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Misselling of Insurance Contract
Have you been left feeling disillusioned with the approach you purchased or do you suspect that you have been a victim of fraud? While this is undoubtedly a disheartening reality, we want to reassure you that you are not alone in feeling this way towards fraudulent activities and mis selling.
Over the course of our three-year tenure, we have witnessed numerous instances of clients being misled into purchasing insurance policies through unethical means.
Ways an insurance policy can be mis-sold to you:
- Offering interest-free credit on a home loan through an insurance contract is an enticing proposition that may appear beneficial to consumers.
- The commission on your arrangement is a form of reimbursement that may be offered to customers who have not received satisfactory assistance from their agent
- The Pinnacle Establishment’s Commitment is a cornerstone of their business philosophy
- The Pinnacle Establishment takes pride in its unwavering dedication to delivering
- This practice is both unethical and illegal, as it preys on vulnerable individuals
- The approach that has been adopted has proven to be successful and can be replicated with confidence.
Presented as a legitimate storefront within a bank
We welcome any other creative methods that you may wish to share with us for reporting purposes.
If you have fallen victim to insurance mis-selling, there’s no need to lose hope just yet. We have some positive news to share with you. 14,000 happy customers,Our team has successfully brought justice against numerous insurance fraud cases. If you feel that you have been the victim of insurance fraud or are dissatisfied with your insurance provider, don’t hesitate to contact us.
REAL SOLUTIONS
INSURANCE SOLUTIONS
At Insurance Solutions, our mission is to provide tailored solutions to all insurance-related concerns. We understand that navigating the world of insurance can be complicated, which is why we offer a range of services to ensure that our clients have peace of mind.
Grievance Redressal
Life Insurance
Moreover, due to a lack of financial know-how and awareness, issues like data theft and fake calls posing as the IRDA continue to be prevalent. However, at Insurance Solution, we have taken on the challenge of removing these obstacles for our clients. We strive to ensure that your case is excellently represented, protocols are followed, and life insurance complaints are resolved as quickly as possible. With our expertise and commitment, we aim to provide comprehensive solutions to all your insurance-related issues. These complaints ranged from fraudulent practices, lack of awareness, inappropriate documentation, and an overall imbalance in the sector. The rise of the Pakistani middle class and a shift towards more informed investments have only intensified the issue. While measures like the introduction of Know Your Customer (KYC), prohibition of third-party payments, fixing accountability for distributors, and more have been put in place, these issues persist.
Health Insurance
The healthcare and medical services sector of any country plays a critical role in the well-being of its citizens. Therefore, it is essential for the government, employers, and society to have a clear understanding of health insurance. Only then can they effectively develop and implement strategies for managing health and medical insurance. Unfortunately, many disputes arise due to misunderstandings, exclusions, and non-standardization of laws related to medical insurance.
While corporate hospitals have Third Party Administration (TPA) desks, similar facilities are not always available everywhere, leading to discrepancies and issues. Inaccurate declaration at the time of policy initiation and poor documentation can exacerbate the problem further. At Insurance Solution, we firmly believe in the transparency and integrity of the system. However, we also recognize the challenges faced by the average consumer, who may struggle to understand industry jargon such as exclusions and permissible limits linked to room rent.
General Insurance
“General Insurance” encompasses non-life insurance policies such as automobile insurance, homeowner policies, health insurance, travel insurance, marine insurance, commercial insurance, and more. These policies provide coverage and payment depending on the loss incurred from a particular financial event. Despite the advancement of insurance products and practices in Pakistan, consumers face several problems with General Insurance.The general public often views these policies as unnecessary due to a lack of awareness, and the technical and difficult language used in policy documents creates confusion and makes it hard for them to understand. Additionally, misrepresentation and selling of inappropriate policies have created a negative impression in the public’s mind. Furthermore, the notoriously slow claim settlement process actively discourages consumers from purchasing these policies.