Millions of people every year buy Insurance policies without understanding what they are buying as they are usually told just a few things to sell the product. Many times they are given half-truths. Then these people do not renew, and start hating insurance and insurance sellers. This is not sustainable for anyone. We believe everyone must fully understand what they are buying, and know both the positives and the negatives. They should know the options, and choose what is best for them and their needs. That way they are more likely to like the product & stick with it.
We believe Insurance is an amazing invention. It helps families in financial distress, during the times of death, disability, disease, and accidents. It usually costs a small fraction of the benefit the customers can get. In a country like India, one incidence like this in a family can push a family’s development back by a generation. It can destroy the future for a family. We hope no one ever faces such a situation, but the truth is millions of people suffer from such sad situations. Unlike European countries we have poor social security, thus increasing the need for insurance. The rich can still recover from the financial loss, but the poor need it much more as it can destroy them financially. This thought of doing a noble act, keeps us awake and alive.
Finally we believe companies must make a profit too, else how can they continue to service customers. Thus we are against customer side fraud. We like customers to make truthful declarations, and not try to cheat the system. The true value of an insurance policy lies in the payment of a claim, and we will fight the corner of a genuine customer very hard indeed, at the point of a genuine claim, and ensure he gets a fair deal from the insurance company.
All in all, we want Fair, Transparent & Sustainable insurance for everyone. Insurance has a huge role in supporting families in distress, and we will make it work for every participant, as we said, fairly, transparently, and sustainably.