Insurance sector is playing a very important role in the development of India. India is the fifteenth largest insurance market in the world in terms of premium. But there are some common perceptions about the insurance company from people point of view which leads to emergence of various types of complaints (Grievance). People are of the opinion that insurance companies always create hurdles at the time of claims which creates lots of disturbance and it can be the main reason of downfall in the number of policies issued in future. In order to remove various hurdles Insurance Regulatory and Development Authority (IRDA) has set up proper grievance redressal procedure and insurance ombudsman scheme. So in this research paper we will study the performance of insurance ombudsmen set up in different areas by IRDA. We will take the data related to complaints and number of policies issued after liberalization of Indian economy. And we will apply the statistical tool like growth rate and correlation in order to find out the results.
Complaints, Life Insurance, Non-Life insurance, Policies, Ombudsman
