“Be humble to see your mistakes, courageous to admit them, and wise enough to correct them.”
I had bought ICICI Pru Smart Kid Policy for my elder son. I was struggling to pay a lump sum yearly premium hence I asked for the premium payment frequency to be changed to monthly. ICICI Prudential Life Insurance accepted the request but did not collect my premiums due to an internal error.
I pursued the case with ICICI Prudential Life Insurance for three years. I spoke with executives in call center, met executives and managers in offices at Pune and Mumbai and emailed the details. Roughly, eight times I signed a new form and gave a new cancelled cheque. Every time I was assured of the collection next month and asked to maintain the balance in the bank.
Frustrated and with no options, I wrote an email to the leadership of ICICI Prudential Life Insurance.
An executive from ICICI Prudential Life Insurance called me. I narrated my incident once again, hoping this is the last time. After couple of calls he admitted and accepted the mistake by ICICI Prudential Life Insurance. He confirmed in an email it was an internal error and ICICI Prudential Life Insurance will rectify the mistake by allocating the differential units.
Finally, after three long years ICICI Prudential Life Insurance accepted the mistake. Next month I made the balance payment of last three years. I have won the battle, but the war was not over for next eleven years!
Broken Insurance Promises 