Archive · 11 Nov 2025
IRDAI Chief: Insurance Grievance Redressal Rate Exceeds 99% on Bima Bharosa Platform
Imagine you have a problem with your insurance, like a claim not being paid or the company not being clear about your policy.
The Bima Bharosa is like a special website where you can tell the insurance company your problem.
The boss of insurance in India, Mr. Ajay Seth, said that last year, over 2.5 lakh problems were reported on this website.
He also said that the insurance companies fixed almost all of these problems, with more than 99% resolved!
He stressed that insurance companies need to be honest and clear with everyone who buys insurance to build trust.
There are also special offices called Insurance Ombudsmen across the country, with 18 of them now, to help solve these problems.
This helps make sure everyone in India has insurance by the year 2047.
The insurance industry's grievance redressal rate on the Bima Bharosa platform stands above 99%, according to IRDAI Chairman Ajay Seth.
Over 2.57 lakh policy grievances were registered on the Bima Bharosa platform in the past year.
IRDAI Chairman emphasized the critical role of transparency, good governance, and responsible selling in building trust with policyholders.
The Bima Lokpal institution, supported by IRDAI and insurance Ombudsmen, plays a vital role in upholding policyholders' rights.
With 18 offices nationwide, the insurance ombudsman system is crucial for resolving disputes like delayed claims and policy denials, as the industry aims for 'Insurance for All by 2047'.
- Who
- IRDAI Chairman Ajay Seth and the insurance industry
- What
- Stated that the insurance industry's grievance redressal rate on the Bima Bharosa platform is above 99%, and emphasized the importance of trust, transparency, and good governance for policyholders.
- When
- On the occasion of the First Insurance Lokpal Day, observed on November 11, 2025
- Where
- Primarily concerning the Indian insurance industry, with 18 Insurance Ombudsman offices nationwide.
- Why
- To highlight the effectiveness of grievance redressal mechanisms, foster policyholder trust, and work towards the 'Insurance for All by 2047' vision.
IRDAI Stance
Implied Policyholder Concern
Resolution Rate
IRDAI Stance
Claims the industry's resolution rate stands above 99 percent.
Implied Policyholder Concern
While high, the existence of the Bima Bharosa platform and Insurance Lokpal Day suggests policyholders still face significant issues requiring formal redressal.
Trust and Transparency
IRDAI Stance
Emphasizes the need for insurers to instill trust through transparency and good governance.
Implied Policyholder Concern
Policyholders may have experienced a lack of transparency or poor governance, necessitating the IRDAI's focus on these areas.
- Grievance Redressal Rate
- Above 99%
- Platform for Grievances
- Bima Bharosa
- Number of Grievances Registered
- 2.57 lakh in the past year
- Oversight Body
- Insurance Regulatory and Development Authority of India (IRDAI)
- Key Institution for Redressal
- Insurance Lokpal
- Number of Insurance Ombudsman Offices
- 18
- Location of Newest Ombudsman Office
- Thane
- Vision for Insurance
- Insurance for All by 2047
