Bima Bharosa Grievance Management System - Policy Holder
Bima Bharosa Grievance Management System
IRDAI has launched the Bima Bharosa System in 2022. Apart from creating a central repository of industry-wide insurance grievance data, IGMS is a grievance redress monitoring tool for IRDAI. Policyholders who have grievances should register their complaints with the Grievance Redress Channel of the Insurance Company first. If policyholders are not able to access the insurance company directly for any reason, Bima Bharosa system provides a gateway to register complaints with insurance companies.
Complaints shall be registered with insurance companies first and only if need be, be escalated them to IRDAI (Consumer Affairs Department). Bima Bharosa system is a comprehensive solution which not only has the ability to provide a centralised and online access to the policyholder but complete access and control to IRDAI for monitoring market conduct issues of which policyholder grievances are the main indicators. Bima Bharosa system has the ability to classify different complaint types based on pre-defined rules. The system has the ability to assign, store and track unique complaint IDs. It also sends intimations to various stakeholders as required, within the workflow. The system has defined target Turnaround Times (TATs) and measures the actual TATs on all complaints. Bima Bharosa system sets up alerts for pending tasks nearing the laid down Turnaround Time. The system automatically triggers activities at the appropriate time through rule based workflows.
A complaint registered through Bima Bharosa system will flow to the insurer's system as well as the IRDAI repository. Updating of status will be mirrored in the IRDAI system.
Thus Bima Bharosa system provides a standard platform to all insurers to resolve policyholder grievances and provides IRDAI with a tool to monitor the effectiveness of the grievance redress system of insurers.