Grievance Redressal

To ensure that the Colour Funds Insurance Brooking company’s grievance redressal mechanism is more meaningful and effective,a system/process has been designed. Such system would ensure that the redressal provided is just and fair and is permissible within the given framework of the rules and regulations of IRDAI.
The process followed for addressing queries shall be:
Process 1. Customer can call us on +91 95664 95774 from Monday to Saturdays - 10:00 am to 6:00 pm.
Process 2. Email: Customer can email us on customersupport@colourfundsinsure.com
Process 3. Visit our Office: Customer can visit our head office to register a grievance or customer can also write to.
Principal Officer, Colour Funds Insurance Broking Pvt Ltd, No: 191, 1st Floor, Panimalar Complex, Indhu Nagar, Near MLA office, Perundurai Road,Palayapalayam, Erode, Tamil Nadu- 638011.

Escalation Matrix

If a client is not satisfied with the resolution provided through various channels, the client has the option to escalate the issues to a higher level, as per the escalation matrix given underneath
Level 1: In case the customer is not satisfied with the decision or has not received any response within 14 working days, he/she may escalate the matter at grievance@colourfundsinsure.com.
Level 2:If still not satisfied after level 1, please escalate the matter to the Principal Officer Mr. S Sudhakar at PO@colourfundsinsure.com.
Level 3: If after having followed Level 1 and Level 2 your issue remains unsolved, you may approach The Insurance Regulatory Development Authority of India (IRDAI) at https://bimabharosa.irdai.gov.in or Ombudsman at https://cioins.co.in/Complaint/Online respectively, The maximum limit for the amount under dispute for which the Ombudsman can entertain a complaint is upto Rs. 30 lakhs.

The grievance will be acknowledged within 2 working days of its receipt. The company shall exercise all efforts to address it, including intimation to the respective Insurance company for a quick redressal. If the decision/resolution provided is not acceptable, please approach the Principal Officer of the Company at po@colourfundsinsure.com. If the decision/resolution provided by the Principal Officer is not acceptable, the grievance may be further escalated as per the process specified by Insurance Regulatory Development Authority of India (IRDAI)

Cell for redressal of grievances of Policyholders
The Grievance Redressal Cell in the Policyholder's Protection & Grievance Redressal Department of the Insurance Regulatory and Development Authority of India looks into complaints/grievances from policyholders. This Cell takes up the grievances with the respective insurers for redressal.
Only complaints from the insured or the claimants shall be entertained. The Cell shall not entertain complaints written on behalf of policy holders by advocates or agents or by any third parties.
Complainants are requested to submit complete details of the complaint as required in the complaint registration form put on the IRDAI website – policyholder.gov.in http://www.policyholder.gov.in/Report.aspx# Click here to download the Complaint Registration Form. Without the required information called for in the Complaint Registration Form, IRDAI will not be in a position to register the complaint.
Cell for redressal of grievances of Policyholders
1. Can make use of the Bima Bharosa system - IRDAI Portal at https://bimabharosa.irdai.gov.in/ for registering the complaints themselves and to monitor the status of the complaints.
2. Can send the complaint through Email to complaints@irdai.gov.in. or call Toll Free No. 155255 or 1800 4254 732.
3.Apart from the above options, if it is felt necessary by the complainant to send the communication in physical form, the same may be sent to IRDAI addressed to:
General Manager
Insurance Regulatory and Development Authority of India(IRDAI)
Policyholder's protection & Grievance Redressal Department – Grievance Redressal Cell.
Sy.No.115/1, Financial District, Nanakramguda,
Gachibowli, Hyderabad – 500 032.

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Contact

Contact Us

Address

No: 191, 1st Floor, Panimalar Complex,
Indhu Nagar, Near MLA office,
Perundurai Road,Palayapalayam,
Erode, Tamil Nadu- 638011

Call Us

+91 95664 95774

Email Us

contact@colourfundsinsure.com
customersupport@colourfundsinsure.com

Open Hours

Monday - Saturday
9:30AM - 06:30PM

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F.A.Q

Frequently Asked Questions

An insurance policy protects you against financial losses. As such, the policy becomes necessary. If you have a car or a bike, buying a motor insurance policy is mandatory as per law. Even in case of life insurance, the security given by a life insurance policy is unparalleled which makes the policy a must buy. When it comes to health insurance, one cannot ignore the high medical costs which are associated with a health ailment. Having a health insurance policy, therefore, makes sense to protect against the financial implication of any medical emergency.

IRDA stands for the Insurance Regulatory and development Authority. It is the apex regulatory body of insurance in India. All insurance companies have to comply with the rules prescribed by the IRDA for selling their insurance policies.

There are a lot of insurance policies available in the market each of which satisfy similar needs and yet have different coverage benefits and premium rates. The best insurance policy which provides the best coverage features at the lowest premium rates can be found only when the different plans are compared with each other. That is why comparing is necessary before buying insurance policies.

Insurance policies can be purchased online after comparing the different policies and then choosing the best one. After the policy is chosen you need to fill an online proposal form, submit the required documents and pay the premium online and the policy is issued.

The coverage level of your insurance policies should be optimum to cover the financial loss which is insured by the policy. In life and health insurance plans, the coverage level should be chosen based on the lifestyle expenses of the insured, the family size, age, income, etc. In case of car and bike insurance policies, the coverage depends on the value of the car and bike.

Life insurance plans cover the risk of dying too early. Health insurance plans, on the other hand, cover the risk of medical contingencies. While life insurance plans pay a benefit in case of death or maturity, health insurance plans pay a benefit if the insured suffers a medical contingency which is covered by the plan.