A Comprehensive Review of The New India Assurance Co. Ltd. and Its Insurance Claims Experience

The New India Assurance Co. Ltd., a Public Sector Undertaking (PSU) known for its role in the Indian insurance market, has been the subject of many negative reviews from customers. This review delves into the personal experience of one such customer, detailing the issues encountered with the insurance company's service and the effectiveness of the claims process.

The Worst Experience

A user named Vishwanath Kini wrote a scathing review about his worst experience with the New India Assurance Co. Ltd. His new car was stolen after only one month of owning it, but despite the theft being a genuine incident, the company was unresponsive and unwilling to process his claim. This lack of service not only caused significant emotional distress but also financial loss.

Fraudulent Practices and Dismissal of Claims

The company is accused of engaging in fraudulent practices, making empty promises, and failing to deliver on its promises as stated in the policy documents. According to Kini, the surveyor and the officials dealing with claims exhibited poor and unprofessional behavior. The surveyor, Mr. Devanand Shankaraih, was described as indolent and insincere, frequently requiring new sets of documentation and later rejecting the claim outright, even when faced with direct evidence of the damage.

Email Disclaimer

In a curious turn, the branch manager sent an email with a disclaimer clause stating that the views of the branch manager do not reflect the views of the company. This added layer of obfuscation has led many customers to question the legitimacy and reliability of the company's claims handling process.

Appeal to the Insurance Ombudsman

Spurred by frustration and the negative experience, Kini took the matter to the Insurance Ombudsman in Bangalore. The result was a landmark victory, as the Ombudsman passed critical remarks against the company and awarded a significant portion of the claim amount, bringing some semblance of justice to Kini.

Advice for Potential Clients

Kini advises potential clients to thoroughly research and avoid purchasing policies from this company. Instead, he recommends private insurance companies that are more customer-centric and transparent in their operations. It is particularly important for senior citizens, like himself, to exercise caution and due diligence before making any insurance decisions.

Conclusion

The review of the New India Assurance Co. Ltd. highlights the importance of stringent claims processes and the role of regulatory bodies in ensuring fair and transparent practices. For those seeking insurance services, it is crucial to choose a company that prioritizes customer satisfaction and adheres to the terms and conditions outlined in the policy documents.

Keywords: New India Assurance, Insurance Claims, Customer Service