Chennai: Bharti AXA Life Insurance has announced that it has embarked upon a public awareness drive to fight against spurious calling and mis-selling across India.
The insurance industry refers mis-selling as unfair business practices and a sales practice in which a product or service is deliberately misrepresented or a customer is misled about its suitability, while spurious calling refers to a group of wrongdoers who contact people posing as employees of insurance firms and allure them to buy policiesthrough fake offers and higher returns.
“Mis-selling and spurious calling have become a significant problem in the domestic insurance industry. As a responsible insurance company, we have a zero tolerance policy towards mis-selling or anyillegitimate inducements. Our sales teams help customers take an informed decision on the back of full product and services disclosures. Besides, we have also set up all required checks and balances to address the concerns and issues of customers at utmost priority,” said MD and CEO, Bharti AXA Life Insurance, Vikas Seth.
“We are fighting the increasing incidences of mis-selling and frauds on two fronts. We are making policyholders and customers alert and aware through our public awareness programmes and we are registering complaints with the police wherever it is required and seeking their assistance to act against these offenders,” Seth added.
The company has also set up a pre-issuance video verification call system to help customers understand the terms and benefits of the insurance policy and empower them to take an informed decision.