I am writing a review to enlighten all of you regariding customer service dished out to me by kotak mahindra customer executives.
I have a policy with kotak mahindra smart advantage plan. The mode of payment of its premium is by on a monthly basis by ECS . Now the story goes like this and you can make it out by the following complaint I placed with kotak mahindra.
Dear Sir
I am the unfortunate recipeint of the policy no kotak smart advantage plan. The policy premium payment is through ECS mode with my account in ICICI Bank. The status of my policy as of today is in lapse state due to nonpayment of premium after 31 March 09. When I contacted your customer care executives regarding my policy lapsation , they said that there is some signature mismatch with the ICICI bank ECS form.
The reason of signature mismatch for not clearing of ECS is utter nonsense , as I have clarified with bank and they have confirmed that kotak has not given any instruction to debit ECS amount since 31 March 09. The last ECS payment happened with the Bank on 31 march 09. One more thing , during intial ECS registration with the bank, signature and matched and verified and only then ECS debit starts. Since already premium till 31 March 09 has been paid through ECS mode , the Signature mismatch story doesnt stand.!!! ICICI bank has confirmed to me that they will give me in writing that no such instruction has been recieved by them for ECS debit since 31 march 09.
In view of above, I suspect some gross negligence has transpired from your officials regarding giving of instruction for ECS debit to ICICI bank due to which the policy has lasped. Also , no body from kotak mahindra even called me to informing if there was any problem with ECS. They just went ahead and lasped the contract. Is this the way to treat your customers.??? When your esteemed company executives can call 100 times asking potential customers to listen to their different plans on insurance and varied other products, I think I should have been informed regarding any such problems either by SMS or some body calling me up.
I have conveyed the above stated problem through complaint request no 01647257 , the response I got was the same story I heard when I called customer care, the first time and that too after 4 days of launching a complaint.
Now to revive the policy , I have to pay late payment charges. Kindly , can you tell me what is late payment in ECS mode??The reason we resort to ECS mode of payments, so that customer is out of the loop of timely payment of premiums and company take care of it on its own. This episode has created a very poor image of your organisation in my mind , and I am considering very seriously either to terminate the contract / approach consumer forum. Also , I would definately post my review on https:// mouthshut.com so that potential customers seeking insurance do get to know , what sort of treatment kotak mahindra dishes out to existing customers. !!!!
Thanking you
Chirag Verma
I do seriously hope that everyone reading this review becomes aware what sort of treatment these insurance companies dishes out to existing customers. My recommendation through this forum is a very big "NO " for the product , a suggestion for all these insurance companies to pull up their socks!!!!