Insurance Angels Profile

1st August 2012

Loss of a spouse is considered one of life's most stressful experience. A widow, whose husband was an agent with ICICI Prudential was indeed a very cheerful person and the most productive for his organization. He brought many laurels to his manager. His manager enjoyed manifold promotions because of his good work. This lady's husband and her father-in-law passed away in an accident.

The lady got Rs.50 lacs as insurance amount from LIC. Nobody can go back and bring her family back to life but then this financial support is great enough to live life, even if it means to live alone. Life as a widow is tough And some people make it even more tough without realizing the sensitivities around. This is the time when they should be supported and not exploited.

Her husband's manager when he was an agent with ICICI Prudential came to meet this lady and convinced her to invest her 20 lacs in life insurance policy. Mr. Nitin, Founder Insurance Angels, was also working with the same company. The policy document reached his desk and he refused to underwrite this amount because he knew that the lady would not be able to pay. Even the sales head, like any other sales professional those who are hungry for business and that too at any cost, argued and tried to coerce him to underwrite the document as it is. The feeling of fighting against this kind of culture had seeped in Mr. Nitin by now and he decided to move on and left the organization. With due respect to the organization, not every person is bad but then most of the things needed attention and somebody had to start the "Journey-2-Change". The manager got the policy underwritten through some other operations manager and what would have happened thereafter is still a mystery. In a way, we all at Insurance Angels thank each one in this incident for helping us decide what we are today.

Today Insurance Angels is a bridge between the company and the customer. Bridge between OMBUDSMAN and the customer. Bridge between Consumer Court and the customer. We carry the values of helping our customers to any extent. When somebody, specially the bread earner, dies there is an immense amount of financial pressures. In such an incident each of us need to be very careful and not mislead people for your selfish and centric reasons to perform. Life is beyond these performances.

The customers whom these so-called professionals cheat or mislead do-not know whom to contact. We urge the common people to spread this happiness that there are a couple of people out there who can help in getting what they today need more than anything else, FINANCIAL SECURITY which their bread earning members bought for this purpose only. We understand the emotional loss and cannot fill the gap but definitely can support people in getting their finances in place.

We are strongly convinced of using the social media which can go viral by showing these videos or write ups to the whole world and specially to the one's who are running these organizations from the top. Just to tell them that we are not against the business of insurance, we strongly advise people on buying insurance for any such contingencies in life. Insurance is a MUST buy financial product. What we are against is the practises which so-called sales professionals have adopted to fill their pockets and promotions. We strongly detest and shall continue detesting for the years, forever.

Mr. Nitin Balchandani, Hard core operations management in insurance companies

Mr. Neeraj Kopai (An X-Max Life Insurance Agent)

Mr. Vikas Khandelwal is an advocate and associate for this noble cause

Ms. Nandini Vaidyanathan, she is a writer of the book entrepreneurship. Mentor to Insurance Angels.

Our first milestone, It's a story of two brothers Anil Bansal & Arun Bansal. Anil Bansal was an agent with Tata-AIG Life. In March 2011 the manager sales of the company approached Anil ji and convinced them, as a family, to invest in the policies by sharing the benefits it carried. Oh my God, he sold 40 different policies with an annual premium of Rs.20 lacs to them. What they were not conveyed about was the long term payments they will have to make in these policies. They felt cheated and approached consumer court. They even lodged a case on 420 on the manager, he was behind bars for a night but then the money was not coming back to the family. The whole thing went for more than a year And you know people lose faith when there is delay in justice. This is the time when they got introduced to Insurance Angels. Having a background of managing operations in the insurance sector, they could easily find out the forging of signatures, fought the case, highlighted it to the senior most people in the company and finally as they say, "Jeet Toh Hamesha Sachai Ki He Hoti Hai", Truth always wins. They got their money back. Our advise to these so-called sales professionals is to wake up and do what is good and in the benefit of the customer first. Don't try and please your bosses. Don't run after your own incentives. There is life even beyond these materialistic things. Someone back at home needs the financial support when the bread earner passes away. Let's make concious effort of helping people in their financial planning while they live and for an unforeseen incident.

Seniors are more prone to feelings of loneliness and loss than any other age group. Imagine a 70 year old father loses his son in an accident and there comes this so-called sales professional and loots him for his selfish reasons of incentives and promotions. As we say, it's a shame on mankind and shameless are those who conduct themselves like this. There was this case of accident insurance from ICICI Lombard as a benefit of having an account and the debit card from ICICI Bank.

Son gets promoted and is transferred to Haridwar and unfortunately meets with an accident. Father sends the claim but the company refuses to pay saying that the debit card the company had issued in the year 2012 was not used even once and this was the condition for getting the accidental death insurance. The card was initially issued to him in the year 2011 June. As any other tie-ups, ICICI Bank had tied up with MasterCard platform and this is when the company issued the second card and the condition along. The card was sent to his father's address and son was in Haridwar. This geographical challenge existed in the incident. The customer did not ask for it. This was an initiative taken by the company. So why should the customer and their family suffer. We fought for the cause and won it for the lonely father now.

Our appeal to all selling insurance is to please, please do-not work with a self-centred approach. All are your brother sisters and take care of them.

Mr. Nitin Balchandani being from the operations department in the insurance sector understands the underwriting part. When Insurance Angels started receiving such cases where there was injustice done with clients, he started forwarded and following up these cases with the concerned authorities in the various insurance companies. There was no response and the companies started writing back as "Out of 15 days free look period". Nitin ji was aware that in most of the cases signatures do-not match with those of the customer. But there was hardly any means and ways to prove the facts. There were a couple of people working in other cities who were signature and handwriting experts but then they were charging very high amount for this noble cause. Nitin ji decided to still move on, as he knew what he has taken as an assignment. It is beyond earning money. It is to do justice with what so-called sales professionals are playing with. He reached Delhi and pursued a diploma course from "Sherlock Institute Of Forensic Science" in handwriting and signature experts.

Today the company is a major advantage to all the advocates in the area 100 kms as "Handwriting & Signature Experts"

Geographical Reach?

Udaipur, Chittor, Bhilwara, Kota, Rajsamand, Banswara

Insurance Angels has helped two poor ladies

Vegetable vendor, 1 lac Watch Video..

Domestic help, 50000/- Watch Video..