GRIEVANCE REDRESSAL POLICY
OF MWYN INSURANCE TECH PRIVATE LIMITED

I. Preface 

Complaints are an opportunity for an organization to understand or identify gaps in any process, product or communication, work towards process improvements as well as cement relationship of the Company with dissatisfied customers. Complaint handling process is part of the customer care initiative. 

IRDAI has recently notified the Registration of Corporate Agent Regulations, 2015 which prescribes that every corporate agent shall have in place proper procedures and effective mechanism to address complaints/grievances of policyholders efficiently and with speed. 

The purpose of this Grievance Redressal Process (hereafter referred to as the ‘Process’) is to set forth the policies and procedures to be followed in receiving, handling and responding to any complaint/grievance by the Corporate Agent. This process encompasses complaints relating to all products serviced by corporate agents on behalf of different insurers. 

Further, it shall be the Corporate Agent’s guiding principle to provide prompt and fair resolution of customer complaints in accordance with all legal and regulatory guidelines. It is imperative that the policies and procedures outlined in this process be fully understood and diligently followed by all employees of Corporate Agent who are involved in customer complaint handling process. 

II. Grievance Redressal Process 

Classification of Complaints, Inquiry and Request 

‘Inquiry’ is defined as any communication from a customer for the primary purpose of requesting for information about the Company or its services. 

‘Request’ is any communication from a customer soliciting a change/modification in the policy. 

‘Grievance/Complaint’ 

Is a communication or expression of dissatisfaction 

May be received either verbally or in writing 

Expresses a grievance from or on behalf of a customer 

Could be about: 

• An action or lack of action 

• The standard of service/deficiency of service 

• Could be against any business practice followed by the corporate agent 

• Can encompass anything that does not fall in either Inquiry or Request 

• 
  

‘Complaint’ versus ‘Inquiry’/’Request’ 

A ‘complaint’ needs to be clearly differentiated from ‘inquiry’/‘request’. Not every contact by a customer/policyholder questioning an action will constitute a complaint. Differentiating a complaint from an inquiry/request involves a reasonable application of judgment. The distinguishing factor should be the tone of the communication and a reasonable interpretation of it. If the tone is critical and the customer sounds unhappy or displeased about something, the communication should be treated as a ‘complaint’. 

A complaint includes allegations of some form of mis-selling, non-delivery of the policy, churning/twisting, failure to properly advise, misrepresentation or unsuitability of the product, delays in processing any client request like address change/premium payment/change in policy features, etc. 

III. Appointment of Grievance Redressal Officer 

A responsible officer of the Company shall be nominated as the Grievance Redressal Officer. 

IV. Approach towards ‘Service requests’ and ‘inquiries’. 

All ‘Service Requests’ and ‘Inquires’ should be resolved as expeditiously as possible and the turnaround time should not exceed the timelines as provided in IRDAI (Protection of Policyholder’s Interest) Regulation, 2002 and any other regulations / circulars / communications prescribed by IRDAI from time to time. 

In case the Service Request or Inquiry requires intervention of the Insurance Company, the same should be forwarded to the insurance company within 3 working days from the date of receipt of such ‘Service Requests’ and ‘Inquiries’. 

A register containing details of all the ‘Service Requests’ or ‘Inquiry’ should be maintained. The register should contain the name of the policy holder or the person making the inquiry, nature of enquiry or service request, details of policy issued/solicited and action taken thereon. 

V. Complaint Resolution Process: 

The Company shall institute appropriate processes and procedures under the purview of this Policy to address the grievance of Customers to be approved and amended by the any one of the Director from time to time. 

Grievance Officer, Pranav Khanna, Mobile Number - 6361121526
Principal Officer - Hitarth Saini,Office

Time: 10:30 AM to 6:00 PM, on business days.