Hi all:
I am a insurance consultant for long years and have seen that for grabbing the market Tata has tried all means. It’s name is there in everyones mouth and before the detariff all car owners were called maximum by Tata’s agents. Their claim settlements may be very exciting but they have extremely strict underwriting guidelines but their customer service is extremely prompt. They didn’t have a medical insurance policy for individuals but now they have started it but to be very true it is not at all exciting since they only provide a fixed amount as per days as opted and not like other health insurances which provide reimbursement as per the Sum insured. Also they have one for critical illness but that also is only for a few noted critical health calamity. I like to know who will insure normal hospitalisation as per actual or sum insured whichever is less. Obviously then one will have to search for another company. Now the actual fact, telecallers will call from nowhere and will explain as if it is a normal mediclaim. It is only after you come to know from the policy wordings or when claim takes place. Their agent’s promise a lot of things but they vanish away the moment they receive the premium cheque. Their Travel insurance also have many exclusions and higher deductibles. They may not insure within normal course if your vehicle has a break in insurance for more than three-six months. They often charge loading if you have claims or your insurance is broken. Too much disturbance was created by their agents till 2006 when a car use to become a year old. Agent is not much of a help at times of claims. His case should only get processed and the rest is on Tata AIG’s mercy. At times of motor claims customers are often forced to go for their workshops. Today after detariff there is no set calculation and every car may have around 35 types of rates uptil 5 yrs depending on your age and No Claim Bonus. After 5 yrs there will be more types of rates. Generally for each and every car now their representatives require to visit their denoted site and get rate quotation and it is this problem which has now led their agents etc to keep silent. Another market grabbing technique launched is NCB protection along with other add on covers, even on taking certain claims. However, mind the word certain claims as NCB protection might be restricted to claims such as glass replacements etc
Ray