CFSC · Customer Service Champions · Insurance · Mis-selling

How Paytm Can Sell Insurance to 500 Million Indians

PayTM Karo has captured the imagination of Indians. So while 200+ million Indians are already registered on their platform, selling them financial services is a big challenge. Here are the challenges that I perceive for the Paytm Payments Bank. Financial Behavior Financial decisions is a deeply personal behavior thing. Improving financial behavior with technology is an… Continue reading How Paytm Can Sell Insurance to 500 Million Indians

Insurance

LIC’s Jeevan Umang Guarantees 8% of Sum Assured as Survival Benefit

LIC, India’s most trusted Insurance brand, is launching a policy on 16th May, 2017 that has attractive benefits in the world of reducing interest rates. At the end of the premium paying term, LIC is guaranteeing you to get 8% of the sum assured every year. This plan is similar to Jeevan Tarang (178) Plan which… Continue reading LIC’s Jeevan Umang Guarantees 8% of Sum Assured as Survival Benefit

Insurance

Which Term Insurance is Better, LIC or Private Insurance Companies?

Let’s get the concept of insurance first. Insurance is a contract of good faith between you and the insurance company. Both you and the company have responsibilities. Of course there are service issues, claim repudiation data, etc. But the service issues are not quantified as yet. And the claim repudiation data is not conclusive enough… Continue reading Which Term Insurance is Better, LIC or Private Insurance Companies?

Insurance · ServeTM

Death from Malaria is an Accident

“Death of Policyholder patient due to Malaria after Mosquito Bite is an accidental death and hence Insurance Company is liable to pay the sum assured.” In an interesting Case of National Insurance Co. Ltd. V/s Mosumi Bhattacharjee, (R.P. No.1270/2016), a question came before the National Commission to decide whether death of a Policy holder due… Continue reading Death from Malaria is an Accident