helpdeskpos@hudsonbroker.in
+91 6283062011
#AapkeSaath : Hotline
Log In Your PoSP Account
  • Home
  • About Us
    • About Policy Ensure
    • #BhaviBharat by Rahul and Pankaj
  • Insurance
    • Motor Insurance
    • Health Insurance
    • Accidental Insurance
    • Cattle Insurance
    • Home Insurance
    • Covid 19 Insurance
  • Become a PoSP Advisor
  • PR and News Updates
  • Blog
  • Contact Us
  • Home
  • About Us
    • About Policy Ensure
    • #BhaviBharat by Rahul and Pankaj
  • Insurance
    • Motor Insurance
    • Health Insurance
    • Accidental Insurance
    • Cattle Insurance
    • Home Insurance
    • Covid 19 Insurance
  • Become a PoSP Advisor
  • PR and News Updates
  • Blog
  • Contact Us
  • Home
  • About Us
    • About Policy Ensure
    • #BhaviBharat by Rahul and Pankaj
  • Insurance
    • Motor Insurance
    • Health Insurance
    • Accidental Insurance
    • Cattle Insurance
    • Home Insurance
    • Covid 19 Insurance
  • Become a PoSP Advisor
  • PR and News Updates
  • Blog
  • Contact Us
  • #AapkeSaath : Hotline
  • Log In Your PoSP Account
  • Home
  • About Us
    • About Policy Ensure
    • #BhaviBharat by Rahul and Pankaj
  • Insurance
    • Motor Insurance
    • Health Insurance
    • Accidental Insurance
    • Cattle Insurance
    • Home Insurance
    • Covid 19 Insurance
  • Become a PoSP Advisor
  • PR and News Updates
  • Blog
  • Contact Us
  • #AapkeSaath : Hotline
  • Log In Your PoSP Account
Blog
Home PR & News Update No More Mis-Selling of Insurance in non-metro cities.
PR & News Update

No More Mis-Selling of Insurance in non-metro cities.

Policy Ensure May 30, 2022 0 Comments

“It’s not just the insurance you have provided us with. It’s like a social security for us. Better than any government card. Their benefits don’t reach us. And until now it was difficult to trust the insurance companies or their agents for the fake commitments, they have made to us for years- just to sell the policy,” These are the words of one the happy customers of Policy Ensure from a smaller city.

Insurance mis-selling is not something new.  The government regulators like IRDAI are working towards curbing it however are not very successful because of geographical constraints and mis representation of information especially in tier 2-3 cities.

“Over the years, insurance is probably the one financial product that has been mis-sold the most. One reason is lack of involvement of the buyer and the other reason is false explanations by the agent.”—Outlook (January 2022)

Policy Ensure took an exhaustive look into this challenging area of concern for non-metro cities and customers to understand the different forms of mis-selling such as forging benefits, exaggerating benefits, misrepresentation of the policy, miscalculating benefits, bundling insurance policies, or false promises of bonus and additional benefits.

Eventually there is a financial loss as the premium paid gets wasted and the features or benefits are of no use to the customer. Sometimes policy sold is not best suited to their requirements, they stop paying for it and the premium paid in the past gets wasted.

It doesn’t stop here. Even the bigger loss is when the beneficiary in the customer’s family who was supposed to get these benefits or sum assured, is left with no support in the long run.

“Policy Ensure would stand out as first preference of the insurance customers if able to address this bigger issue of mis-selling along with relevant reach to every part of real India i.e Bharat” says Rahul M Mishra, Co-founder, Policy Ensure.

That’s where the blend of digital with physical distribution network was done by using PHYGITAL approach.

“This blend brings in the benefits of Insurance aggregator model with complete information availability about insurance products through digital assets and platforms with no ambiguity or mis-representation. At the same time, it added more value by putting a well-connected physical distribution network in place with technology enablement.  As we worked towards and envisioned for Policy Ensure to bring the necessary credibility to insurance sector” shared Pankaj Vashistha (PV), Co-Founder, Policy Ensure.

The PHYGITAL approach has enhanced the awareness among buyers in a very friendly way. Customers can get involved in the buying process. They can look at the complete information about different plans in a transparent manner as published. Then there is also a local hand holding available of Policy Ensure team so that the buyers can make the right selection by comparing plans, benefits, Advantages, features and quotes given by different insurers.

“In coming days chances are very high that customer will start seeing insurance as ‘insurance only’ rather treating it as some kind of an investment plan or to buy because of freebies upon purchase of insurance policy”- added PV

83
904 Views
India’s first and fastest growing PHYGITAL insurance distribution networkPrevIndia’s first and fastest growing PHYGITAL insurance distribution networkMay 30, 2022
India’s 1st and fastest growing PHYGITAL insurance distribution networkMay 30, 2022India’s 1st and fastest growing PHYGITAL insurance distribution networkNext

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • How to Find the Best Affordable Health Insurance Plans in 2025 Blog Image
    How to Find the Best Affordable Health Insurance Plans in 2025
  • Benefits of Becoming a POSP Agent in India Blog Image
    Benefits of Becoming a POSP Agent in India
  • How to Become a POSP Insurance Agent: Skills You Need for Success Image
    How to Become a POSP Insurance Agent: Skills You Need for Success
  • Become a POSP Advisor Myths vs. Realities Image
    Become a POSP Advisor: Myths vs. Realities
  • Conclusion Choosing the best home insurance policy advisor is a significant step in securing the right coverage for your home. By assessing your needs, checking qualifications, and evaluating their market knowledge and customer service, you can find an advisor who will guide you through the complexities of home insurance. With the right support, you’ll not only protect your investment but also potentially save on costs. Start your search today, and make sure your home is safeguarded with the best insurance policy tailored to your needs. Blog Image
    How to Choose the Best Home Insurance Policy Advisor for Your Needs

Archives

  • January 2025
  • December 2024
  • November 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • August 2022
  • June 2022
  • May 2022
  • April 2022

categories

  • Blog
  • Health Insurance
  • Micro Insurance
  • PR & News Update
  • Vehicle Insurance

With the aim of making India independent and secured, Policy Ensure has taken an initiative to increase employment and being a catalyst for the growth of small towns by using the PHYGITAL way!
Insurance
Motor Insurance
Health Insurance
Accidental Insurance
Cattle Insurance
Home Insurance
Covid 19 Insurance
Contacts
Registered Office: Hudson Insurance Brokers Pvt. Ltd. Flat No. F-23, 2nd Floor Block-F, Uppal Marble Arch, Manimjra- Chandigarh 160001
Corporate Office: Hudson Insurance Brokers Pvt. Ltd. 207, 2nd Floor, Time Tower, Sec-28, Gurugram, Haryana-122001.
Email: helpdeskpos@hudsonbroker.in
Phone: +91 6283062011
Important Links
Hudson Insurance Brokers Pvt Ltd IRDAI License No. 302

Copyright © 2025. All Rights Reserved.

Get Instant Motor Insurance On Policy Ensure

 

    Become a PoSP Advisor

     

      Get Instant Health Insurance On Policy Ensure

       

        Get Instant Accidental Insurance On Policy Ensure

         

          Get Instant Cattle Insurance On Policy Ensure

           

            Get Instant Home Insurance On Policy Ensure

             

              Get Instant Covid 19 Insurance On Policy Ensure

                WhatsApp us