Insurance: most people complain via phone, email
27 Jan, 2014 01:01 PM
People prefer complaining via phone, email and social media over visiting the branch of a life insurance company to deal with a person face-to-face.

Mis-selling remains the primary issue customers continue to face.

Settlements, customers whose policies are either maturing or have made a claim, are most likely to face issues.

These are some of the key insights from a study done by Drizzlin Media India, a social media marketing company, on the online complaints from life insurance customers.

The study said Reliance Life had the highest number of complaints, while Max Life and Aviva had the lowest number.
Advantage online

By identifying online complaints and acting upon them, insurance companies can isolate problems with processes and functions and take corrective measures to improve them, the study findings showed.

This study titled — The Grieving Customer: An Analysis of Online Complaints from Life Insurance Customers — captures the current status of the insurance companies on online customer redressal platforms, what customers have complained about, who they complained to and how they complained.

Insurance is one of the fastest growing industries currently in a country where a good chunk of its gross domestic product comes from the services sector.

Online insurance sales have been increasing with a younger set of customers becoming targets for insurance companies. Such customers are well informed and are comfortable with online purchases.

For this study, 346 complaints were collected from April 1 to August 31 of seven life insurance brands – Aviva India, Max Life, LIC of India, Bajaj Allianz, HDFC Life, Reliance Life and SBI Life. The complaints were picked up from 5 different online customer redressal forums.

It is a common practice for many online customers to study how a brand is received by other users as well as what kind of messaging a brand adopts.

Complaints, queries and reviews can impact a customer’s decision on brand selection.
Source : Business Line

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