The name New India Assurance Company is an anachronism. For, not only that there is nothing new in it; more importantly, it is archaic in its functioning. What we pay is not for what we get in return, but in the naive belief of what we may get in return, which seldom happens.
I have been associated with this Company for quite some time now. When one wants to insure, the officials call on the person in no time to get the application filled up and to collect the money. With that the Company’s work is over!
For, when there is break-down of the items insured, getting the money back is well neigh impossible. I had a recent experience, which is ludicrous, to say the least.
When my audio system failed, I phoned up the concerned Branch Manager and apprised him of it. His reply was I should first get its cost of repair assessed by the Philips (from whom I bought the system), then send the invoice to him; after receiving the invoice he will send me a claim form which I should fill up and send; after receiving the claim form he will send an Inspector to inspect the item, and so on. This means I should first take the system to a Philips Service Centre, leave it there for a few days, collect it back and bring it home without repair for the approval of the Inspector.
When a company such as the Philips repairs the item and gives the bill, in all fairness the Insurance Company should honour it and reimburse the amount.
When I asked the Manager why the repair of a small audio system should involve so many cumbersome procedures, his response was that is the way it is done, and he is helpless! If the Inspector is competent to inspect and assess the cost of repair, what is the need for me to get it assessed by some other agency, more so when that assessment is not accepted by the Insurance Company.
Our Insurance agencies of various hues are primarily for collecting money from us and thriving at our expense, and not for serving us.
Keeping this in mind, and the incompetence and delay in attending to complaints, it is time private agencies appeared on the scene for insurance cover as done in the Western countries.