resolution of customers’ complaints/grievances in a manner that effectively resolves the complaint to the customer’s satisfaction.

OBJECTIVE
The objective of this policy is to provide an efficient and effective grievance redressal mechanism to policyholders, nominees, and other persons claiming under policies. This policy has been formulated taking into account the following:

  • Complaints raised by customers are dealt with courtesy and on time.
  • Customers are treated fairly at all times.
  • Complete transparency is maintained with the customers.
  • All complaints are dealt with efficiently and fairly.
  • Customers are fully informed about avenues to escalate their complaints/grievances within the organization.
  • Customers are informed about their rights to alternative remedies if they are not fully satisfied with the company’s response to their complaints.
  • Recognize that our quality and business goals go hand-in-hand, and maintain continual improvement of the complaint handling process through the use of various tools and information technology for process enhancement.

SCOPE
This policy covers all complaints/grievances received from the policyholder, its nominee, beneficiary, or authorized person (with the written consent of the policy owner). The company will not accept any complaint from third parties or agencies unless written consent is obtained from the policyholder.

Grievances received from consumer forums, ombudsman offices, or courts will be dealt with separately by the legal team.

Inquiries or requests are not covered under this policy.

DEFINITIONS

  • Complainant: A policyholder, prospect, or any beneficiary of an insurance policy who has filed a complaint or grievance against the insurer or the company.
  • Complaint/Grievance: A written expression (including email or other electronic communication) of dissatisfaction by a complainant with the insurer, company, or other regulated entities about an action or lack of action concerning the standard of service or deficiency of service.

Explanation: An inquiry or request does not fall under the definition of a complaint or grievance.

  • Inquiry: Any communication from a customer for the primary purpose of requesting information about the company and/or its services.
  • Request: Any communication from a customer soliciting a service, such as a change or modification in the policy.

COMPLAINT REDRESSAL PROCESS

Step 1: Channels for Communication

If you have a grievance, you may contact us with the details through any of the following channels:

  • Email: [email protected]
  • Letter: Grievance Officer, LocalBima Insurance Brokers Pvt. Ltd., Office-119, Center Point, Near Mahavir Nagar, Vapi I.E., Valsad-369195, Pardi, Gujarat, India
  • Contact Centre: Call us at 9898749715 from Monday to Sunday (excluding public holidays)

Step 2: Process for Addressing the Queries

  • All grievances will be acknowledged within 24 working hours of receipt.
  • All written complaints will be addressed within 14 working days from the date of receipt.
  • Grievances from walk-in customers will be acknowledged immediately, and a log will be maintained.
  • Based on the type of grievance, the company shall make all efforts to resolve the same within 14 working days.
  • Once resolved, a closure email will be sent to the customer, requesting feedback/rating.

Step 3: Escalation Matrix

If the customer is not satisfied with the resolution provided, the matter can be escalated as follows:

Step 4: Resolution of Grievances

As per IRDAI regulations, a grievance shall be considered resolved when:

  • The company has fully acceded to the complainant’s request, or
  • The complainant has indicated in writing acceptance of the company’s response, or
  • The complainant has not responded within 8 weeks of the company’s written response.

REVIEW
This policy will be reviewed periodically and updated as required.