[chaitanyakrish]

Hello All,

I would like to share my experience on recent car insurance renewal process and many of you would've faced it as well.

My insurance is due for renewal on 27th July 2022 and I am getting spam calls from all insurance agents since 1 month, with renewal quotes and they have all my details

Not sure, data is getting shared at what level, either at dealer or insurance company agents, but its like a menace. I missed lot of important calls like gas delivery boy for example ( he called me twice and went away and I need to call him back urgently ).

I assumed every unknown number is an agent and started blocking them.

I prefer buying directly from insurance company portals and not from agents.

Any solution or blocking is the only option ?

Also, i have a query on the proposed IDV value by Royal Sundaram. My car's Ex-showroom price is 999000 and they're proposing IDV of 1020000.
Is it possible in general ?
Please share your views.

[Dry Ice]

Truecaller is an option.
https://www.team-bhp.com/forum/shift...sers-19-a.html (Truecaller identifies 29.7 billion spam calls, 8.5 billion spam SMS for Indian users in '19)

Although this thread highlights M&M dealerships, it is the same with others too https://www.team-bhp.com/forum/india...omer-data.html (Are Mahindra dealerships selling customer data?)

[deehunk]

Mahindra dealers are not alone in selling private data, recently Paytm had disabled my Fastag and profile when I was on the way to Hassan. I had to change my route because of this nuisance. They later aaked me to submit KYC documents to the nearest store, I just dumped them and bought another Fastag via e-KYC. The MO may be like forcing you to submit private details giving vague reasons. This happens almost everywhere.

[chaitanyakrish]

Most don't even feel, its a data privacy issue. That's the problem.

I keep PayTM account active just to ensure, nobody misuses my details; atleast their database should've a duplicate entry validation and send me an alert sms.

It may look paranoid, but with the level of misuse happening at various levels, we cannot make these mistakes.

[Mumbaiker]

More than a data leak, this is data being sold to the agents by either the insurance company or the dealers.
Use Truecaller or Google Phone to mitigate the problem of picking up spam calls.

[RaSing]

From my experience, this data gets leaked from the car service centers. I can say that as they noted wrong spellings for my name and from there onwards, I used to get calls with these wrong spelled names. The easiest way to stop these insurance agents from calling is to tell them that you have renewed your insurance. There is no way they can cross-check this until u tell them other details like which insurance, when, etc. The moment you tell them that you have got it done already, they are eager to drop the call even before you expect them too:-P. Also use the Truecaller app as suggested by other folks here.

[itsmeparvathy9]

Originally Posted by chaitanyakrish

Hello All,
Also, i have a query on the proposed IDV value by Royal Sundaram. My car's Ex-showroom price is 999000 and they're proposing IDV of 1020000.
Is it possible in general ?
Please share your views.

As your car's Ex-showroom price is 999000, there is absolutely no use in getting an insurance with IDV greater than the Ex-showroom price of your car. Moreso the IDV should reduce each year by the following amount:

Age of the car Percentage depreciation (for calculation of IDV)
Less than 6 months: 5%
More than 6 months but not exceeding 1 year: 15%
More than 1 year but not exceeding 2 years: 20%
More than 2 years but not exceeding 3 years: 30%
More than 3 years but not exceeding 4 years: 40%
More than 4 years but not exceeding 5 years: 50%

Moreover, if you want to get full invoice value of your car on total loss/theft take Invoice Cover and Zero Depreciation cover so that depreciation cost is not deducted while computing claim.

if it's ok with you, let me know the Model, Year of Registration the car, existing NCB and premium quoted by your insurance company, so that I can check if its inflated or not!

Hope it helps!

[chaitanyakrish]

Originally Posted by itsmeparvathy9

As your car's Ex-showroom price is 999000, there is absolutely no use in getting an insurance with IDV greater than the Ex-showroom price of your car.

It's clear now, when i picked up one of their call.

They get insurance expiry details from dealer and they start calling.
They have our vehicle registration number and car model.

They're lazy or smart not to disclose that, they know the ex-showroom price of the car and they propose a higher IDV value to grab our attention.

Once we share our previous policy details, they will reduce it accordingly.

To conclude, I purchased from their portal directly.

I am not so comfortable sharing previous policy document with agents. How do we ensure, they trash it, once the policy is issued ?

Thanks everyone

[_chikku]

Tata AIG has been calling me from last 1 month. I confronted them saying I will renew with them if they reveal how they got my number and then lady tells me that reliance general have shared it with them. My current insurance is with reliance. So they are all leaking customer contacts in between them. Sadly we cannot do anything.

[locusjag]

I had done a study of Insurance Aggregators in India, back in 2018, on the job. One thing that I starkly remember is that IRDA allows (or requires) the aggregators to share the customer leads data back to participating insurance companies on the aggregator's platform. The insurance companies are probably free to further share the customer leads with their licensed agents.

Now, this is the case with customer data sharing by insurance web aggregators. If we look carefully and widely enough, there's probably other modes of IRDA sanctioned customer data sharing as well.

It needs to be said that the IRDA exists to ensure better insurance penetration among the population - or, at least that is one of its core reasons to exist. Seen with this fact in light, all this data sharing will probably make sense to you.

[VALLABHA]

Originally Posted by chaitanyakrish

Also, i have a query on the proposed IDV value by Royal Sundaram. My car's Ex-showroom price is 999000 and they're proposing IDV of 1020000.
Is it possible in general ?
Please share your views.

Best approach is to renew your insurance directly on their portal. If you are renewing from the same provider, it's even more convenient as all the data is popped-up automatic. Just you have to input "voluntary excess" amount. Easy and transparent process. Some customers prefer to go through agent as they may find it easy to get assistance in case of claims.

[Gypsian]

The courts have gone to the extent of making Aadhar card not mandatory, confirming privacy as a fundamental right. If these companies share data its nothing but a crime, this issue has to be elevated to higher levels to make an impact and
to curb this unethical practice.
This can turn into a menace if not confronted. Whether you block or unblock their phone numbers, the bottom line is that your data has been shared without your consent.

[Ice]

Originally Posted by RaSing

From my experience, this data gets leaked from the car service centers. I can say that as they noted wrong spellings for my name and from there onwards, I used to get calls with these wrong spelled names..

Soooo true! My car is registered in our company’s name which is “XYZ & Son”. I get howlarious emails and calls addressing me as Mr. Son.

I just renewed my insurance, and my understanding is that one’s IDV is usually a range that goes from below to above one’s previously stated IDV. Anything over the upper limit of that range is useless because one can’t claim it. So it’s probably useful to find out that range from one’s current insurer. Again, this is my understanding.

[KadiNiSikhiya]

So which portal to opt for buying insurance online. I'll be taking the delivery of my new vehicle in August and I declined dealer offered insurance as it was way above what any provider was quoting on PolicyBazar. As it's going to be a new vehicle, is it even advisable in first place to get insurance from such portals?

[charanreddy]

I don’t expect privacy rated to phone numbers / personal details in India. Period. Reasons: Too many people make a living as tele callers , data handlers, low level dealer staff and in India you play loose with the rules. People are experts at jugaad and find innovative ways of earning a living. At any point in time our information will be on internet in multiple places: in fact I saw people selling contact lists on Craigslist some time back. I realised I will just be stressed if I take this to heart.

The only solace is that government has made it diffficut for fraudsters to cheat if one is reasonably aware. For example : OTP / 2 factor authentication is needed for all credit card / UPI transactions.


Ensuring Privacy in India is a fools errand.