Mumbai, India
inquiry@insurancellello.com
Your claim was approved. The money never arrived. Sixty days passed. A hundred days. The customer-care line cycles between “under processing” and “with the bank”. IRDAI has hard TATs — and they include interest.
IRDAI’s Protection of Policyholders’ Interests Regulations are explicit: a claim must be settled within 30 days of receipt of the last required document, or interest at 2% above bank rate applies. This protection is routinely ignored — sometimes because the insurer’s claim system is slow, sometimes deliberately. The remedies are well-established and powerful when invoked correctly.
We log the exact date of complete documentation, calculate the IRDAI TAT, and on day 31 we send a formal interest-demand letter. The very act of calculating and demanding interest typically accelerates settlement within 7-14 days. Where it does not, we file with the Ombudsman, who has consistently awarded interest and even compensation for “mental harassment” in delay cases.
A precise calculation of the IRDAI turnaround time clock for your specific claim.
Statutory interest of bank-rate +2% on the delayed amount, recovered alongside the principal.
A complete escalation file to the insurer's nodal officer, IRDAI Bima Bharosa and Ombudsman, in that order.
Where mental harassment and procedural lapses are evident, we petition for compensation under consumer law.
We pin down the date from which IRDAI's 30-day clock runs — usually the date the insurer received the last document.
A formal demand letter to the claims head citing the regulation, the calculated interest, and a 7-day window for settlement.
If unresolved, complaints filed with the IRDAI Bima Bharosa portal and Insurance Ombudsman simultaneously.
Principal + interest + any compensation credited. The interest typically more than covers our success fee.
Send us the denial letter or short-settlement note. We will tell you within 48 hours whether — and how — we can recover it.