This Policy is applicable to:
All members of Finhaat Group and all Data Processors working with or for Finhaat Group, and who have or may have access to Personal Information, are expected to read, understand and comply with the Policy.
We collect your information through below ways:
By using the Website or purchasing the products or availing the services through the Website, you authorize us to use your information collected by us for the following purposes:
By providing your contact information you have consented to be contacted by us on the said contact information even if the said contact information is registered under the National Do Not Call (“NDNC“) Registry, on your own volition and free will.
Where permitted by Applicable Laws or regulation, you have the right to:
How long we keep the information?
Finhaat Insurance Broking Private Limited collects and processes Personal Information for providing various products / Services, each of which may be subject to minimum or maximum retention periods, as required under Applicable Laws or Finhaat Group’s record retention policy. Finhaat Group also maintains Personal Information supplied by former users / clients, in accordance with its record retention policy.
For Marketing
We may use, analyse and assess information held about you to give you information about products and Services from members of the Finhaat Group, and those selected third parties which we think may interest you by phone, post or other means. We may pass this information to other members of the Finhaat Group so that they may do the same. If you do not wish to avail of such services, you can notify us of your preference by contacting us as described in the “Contact Us” section.
For Legal Reasons
Finhaat Group reserves the right to transfer or disclose Personal Information about you to third parties for legal purposes in confirmation with Data Protection Laws.
Our Website may use “cookies” to enhance user experience. User’s web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some features of the Website may not function properly.
We use cookies to:
Any personal data can only be used, transferred or disclosed by Finhaat Insurance Broking Private Limited for providing Services and fulfilling its obligations for providing the Services, including internal business or operational purposes of the FinHaat Group such as research on other financial needs of the individual, benchmarking, statistical analysis, credit assessment, crime prevention, surveys and other compilations of information, which are designed to help you to more effectively assess your risks, make more informed decisions and to assist Finhaat Insurance Broking Private Limited to construct insurance programmes and other risk mitigation strategies as well as construct other products and services to serve the your financial needs. Finhaat Insurance Broking Private Limited (or other members of the Finhaat Group) may in some instances receive compensation for its analytics offerings from clients, insurers and others.
Notwithstanding anything stated herein above, all information shared by you will be shared and stored only within India.
You may find content on our Website that links to the websites and services of insurance companies which may appear on our Website for online sale of insurance. We do not control the content or links that appear on these websites and are not responsible for the practices employed by websites linked to or from our Website. In addition, these websites or services, including their content and links, may be constantly changing. These websites and services may have their own privacy policies and customer service policies. Browsing and interaction on any other website, including websites which have a link to our Website, is subject to that website’s own terms and policies.
We will take all reasonable technical and organizational precautions to prevent the loss, misuse or alteration of customers’ Personal Information. All the Personal Information provided by you are stored on our secure (password and firewall protected) servers. All electronic financial transactions entered into through Website will be protected by encryption technology.
Finhaat Insurance’s may, at its discretion update this Privacy Policy at any time intimating you by email and displaying the date of last update of the Privacy Policy at the bottom of this page. We encourage you to frequently check this page for any changes to stay informed about how we are helping to protect the Personal Information we collect. You acknowledge and agree that it is your responsibility to review this Privacy Policy periodically and become aware of modifications.
We reserve the right to change or update this policy at any time by placing a prominent notice on our site. Such changes shall be effective immediately upon posting to this site.
Information, content and materials provided on this website are on an “As Is” basis and we do not make any express or implied representation or warranty regarding the accuracy or completeness of the same.
The following includes the information protection and privacy guidelines for Finhaat Insurance Broking Private Limited:
Finhaat Insurance Broking Private Limited also takes appropriate technical, physical, legal and organizational measures, which are consistent with applicable information security standards. If you feel that the security of any Personal Information you might have shared with us has been compromised or if you have other data security questions or concerns related to Finhaat Insurance Broking Private Limited, please notify us at the address details or through email communication as mentioned on the Website.
When Finhaat Insurance Broking Private Limited provides Personal Information to Finhaat Group, Finhaat Group will be required to use appropriate measures reasonably designed to protect the confidentiality and security of the Personal Information.
If we believe the security of your Personal Information in our possession or control may have been compromised, we may seek to notify you of that development. If a notification is appropriate, we would endeavour to do so as promptly as possible under the circumstances, and, to the extent we have your e-mail address, we may notify you by e-mail.
You have the right to request that we remove your Personal Information from our databases and the right to access, update and correct inaccuracies in your Personal Information in our custody or control, subject to certain exceptions prescribed by law. If you choose not to have your Personal Information used to support our relationship (especially direct marketing or market research) or wish to withdraw your consent from processing your Personal Information or to share your Personal Information with third party or to amend/update the Personal Information, please contact us at Finhaat Insurance Broking Private Limited. However, if you do withdraw your consent, we may still be able to process some of the data that you have provided to us on other grounds and will notify you of these at such time.
If you have any questions, would like further information about our privacy and information handling practices, would like to discuss opt-outs or withdrawing consent, or would like to make a complaint about a breach of this Privacy Policy, please contact the Grievance Officer: [email protected]
Alternatively, you have the right to contact your local data protection authority.
If you have any questions relating to this Privacy Policy, please contact us at:
Office No 101, First Floor, Om Sadan, Mehra Estate, LBS Marg, B/h Jaswanti Landmark, Vikhroli- West, Mumbai- 400079
Or
By sending an email at [email protected].
1. Name of the company : Finhaat Insurance Broking Private Limited
2. Address : Office No 101, First Floor, Om Sadan, Mehra Estate, LBS Marg, B/h Jaswanti Landmark, Vikhroli- West, Mumbai- 400079.
3. CIN No. : U66000MH2021PTC370496
4. Tel No. : 022-46055160
5. Email ID : [email protected]
6. IRDAI License no. 820
7. Category – Direct (Life & General)
8. Validity 30th May 2025
9. For any grievance, please write to us on [email protected]
Insurance is a subject matter of Solicitation
Grievance Redressal Policy
Introduction
Finhaat Insurance Broking Private Limited (hereinafter referred as “Finhaat”) believes that excellence in customer service is one of the most important tools for sustained business growth. Therefore, the company follows a philosophy of providing resolution of the customers’ complaints/grievances in a manner that effectively resolves their complaints to their satisfaction.
Objective
The objective of this policy is to provide efficient & effective grievance redressal mechanism to policyholders, nominees and other persons claiming under policies distributed by Finhaat and has been formulated taking into account the following considerations:
• Complaints raised by customers are dealt with courtesy and on time.
• Customers are treated fairly at all times.
• Complete transparency is maintained with the customers.
• All complaints are dealt with efficiency and fairness.
• Customers are fully informed about avenues to escalate their complaints / grievances within the organization.
• Customers are informed about their rights to alternative remedy if they are not fully satisfied with the response of Finhaat to their complaints.
• Recognize that our quality and business goals go hand-in-hand and to have continual improvement of the customer complaint handling process through the use of various tools and information technology available for business process improvement.
Scope
The policy shall cover all the complaints/grievances received from the policy holders or their nominees, beneficiaries or authorized persons (with the written consent of the concerned policy owners). Finhaat will not accept any complaint from a third party or agency acting on behalf of the customer unless we have written consent from the policy holder.
Grievances received from consumer forums or ombudsman office or court will be dealt separately by Finhaat’s legal team.
Inquiry or Request are not covered under this policy.
Definitions
“Complainant” means a policyholder or prospect or any beneficiary of an insurance policy who has filed a complaint or grievance against the insurer or Finhaat.
“Complaint” or “Grievance” means written expression (includes a communication in the form of electronic mail or other electronic scripts), if dissatisfaction by a complainant with insurer, Finhaat or other regulated entities about an action or lack of action about the standard of service or deficiency of service of such insurer, Finhaat or other regulated entities
Explanation – An inquiry or request would not fall within the definition of the complaint or grievance.
An Inquiry and Request would mean the following:
An “Inquiry” is defined as any communication from a customer for the primary purpose of requesting information about a company and/or its services.
A “Request” is defined as any communication from a customer soliciting a service such as a change or modification in the policy
Complaint Redressal Process
If you have a grievance that you wish to redress, you may contact us with the details of your grievance through any of the following channels:
Step 1 : Channel for communication
• Email: [email protected] or
• Letter: Grievance Officer, Finhaat Insurance Broking Private Limited, address
Step 2: Process for addressing the queries
• All grievances which are received electronically will be acknowledged within 24 working hours of the receipt of the complaint.
• All physical letters by courier will be answered within 14 days from the date of receipt.
• All grievances from walk in customers and through the contact centre will be acknowledged immediately and a log shall be maintained in this regard.
• Based on the type of grievance, Finhaat shall make all efforts to resolve the same within 14 working days from the date of receipt of the complaint.
• Once the complaint is resolved, a closure e-mail/letter shall be sent to the customer with the request to rate the service offered.
Step 3: Escalation Matrix
If a client is not satisfied with the resolution provided through any of the channels, the client has the option to escalate the issue to a higher level, as per the escalation matrix given underneath
• Level 1: In case the customer is not satisfied with the decision or has not received any response withing 14 working days, he/she may escalate the matter to the Grievance Redressal Officer, at [email protected].
• Level 2: If still not satisfied after level 1, please escalate the matter to the Principal Officer at [email protected]
• Level 3: If after having followed Level 1 and Level 2, your issue remains unsolved, you may approach The Insurance Regulatory Development Authority of India (IRDAI) at http://www.policyholder.gov.in/report.aspx# or Ombudsman at http://www.ecoi.co.in/procedure.html respectively,
Step 4: Resolution of Grievances
Finhaat endeavours to resolve all grievances to the satisfaction of their customers. In order to ensure fair resolution for the customers, the Regulator has set conditions for treating the grievances as closed. As per IRDAI regulations, a grievance shall be considered as disposed-off and resolved:
• When Finhaat has acceded to the request of the complainant fully. or
• Where the complainant has indicated in writing, acceptance of the response of Finhaat. or
• Where the complainant has not responded to Finhaat within 8 weeks of Finhaat’s written response.
Grievance Officer at Finhaat branches
The branch head will be the Grievance Officer for the particular branch. The complaint should be made in writing, duly signed by the complainant or by his/her legal heirs, with full details of the complaint and the contact information of complainant.
MIS
Finhaat will maintain an updated complaints register as per the prescribed format for review by all internal/external stakeholders.
Insurance Regulatory and Development Authority of India (Insurance Brokers)
Regulations, 2018
SCHEDULE I – Form H
(see regulation 30 ®ulation 8(2)) CODE OF CONDUCT – Insurance Broker
Every insurance broker shall follow recognized standards of professional conduct and discharge their functions in the interest of the clients or policyholders.
1. Conduct in matters relating to client’s relationship— Every Insurance Broker shall:
(a) conduct our dealings with clients with utmost good faith and integrity at all times.
(b) act with care and diligence.
(c) ensure that the client understands his relationship with us and those who are working on our behalf.
(d) treat all information supplied by the prospective clients as completely confidential to themselves and to the insurer(s) to which the business is being offered.
(e) take appropriate steps to maintain the security of confidential documents in their possession.
(f) hold specific authority of client to develop terms.
(g) understand the type of client we are dealing with and the extent of the client’sawareness of risk and insurance.
(h) obtain written mandate from client to represent the client to the insurer and communicate the grant of a cover to the client after effecting insurance.
(i) obtain written mandate from client to represent the client to the insurer/ reinsurer; and confirm cover to the insurer after effecting re-insurance and submit relevant reinsurance acceptance and placement slips.
(j) avoid conflict of interest.
2. Conduct in matters relating to Sales practices— Every Insurance Broker shall:
(a) confirm that we are a member of the Insurance Brokers Association of India or such a body of brokers as approved by the Authority which has a memorandum of understanding with the Authority;
(b) confirm that we do not employ agents (Except as allowed under Extant IRDA guidelines) to bring in business.
(c) identify ourselves and explain as soon as possible the degree of choice in the products that are on offer;
(d) ensure that the client understands the type of service we can offer;
(e) ensure that the policy proposed is suitable to the needs of the prospective client;
(f) give advice only on those matters in which it is knowledgeable and seek or recommend other specialist for advice when necessary;
(g) not make inaccurate or unfair criticisms of any insurer or any member of the Insurance Brokers Association of India or member of such body of brokers as approved by the Authority;
(h) explain why a policy or policies are proposed and provide comparisons in terms of price, cover or service where there is a choice of products;
(i) state the period of cover for which the quotation remains valid if the proposed cover is not effected immediately;
(j) explain when and how the premium is payable and how such premium is to be collected, where another party is financing all or part of the premium, full details shall be given to the client including any obligations that the client may owe to that party; and
(k) explain the procedures to follow in the event of a loss.
3. Conduct in relation to furnishing of information — Every Insurance Broker shall: —
(a) ensure that the consequences of non-disclosure and inaccuracies are pointed out to the prospective client;
(b) avoid influencing the prospective client and make it clear that all the answers or statements given are the latter’s -own responsibility. Ask the client to carefully check details of information given in the documents and request the client to make true, fair and complete disclosure where it believes that the client has not done so and in case further disclosure is not forthcoming it should consider declining to act further;
(c) explain to the client the importance of disclosing all subsequent changes that might affect the insurance throughout the duration of the policy; and
(d) disclose on behalf of its client all material facts within its knowledge and give a fair presentation of the risk.
4. Conduct in relation to explanation of insurance contract — Every Insurance Broker shall:
(a) provide the list of insurer(s) participating under the insurance contract and advise any subsequent changes thereafter;
(b) explain all the essential provisions of the cover afforded by the policy recommended by him/her so that, as far as possible, the prospective client understands what is being purchased;
(c) quote terms exactly as provided by insurer;
(d) draw attention to any warranty imposed under the policy, major or unusual restrictions, exclusions under the policy and explain how the contract may be cancelled;
(e) provide the client with prompt written confirmation that insurance has been effected. If the final policy wording is not included with this confirmation, the same shall be forwarded as soon as possible;
(f) notify changes to the terms and conditions of any insurance contract and give reasonable notice before any changes take effect;
(g) advise our clients of any insurance proposed on their behalf which will be effected with an insurer outside India, where permitted, and, if appropriate, of the possible risks involved; and
5. Conduct in relation to renewal of policies — Every Insurance Broker shall:—
(a) ensure that our client is aware of the expiry date of the insurance even if it chooses not to offer further cover to the client;
(b) ensure that renewal notices contain a warning about the duty of disclosure including the necessity to advise changes affecting the policy, which have occurred since the policy inception or the last renewal date;
(c) ensure that renewal notices contain a requirement for keeping a record (including copies of letters) of all information supplied to the insurer for the purpose of renewal of the contract;
(d) ensure that the client receives the insurer’s renewal invitation well in time before the expiry date.
6. Conduct in relation to claim by client— Every Insurance Broker shall: —
(a) explain to our clients their obligation to notify claims promptly and to disclose all material facts and advise subsequent developments as soon as possible;
(b) request the client to make true, fair and complete disclosure where it believes that the client has not done so. If further disclosure is not forthcoming it shall consider declining to act further for the client;
(c) give prompt advice to the client of any requirements concerning the claim;
(d) forward any information received from the client regarding a claim or an incident that may give rise to a claim without delay, and in any event within three working days;
(e) advise the client without delay of the insurer’s decision or otherwise of a claim; and give all reasonable assistance to the client in pursuing his claim.
Provided that Finhaat shall not take up recovery assignment on a policycontract which has not been serviced through him or should not work as a claims consultant for a policy which has not been serviced through us.
7. Conduct in relation to receipt of complaints — Every Insurance Broker shall:—
(a) ensure that letters of instruction, policies and renewal documents contain details of complaints handling procedures;
(b) accept complaints either by phone or in writing;
(c) acknowledge a complaint within fourteen days from the receipt of correspondence, advise the member of staff who will be dealing with the complaint and the timetable for dealing with it;
(d) ensure that response letters are sent and inform the complainant of what he may do if he is unhappy with the response;
(e) ensure that complaints are dealt with at a suitably senior level;
(f) have in place a system for recording and monitoring complaints.
8. Conduct in relation to documentation — Every Insurance Broker shall:—
(a) ensure that any documents issued comply with all statutory or regulatory requirements from time to time in force;
(b) send policy documentation without avoidable delay,
(c) make available, with policy documentation, advice that the documentation shall be read carefully and retained by the client;
(d) not withhold documentation from our clients without their consent, unless adequate and justifiable reasons are disclosed in writing and without delay to the client. Where documentation is withheld, the client must still receive full details of the insurance contract;
(e) acknowledge receipt of all monies received in connection with an insurance policy;
(f) ensure that the reply is sent promptly or use our best endeavours to obtain a prompt reply to all correspondence;
(g) ensure that all written terms and conditions are fair in substance and set out, clearly and in plain language, client’s rights and responsibilities; and
(h) subject to the payment of any monies owed to it, make available to any new insurance broker instructed by the client all documentation to which the client is entitled and which is necessary for the new insurance broker to act on behalf of the client.
9. Conduct in matters relating to advertising — Every Insurance Broker Shall:
(a) ensure that statements made are not misleading or extravagant;
(b) where appropriate, distinguish between contractual benefits which the insurance policy is bound to provide and non-contractual benefits which may be provided;
(c) ensure that advertisements shall not be restricted to the policies of one insurer, except where the reasons for such restriction are fully explained with the prior approval of that insurer;
(d) ensure that advertisements contain nothing which is in breach of the law nor omit anything which the law requires;
(e) ensure that advertisement does not encourage or condone defiance or breach of the law;
(f) ensure that advertisements contain nothing which is likely, in the light of generally prevailing standards of decency and propriety, to cause grave or widespread offence or to cause disharmony;
(g) ensure that advertisements are not so framed as to abuse the trust of clients or exploit their lack of experience or knowledge;
(h) ensure that all descriptions, claims and comparisons, which relate to matters of objectively ascertainable fact shall be capable of substantiation.
10. Conduct in matters relating receipt of remuneration— shall:—
(a) disclose whether in addition to the remuneration prescribed under these regulations, proposes to charge the client, and if so in what manner;
(b) advise the client in writing of the insurance premium and any fees or charges separately and the purpose of any related services;
(c) if requested by a client, disclose the amount of remuneration or other remuneration it receives as a result of effecting insurance for that client. This will include any payment received as a result of securing on behalf of the client any service additional to the arrangement of the contract of insurance; and
(d) advise our clients, prior to effecting the insurance, of their intention to make any deductions from the amount of claim collected for a client, where this is a recognised practice for the type of insurance concerned.
11. Conduct in relation to matters relating to training — We shall:
(a) Ensure that our staff are aware of and adhere to the standards expected of
them by this code.
(b) ensure that staff are competent, suitable and have been given adequate training;
(c) ensure that there is a system in place to monitor the quality of advice given by our staff.
(d) ensure that members of staff are aware of legal requirements including the law of agency affecting their activities; and only handle classes of business in which they are competent.
(e) draw the attention of the client to Section 41 of the Act, which prohibits rebating and sharing of commission.
12. Display in our every office where it is carrying on business and to which the public have access a notice to the effect that a copy of the code of conduct is available upon request and that if a member of the public wishes to make a complaint or requires the assistance of the Authority in resolving a dispute, he may write to the Authority.
13. We shall not act as an insurance agent of any insurer under section 42 of the Act.
14. We shall abide by the provisions of the Insurance Act,1938 (4 of 1938), Insurance Regulatory and Development Authority Act 1999(41 of 1999), rulesand regulations made there under which may be applicable and relevant to the activities carried on by us as an insurance broker.
What is an e-Insurance Account (eIA)?
It is an electronic account opened by a person with an insurance repository wherein the portfolios of insurance policies of a policyholder are held in an electronic form.
Features of an E-insurance Account:
An E-Insurance account entails the following key features:
Hassle-free management
With the help of the E-Insurance account, you can access and manage all your policies in one place via a Unique Login ID and Password that is accorded to each account holder.
One-time KYC
On the opening of an E-insurance Account, you are no longer required to submit KYC details again at the time of buying a new policy. Simply mention your EIA number and secure a new policy with ease.
One comprehensive account
Policyholders can store electronic insurance policies (including life, pension, and health insurance policies) of multiple insurers in the same account. There is no need to open a separate account for different policy providers.
Benefits of an eIA
Protection from theft or damage
Since the policies are stored electronically in the E-Insurance Account, users are protected from theft or damage of policy papers.
Ease of tracking
The Unique EIA number and credentials make it easy to track the policy online and pay premiums on time without delay.
Convenience : All policy details are available in one place.
Single point of service : Changes in contact details get auto-updated in all your policies
How to open an eIA?
Insurance Regulatory and Development Authority of India (IRDAI) has granted the Certificate of Registration to the following four entities to act as ‘Insurance Repositories’ that are authorized to open eIA. You can open an e-insurance account with any of the following IRDAI registered Insurance Repositories.
The below list is subject to change from time to time
Step 1
Download eIA opening form of your preferred Insurance Repository from below links:
Name of the Insurance Repository Website Link
NSDL National Insurance Repository (NIR) www.nir.ndml.in
CDSL Insurance Repository Limited www.cirl.co.in
Karvy Insurance Repository Limited www.kinrep.com
CAMS Insurance Repository Services Limited www.camsrepository.com
Step 2
Fill the form and attach self-attested copy of below mention required documents:
Proof of Identity such as PAN card, Voter ID, or Aadhaar card
Proof of address such as Driving License, Ration card, or Aadhaar card
Proof of date of Birth.
Cancelled cheque.
Step 3
Submit e-Insurance Account Opening Form along with the KYC documents to the nearest office of Insurance Repository or Insurance company or authorized Approved Person (AP) appointed by Insurance Repository.
Step 4
Once an e-Insurance account is created, you will receive a welcome kit. A pin mailer shall be sent separately. Using the login credentials and PIN, you can access and start using your e-Insurance account.
Note: – We have created this page to provide assistance and information to our valuable customers/visitors regarding e-insurance accounts. For any assistance in opening an eIA account, please speak to your FIBPL service provider or contact ______________
We are committed to providing you with the best possible service and will make every effort to address your concerns in a timely and helpful manner.
FAQs
1.What are the charges to open an E-Insurance Account?
There are no charges to open an E-Insurance Account for the customer. It is available free of cost to the applicants.
2.Can an Individual open more than one E-Insurance Account?
An Individual cannot open more than one E-Insurance Account as per the IRDAI guidelines.
3.Which are the Insurance Policies that can be maintained using the E-Insurance Account.
Currently, all Life Insurance, Health Insurance, General Insurance, and Annuity Policies issued by duly registered insurance providers can be maintained online using an E-Insurance Account.
When you voluntarily send us electronic mail / fillup the form, we will keep a record of this information so that we can respond to you. We only collect information from you when you register on our site or fill out a form. Also, when filling out a form on our site, you may be asked to enter your: name, e-mail address or phone number. You may, however, visit our site anonymously. In case you have submitted your personal information and contact details, we reserve the rights to Call, SMS, Email or WhatsApp about our products and offers, even if your number has DND activated on it.
I, hereby declare that I have read and understood the Privacy Policy and accept the terms and conditions contained in the Privacy Policy.