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Old 9th November 2017, 18:54   #16
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Smile Re: IRDA issues guidelines for car dealers selling insurance

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Originally Posted by jayakumarkp View Post
While, TATA AIG person (infact multiple people - First the sales person and then his lead) on call insisted that they would provide cashless at Ford dealership. Whom was i to believe.
Generally the Insurance co publish a list of garages with whom they have cashless tie up either on their websites or upon request. If the Ford workshop is mentioned in the list then rest assured, Tata would have the cashless tie up.

Generally, Car manufacturer have a national tie up with a particular Insurance co. For Eg Ford with Royal Sundaram, Fiat with Future Generali and so. The commission earned from these Insurance co during the sale of Insurance co is the highest. The dealers do earn the commission from other Insurance cos, but of varying rates. Hence most dealers/workshops of particular brand tend to push certain Insurance cos and use some strong arm tactics of making the customer fall for the no cashless in case of no policy rule. A knowledgeable customer knows how to work his way out of such tactics.
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Old 10th November 2017, 11:23   #17
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Default Re: IRDA issues guidelines for car dealers selling insurance

Right. The TATA AIG guy insisted and pushed a lot saying Ford dealership is supported for cashless by their team.
However, he could not provide any proof of the same, neither was i able to find Dhone ford, pune listed in their website as cashless supported garage. Hence, decided to stick to RoyalSundaram.
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Old 16th November 2017, 14:30   #18
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Smile Re: IRDA issues guidelines for car dealers selling insurance

Insurance Regulatory and Development Authority of India (IRDAI) vide press release dated November 01, 2017 has launched new portal for Motor Insurance Service Provider (MISP). All General Insurers and Insurance Intermediaries will be required to upload details of MISPs to be appointed by them and the designated persons and sales persons thereof to Insurance Information Bureau of India (IIB) in the formats to be shared with these entities. Data upload of MISPs etc. would be enabled on IIBís Portal commencing November 01, 2017.

https://www.irdai.gov.in/ADMINCMS/cm...eNo3310&flag=1

What this tells is going forward it will be clear whether a said dealer is authorized by the Insurance co to sell the motor policies or not.

The web link for MISP is https://misp.iib.gov.in
The MISP portal web page is still in the stage of infancy. What data would be available to general public will need to be seen in the coming days once the portal is fully functional.
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Old 16th November 2017, 14:37   #19
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Default Re: IRDA issues guidelines for car dealers selling insurance

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Delaership said, they have cashless is available for only NewIndia, Royal Sundaram and one other provider.
When I got my car in June '16, the four "preferred" providers were New India, Royal Sundaram, Iffco Tokio and Bajaj Allianz.

I have a New India policy but from an agent and Talera Ford refused to honor cashless. They say that the policy code is different when you take one from the dealer and they will only honor that.

So, even within these "preferred" providers, cashless is only honored when you take a policy from the dealer, which is at least 20% more than what you can get from other sources. And no, Sai Sakshi Ford (who I got the car from) said they wouldn't match a 20% lower quote.

I'm planning to start a thread on this. I had the same experience with New India at a Hyundai dealership in Gurgaon.
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Old 16th November 2017, 14:58   #20
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Smile Re: IRDA issues guidelines for car dealers selling insurance

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So, even within these "preferred" providers, cashless is only honored when you take a policy from the dealer, which is at least 20% more than what you can get from other sources. And no, Sai Sakshi Ford (who I got the car from) said they wouldn't match a 20% lower quote.
Firstly, you will need to get information from all the Insurance co mentioned above that they have a cashless tie up with that particular workshop.

Secondly, you will need to write to Ford explaining them the arm twisting tactics by the workshop. Tag the dealer and Ford on social media websites about the issue

Thirdly, drop a complaint on IRDA website about unsatisfactory services of the Insurance co. This will force the Insurance co to deal with the workshop.

Hope the above helps.
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Old 16th November 2017, 16:20   #21
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Default Re: IRDA issues guidelines for car dealers selling insurance

^Ditto here. I purchase the insurance for my Civic directly from insurer's website. Though thankfully, I have never required to put up a claim, but I have enquired for the cashless facility many times from the HASS at our place and they have every time told me that the facility will not be cashless, in case the need arises.

Even though the particular Honda authorised service center is in the 'cashless garage list' of the insurer, then I don't understand why they are not providing it to the customers.
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Old 16th November 2017, 19:07   #22
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Default Re: IRDA issues guidelines for car dealers selling insurance

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Firstly, you will need to get information from all the Insurance co mentioned above that they have a cashless tie up with that particular workshop.
Done; they confirmed there was a cashless tie-up.

Quote:
Secondly, you will need to write to Ford explaining them the arm twisting tactics by the workshop. Tag the dealer and Ford on social media websites about the issue
Done.

Ford said the dealer will resolve it; initiated a conference call. Dealer said, "There has to be some motivation for customers to take insurance from the dealer. Afterall, they need some commission too."

Quote:
Thirdly, drop a complaint on IRDA website about unsatisfactory services of the Insurance co. This will force the Insurance co to deal with the workshop
Done. No response.

The same workshop offers cashless from the same insurance provider as long as the policy is issued by the dealer.
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Old 17th November 2017, 08:08   #23
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Angry Re: IRDA issues guidelines for car dealers selling insurance

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Dealer said, "There has to be some motivation for customers to take insurance from the dealer. Afterall, they need some commission too."
What a horse load of BS!!!!.

When even Ford cannot control them, no point in giving them any business. I hope there is an alternate workshop available. I guess Talera Ford must be blacklisted atleast on the BHP forum and any prospective customer should be forewarned of the hassles to be faced.
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Old 28th November 2017, 13:17   #24
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Smile Re: IRDA issues guidelines for car dealers selling insurance

This news came as a bit of surprise.

IRDA has hiked the commission rates for the agents selling motor insurance from the Insurance cos. The commission which Insurance co will pay to an agent for the Comprehensive insurance (covering own damage + TPL) for 4 wheelers has been hiked from existing 10% to 15% and for 2 wheelers from from 10% to 17.5% of the annual premium. For TPL only policies, till date a flat rate of Rs 100 -150 was given to the agents to cover the costs which now has been hiked to 2.5% of the annual premium for both 2 & 4 wheelers.

The above has been effected from 1st Nov 2017.

Details in the below link:
https://www.irdai.gov.in/ADMINCMS/cm...eNo3207&flag=1

What does this mean? This means that Agents will now earn better and are expected to give better if not good service to the customers buying Motor Insurance from them.
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Old 27th December 2017, 13:30   #25
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Default Re: IRDA issues guidelines for car dealers selling insurance

My Alto is due for insurance renewal soon. My dealer - Pratham motors has been using the scare tactics and cashless claim facility BS to coerce me in to buying from them. Here is a poster explaining why Maruti Insurance is best and safe according to them!!


IRDA issues guidelines for car dealers selling insurance-maruthi-benifts.jpg
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