LIC performs better in grievance redressal

LIC has scored better than private insurers in complaint resolutions in FY18.

According to the IRDAI Annual Report 2017-18, released earlier this month, LIC resolved 100 percent of the complaints while private insurers resolved 99.74 percent of reported complaints in FY18.

During 2017-18, the life insurance industry resolved 99.87 percent of the complaints handled. For the private sector, there were 201 pending complaints at the end of FY18.

Private life insurers resolved 99.74 percent of the complaints reported, while LIC resolved 100 percent of the complaints as a result of which there were no pending complaints of LIC at the end of FY18.