Consumers Lodge $1.7M in Insurance Disputes
“We received a total of 216 complaints with a monetary value of approximately $1.7 million,” Ms Shandil said,
Saturday 05 April 2025 | 03:35
Fijian consumers lodged insurance complaints worth approximately $1.7million from 2019 to 2024, the Consumer Council of Fiji revealed on Tuesday.
Chief executive officer Seema Shandil revealed this while presenting to the Standing Committee on Economic Affairs regarding the Fiji Development Bank Insurance Annual Reports for 2021 and 2022.
“We received a total of 216 complaints with a monetary value of approximately $1.7 million,” Ms Shandil said,
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These figures represented “just the tip of the iceberg” as many affected consumers do not formally lodge complaints.
She said the council identified five major pain points in the insurance sector, with vehicle insurance generating the highest number of complaints.
Main points are persistent or recurring problem that frequently inconveniences or annoys customers.
“Whether it’s a car accident claim, a medical insurance claim, or even a life insurance payout, customers are waiting for too long,” Ms Shandil said.
She revealed LICI topped the list for complaints, particularly regarding claim denials and surrender value disputes, followed by New India Assurance and BSP Life Insurance.
Ms Shandil also raised concerns about documentation failures, which she described as the “most upset complaints”.
“Beneficiary payouts delayed because the insurer lost a particular document like a marriage certificate,” she said.
The council used to engage through the Complaints Management Forum, however that forum is now inactive.
“This forum was actually established to look into the similar issues that we have discussed or the trivial matters against financial institutions that are licensed by Reserve Bank of Fiji,” she said.
“Based on various meetings that we have attended, we have actually highlighted the issues through our submissions, through attending that meeting, but we have seen little progress that has been made.
“It’s really disappointing to see that forum has not actually achieved any meaningful outcomes.”
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