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Old 5th January 2006, 22:41   #106
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RTech, Sorry to know about your experience with ICICI-Lombard (I've just returned from a long holiday)...

I'm happy that (1) you've taken courage to do the right thing after an accident, (2) follow the correct procedures even though ICICI-Lombard is choosing to harass you, and (3) you've decided to pursue the matter to its logical/legal end-point.

Some pieces of advice:

1. Keep a chronological diary of events and keep it strictly objective, factual and bullet-pointed. Do not use any emotional or judgemental statements in your notings or replies. Just enter facts such as... "...Received unsigned fax from __ on __ at __ stating Pacemaking clauses...", "...Sought clarification from __ on applicability of Pacemaking clauses to my claim case on __ at__...", etc.

2. Send all replies in writing. If ICICI-Lombard refuses to give you a reply in writing but tells you something over 'phone or one-to-one, minute the discussions and send to them with a line to acknowledge. In all probability, they won't acknowledge, which will only strengthen your case.

3. After 2 reminders on any unresolved issue, escalate stage-by-stage up their heirarchy with a copy to their lower mortals. Never escalate directly to CEO levels, unless somebody within their organisation advises, which once again should be minuted (name/ designation/ tel or email ID/ date/ time/ context)...

4. Give 3 business days as deadline (unless they revert with a different definite timeline) for initial correspondence, 2 for escalations and 1 when you reach any Director-level escalations.

If you are in the right, sheer perseverence, persistence and cool, objective, non-abusive assertion will unnerve even the most arrogant clerk (by whatever designation he/she may be operating) in any organisation. Finally, if and when you decide to go to court, any judge should be impressed by your diligence and that's 90% victory! In my experience, any case escalated to levels of Directors with such diligent evidence will be settled very, very, amicably. If not, publicise in every possible way.

Thanks to this narration of your experience, as well as due to their very unprofessional telephone manners, renewal of my ICICI-Lombard insurance will go to somebody else (considering New India or Tata-AIG). As far as experience with ICICI bank is concerned, the less said the better, and I have severed all ties with them.

Last edited by msprabhakar : 5th January 2006 at 23:01.
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Old 5th January 2006, 22:48   #107
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Default Great Advise

Dear msprabhakar,

Thats a great piece of advice, which could benefit all team-bhp members. I am impressed & Thank you

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Old 7th January 2006, 01:38   #108
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Exclamation Beware of ICICI bank.

Namaskara/Namaskar/Hello to all Team-bhp folks...
a newbie here!...and kicking myself for not finding out this website earlier!

Anyway, I will start off with a CRIB

I had a bad experience with ICICI... I would like to warn all members from using their services.

All of a sudden I used to get calls from ICICI (may be the call center folks)...saying one instalment is due..(cheque bounced!)...I checked my bank account and every cheque was processed...they even levied a fine for it...then I asked them which month...once they said...Saar, June... next time Saar, August... it went on....
then they said there was a major issue in one of the banks and they apparently lost the cheque..!! (ONE CHEQUE!! among all of them)...anyway, the worst part is they used to call almost daily..and everytime it was a new person who didnt know what the hell was happening earlier (personalized banking ONLY exists with Nationalised banks...take it from me)...everytime it was a new reason and new month..finally I had to go to the MG road branch, wait for hours...and then they said...Saar, everything is alright.... BOY you should go to the ICICI bank next to CENTRAL....you will only hear people shouting....(may be it was only on the day I went...anyways)

So, the question is, if I had given a cheque without doing my homework...they would have pocketed the money...and if this trick works on 1000 folks...the quarterly results are blooming.....

Another thing is to check out the EMI.....ask them the rate of interest and calculate the EMI yourself...lot of mistake have happened earlier... (commerce folks can give the formula...my dad verified it for me )

Good luck folks...

Last edited by Aditya : 20th January 2006 at 14:44.
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Old 9th January 2006, 23:32   #109
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I am saddened and heart wrenched with the kind of system, which we have to live in. But that does not weaken me yet, as I still have a little faith in our judiciary. If you fight it till the very last, I am sure you will get the dues paid; BHPians would NOT allow you to give up at any moment that is for sure!

Our best wishes to you and I hope you bring down the wrongdoers, right from the Police Inspector to ICICI daemons!!!

ICICI!!! I hate that name already….

Rtech, you are lucky you have Team-BHP to talk with, there are millions of Indians who don’t have the support, and they keep fighting for years and years, live their entire life, fighting for their rights …

Last edited by sharpnish : 9th January 2006 at 23:37.
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Old 10th January 2006, 23:58   #110
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Default Which are the better insurance comapnies...

I'm extermely sorry to learn ICICI's behaviour. Hope it gets resolved soon. I'm looking to buy insurance and based on members feedback New India Insurance and Bajaj Allianz seem to be better choice. Can members suggest alternatives based on their experience ?
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Old 11th January 2006, 22:37   #111
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sorry to hear about your ordeal rtech. we seldom have a chance to test the efficiency of the insurance companies, and therefore, we cannot comment which company is better. i personally feel it is the relationship with the branch head or other executives in the company, that can speed up settlements of high amounts.

with my experience in both public and pvt. sector banking, i can say that basically, it is the individual, who makes or breaks the reputation of the organisation. anyway, i shall find out from ICICI lombard if anything can be done in this regard.
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Old 12th January 2006, 01:05   #112
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Originally Posted by r2i
I'm extermely sorry to learn ICICI's behaviour. Hope it gets resolved soon. I'm looking to buy insurance and based on members feedback New India Insurance and Bajaj Allianz seem to be better choice. Can members suggest alternatives based on their experience ?
I agree that ICICI bank's reputation is quite poor when it comes to loan-repayments.. The bank resorts to harrassment of the worst type.. To give an instance, ICICI bank was charging me Rs 225 every month because my payment was getting credited 2-3 days after the due date. Later i proved to them that the problem is with the bank's processes, since i had an Automated Electronic Fund Clearance from my account.. Never-the-less, i got my money back.. But if i had been ignorant, ICICI bank would have debited money from my account for no good reason..
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Old 12th January 2006, 16:49   #113
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Thumbs down ICICI are crooks

These crooks robbed by 75 year old father ..
Slick marketing agents sold him the policy and now when the time has come to settle a claim they are yet to honour it despite numerous emails , phone calls for 4 months..
So much for 'Lightning Settlement'
Planning to move the consumer courts this month..
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Old 12th January 2006, 16:57   #114
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Cool "hum hai naa" sucks

hey rtech
sorry for the experience and also wanted to say that u did a nice job by thaking the injured ones to the hospital first without any hesitation that in todays time some people do.And lastly the bank ICICI i think r not less then cheaters i think u should not leave those brats and must kick their backs...
hey man i think that we should circulate ur insident via mail 2 as many people as we can so wat do u think
and thier slogan must be changed
it should be

Note From Moderator - Please refrain from using or implying foul language.

Last edited by Rehaan : 21st January 2006 at 04:38.
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Old 20th January 2006, 14:14   #115
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Ok. It's finally over!

We hand delivered a final letter to the ICICI Head office in Mumbai. The letter basically stated that ICICI had no right doing what they were doing and it was nothing but a delaying tactic. We politely mentioned in the letter that they had exactly 8 days to revert before a legal notice is served hauling them to court.

The very next day I receive a call from their "legal Dept." telling me that they had reviewed my case and that they are now going to honour the claim and pay what they are supposed to. This is the same legal dept that first told me that they were repudiating my claim!

3 days later I receive the final cheque from ICICI Lombard for the complete settlement.

I have been trying to meet with the concerned people to, if nothing else, get an apology from them, but mysterisously they are always "in meetings" or out of town. The same people who had no issues being rude on the phone and basically telling me that "we'll see how you get your claim from us" are now too scared to sit face-to-face and talk.

I have been trying to get this published in some newspapers here, so that, if nothing else, otehr people would become aware of the business tactics of these private insurance companies.

I have been told clearly by people in the know, that this is a regular practice from private companies. You see, they have nothing to lose. Once they tell the customer that they are not honouring the claim, the customer can do either of the following:
1. Keep after them till they finally get so infuriated with the company that they just give up. this may be due to the lack of knowledge about their own rights as a customer or maybe just frustration of having to waste all that time.
Result for Ins. Company: they save a bundle as they don't pay the claim.

2. The customer sends the company a legal notice. the Ins Company then proceeds either to consumer court or the IRDA. Either way, it is atleast 6-8 months before a decision is made. That is 6-8 months longer that the company gets to hold on to the cash. Further, there is no garauntee about the outcome. If the customer wins, the Ins would end up paying what they owed anyways plus a bit more in penalties. However, if the customer loses, the Ins save a bundle again.
Result: Its a 50/50 gamble for the Ins company. Either way they hold onto the liquid for a longer period of time.

Luckily, in my case, they rolled over without having me having to take that last step. But in this day and age when you would think a consumer has some rights, it is a terrible jolt back to reality.

As someone somewhere once said: "Trust Nobody"

To conclude, I would like to emphasise that the decision from ICICI to reconsider my claim was the result of many things:-
- Firstly, this thread has reached places deep within ICICI. This is thanks to a lot of BHPians working in various companies and forwarding the link to their peers. Thanks guys, for the support and the help. It was this that pushed ICICI to put an end to my case.
- The WIAA, which was an immense help in this matter. It makes a difference when you have the backing of a large, respected body like the WIAA supporting your case.

Last edited by Rtech : 20th January 2006 at 14:17.
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Old 20th January 2006, 14:24   #116
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Hi! Rtech
congratulations in getting ICICI backtrack. keep it up
anyway what is WIAA?
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Old 20th January 2006, 14:28   #117
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Aha the taste of sweet victory....congradulations rtech...
One quick question, Did veyron2 have a hand in this matter?

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Old 20th January 2006, 14:30   #118
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WIAA - Western India Automobile Association
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Old 20th January 2006, 14:32   #119
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Originally Posted by rkg
Hi! Rtech
congratulations in getting ICICI backtrack. keep it up
anyway what is WIAA?
WIAA - if i am right, its Western India Automobile Association.

congrats rtech on getting the settlement. still you should go ahead and demand as to why they dint solicit your claim at the first place. who will compensate for the amount of time and energy you would have wasted doing all the ground work and the "mental agony" you would have undergone...if we are going to leave it here, again the same treatment will be meted out to others.

having gone this far, you should set a precedent and ensure that they dont take customers lightly.
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Old 20th January 2006, 14:47   #120
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Congrats Rtech for winning the battle .

p.s Seems so strange , we always congratulate our frenz/realives for buying new cars/homes or for many other various obvious reasons but here we are congratulatn rtech for getting his money back(which he should 've got the very next week after the accident) after such a long delay ... unfort ,thats how the life goes,here in india .. you just cant do anything except to fight for your own rights .

Last edited by Beemer : 20th January 2006 at 14:51.
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