Legal and Admin Policies
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- Legal and Admin Policies
Zoom Insurance Brokers Pvt. Ltd. (BimaBuy) understands the importance of maintaining every user’s privacy. While operating our portal we very well recognise the significance of the information/data that you might share which can be confidential in nature. Thus, Bima Buy is committed to protecting your privacy & maintaining the integrity, confidentiality and security of their information/data. This commitment reflects the value we place on earning and keeping the trust of our customers, business partners, and others who share their personal information with us.
Hence, it has in place the Privacy Policy which protects the personal information that it collects from its users.
This Privacy Policy describes how BimaBuy collects and handles certain information it may collect and/or receive from you via the use of this Website or the mobile application. This Privacy Policy is published in compliance of: the Information Technology Act, 2000; and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Information) Rules, 2011 (the "SPI Rules").
This Privacy Policy applies to current and former visitors to our Website and to our online customers. By visiting and/or using our website, you agree to this Privacy Policy.
This policy (hereinafter referred to as the "Privacy Policy") is to inform you regarding the collection and use of your Personal Information by Zoom Insurance Brokers Pvt. Ltd., which is collected during your visit to our website www.bimabuy.in (hereinafter referred to as the "Website"). For the purpose of these Privacy Policy, wherever the context so requires, "you" "your" or "user", shall mean any natural or legal person who has agreed to visit and access the Website anonymously or agreed to provide his/her personal information by registering on the Website. The terms, "we", "us", "our", appearing in this Privacy Policy shall mean and refer to Zoom Insurance Brokers Pvt. Ltd. and owners and proprietors of the Trademark Bimabuy.in and domain name Bimabuy.in. This Statement does not apply to your use of a third-party site linked to on this website.
Collection of data
– Personal Identification Information
Our team may collect personal identification information from users in ways including but not limited to visiting the website, registering, transacting, filling out a form on our website/mobile application respectively and in connection with other activities, services, features, or resources which we make available on our website/mobile application. Users may be asked for credible information such as name, email address, mailing address, phone number etc. You may, however, visit our website/mobile application anonymously. We will collect personal identification information from you only if you voluntarily submit such information to us. You can always refuse to provide personal identification information, which may keep you from engaging in certain website/mobile application-related activities.
– Non-Personal Identification Information
Our team may collect non-personal identification information of users whenever they interact with our website/mobile application. Non-personal identification information may include the browser name, the type of computer, IP Address and some other technical information about your means of connection to our website/mobile application, such as the operating system, the Internet service providers utilized, and other similar information.
How do we collect the information
Our services and products include insurance broking, claims management, risk management consulting, other forms of insurance services (including underwriting of insurance products and reinsurance), employee benefits program administration, and investment advisory services & when we perform services for our clients, your personal information will normally be provided to us by our clients (or advisors or service providers acting on behalf of our clients), or sometimes our clients may ask us to contact you directly. We may also need to obtain information from third parties such as insurance companies, insurance brokers or agents, credit organizations, motor vehicle and driver licensing authorities, financial institutions, medical professionals and publicly available sources.
- When you attend any of our event or webinar. You may provide some information directly, or it may be provided by your employer or colleagues.
- When you fill a form at the website/mobile application
- When you register on the website/application
- When you make any transaction, subscribe to the newsletters
- If you contact us with a complaint or query.
- When you engage with us over social media.
Controllers of Personal Information
Your personal data will be stored and collected by Zoom Insurance Brokers Private Limited.
Use of collected personal information
We may use the personal information that is collected from you to provide requested products and services and for our internal business purposes, including, but not limited to:
- Responding to queries and request submitted by you
- Facilitating orders or applications submitted by you
- Processing your transactions & to provide you with transaction & post transaction services.
- To carry out any obligation in relation to any agreement that you may have with us
- Sending you information about special offers & promotions of the products through email, postal mail, courier or telephone.
- Maintaining & managing your account with us.
- Send notices & communications relevant to you use of the services
- Carrying our “Know your client” checks prior to starting a new engagement
Log Files
Like most standard websites, we use log files. This information may include internet protocol (IP) addresses, browser type, internet service provider (ISP), referring/exit pages, platform type, date/time stamp, and number of clicks to analyze trends, administer the site, track user's movement in the aggregate, and gather broad demographic information for aggregate use. We may combine this automatically collected log information with other information we collect about you. We do this to improve services we offer to you, to improve marketing, analytics or site functionality.
Information sharing & disclosure
Upon registration on our Website, your Personal Information is encrypted and stored on servers. The Storage Servers are under complete control of Zoom Insurance and its authorized representatives.
BimaBuy may share your Information submitted on the Website to any third party/service provider/business partner without obtaining your prior consent in the following limited circumstances:
1. When it is requested or required by law or by any court or governmental agency or authority to disclose, for the purpose of verification of identity, or for the prevention, detection, investigation including cyber incidents, or for prosecution and punishment of offences. These disclosures are made in good faith and belief that such disclosure is reasonably necessary for enforcing these Terms and Conditions; for complying with the applicable laws and regulations.
2. BimaBuy proposes to share such information with its employees for the purpose of processing personal information on its behalf. We also ensure that these recipients of such information agree to process such information based on our instructions and in compliance with this Privacy Policy and any other appropriate confidentiality and security measures.
3. BimaBuy may use third-party advertising companies to serve ads when the user visits the Website. These companies may use personal information about the user’s visit to the Website and other websites in order to provide advertisements about goods and services of interest to the user.
4. BimaBuy shall transfer information about you in case BimaBuy is acquired by or merged with another company.
5. The collected Personal Information may be shared to selected third parties, such as the insurance companies, our affiliates, and business partners, after seeking appropriate consent from you at the time of collecting the Personal Information from you. The third parties with whom we will share your Personal Information will not use your Personal Information for any purposes other than for what we have agreed with them. Additionally, all third parties with whom we may share your Personal Information, are also required to maintain the minimum levels of security and protection.
6. We might also share your Personal Information with insurance providers ("Insurance Companies") for the purpose of facilitating the issuance and service of your insurance policies. The Insurance Companies may ask for some additional information such as your bank details and other financial information ("Additional Information") before issuing a policy to you. We will inform you if we are collecting this Additional Information from you on behalf of the Insurance Companies. The Additional Information collected by us on behalf of the Insurance Companies will be exclusively under the control and protection of the Insurance Companies and we will not be responsible for the storage and protection of such Additional Information. Therefore, before submitting any such Additional Information to us or the Insurance Company directly, we recommend that you enquire with the respective Insurance Companies to understand their privacy policy and practices.
We will keep your Personal Information only for as long as is necessary for the purpose of providing you with the services mentioned hereinabove.
Email- Opt out
If you are no longer interested in receiving e-mail announcements and other marketing information from us, we have a provision of unsubscribing from our mailing lists. Please note, we might take some time to process your request.
Collecting Cookies
A cookie is a piece of data stored on the user's computer tied to information about the user. We may use both session ID cookies and persistent cookies. For session ID cookies, once you close your browser or log out, the cookie terminates and is erased. A persistent cookie is a small text file stored on your computer’s hard drive for an extended period of time. Session ID cookies may be used by PRP to track user preferences while the user is visiting the website. They also help to minimize load times and save on server processing. Persistent cookies may be used by PRP to store whether, for example, you want your password remembered or not, and other information. Cookies used on the PRP website do not contain personally identifiable information.
Links to Other Websites
There might be affiliates or other sites linked to www.bimabuy.in. Personal information that you provide to those sites are not our property. These affiliated sites may have different privacy practices and we encourage you to read their privacy policies of these website when you visit them.
Acceptance of the Privacy Policy
By using either the mobile or the web version of the Bimabuy.in, you accept the terms of this Privacy Policy. If you do not agree with the terms mentioned above, we request you to not use this website/portal/mobile application. Your continued use of the website/mobile application following the posting of changes to this privacy policy terms will be deemed your acceptance of the changes made.
Changes to our Privacy Policy
From time to time, we may make changes to this Privacy Policy at our sole discretion. In the process, if we make any substantial changes in the manner in which we utilize, store or share your personal information, we will inform you by posting such changes here on this Privacy Policy page. Please check our Privacy Policy on a regular basis.

Zoom Insurance Brokers Pvt. Ltd.(“Zoom”) operates the website https://www.bimabuy.in (the “site”) to provide consumers a seamless way to choose and buy Insurance products from multiple Insurance companies. Zoom is not an insurance company. Zoom is a licensed Insurance Broking Company holding a Broking licence from the Indian Insurance Regulator - Insurance Regulatory and Development Authority of India.
The trade logo “Bima Buy” and the URL www.bimabuy.in is owned by Zoom Insurance Brokers Pvt. Ltd.(trade mark owner) and the same is used here. The services provided by the site are subject to the following conditions. Before you may use the site, you must read and accept all of the terms and conditions in, and linked to, this Terms of Use.
Terms & conditions acceptance
Please read these Terms and Conditions (hereafter referred to as “Terms of use”) carefully. Your Acceptance of the Terms of Use contained herein constitutes the Agreement for the Purpose as defined hereunder.
By visiting our site and accessing the information, resources, services, products, and tools we provide, you have confirmed that you have read, understand and agree to accept and adhere to the following terms of use, along with the terms and conditions as stated in our Privacy Policy (please refer to the Privacy Policy section for more information).
This Agreement describes the terms governing the usage of the facilities provided to you on the site. Clicking "I Agree" to "Terms & Conditions", shall be considered as your electronic acceptance of this Agreement under Information Technology Act, 2000 (as amended from time to time). Your continued usage of the facilities from time to time would also constitute acceptance of the Terms of Use including any updation or modification thereof and you would be bound by this Agreement until this Agreement is terminated as per provisions defined herein.
Your electronic consent, accepting these Terms of Use, represents that you have the capacity to be bound by it, or if you are acting on behalf of any person, that you have the authority to bind such person.
Responsible use and conduct
By visiting our website and accessing the information, resources, services, products, and tools we provide for you, either directly or indirectly (hereafter referred to as 'Resources'), you agree to use these Resources only for the purposes intended as permitted by (a) the terms of use, and (b) applicable laws, regulations and generally accepted online practices or guidelines. Wherein, you understand that:
- You may be required to provide certain information about yourself (such as identification, contact details, etc.) as part of the registration process, or as part of your ability to use the Resources. You agree that any information you provide will always be accurate, correct, and up to date.
- You are responsible for maintaining the confidentiality of any login information associated with any account you use to access our Resources. Accordingly, you are responsible for all activities that occur under your account/s.
- We strongly prohibit the accessing (or attempting to access) any of our Resources by any means other than through the means we provide. You specifically agree not to access (or attempt to access) any of our Resources through any automated, unethical or unconventional means.
- Involving in any activity that disrupts or interferes with our Resources, including the servers and/or networks to which our Resources are located or connected, is strictly prohibited.
- Attempting to copy, duplicate, reproduce, sell, trade, or resell our Resources is strictly prohibited.
- You are solely responsible for any consequences, losses, or damages that we may directly or indirectly incur or suffer due to any unauthorized activities conducted by you, as explained above, and may incur criminal or civil liability.
- We may provide various open communication tools on our website or linked social media accounts, such as blog comments, blog posts, public chat, forums, message boards, newsgroups, product ratings and reviews. You understand that generally we do not monitor the content posted by users of these various tools, which means that it your personal responsibility to use these tools in a responsible & ethical manner. You also agree that you will not upload, post, share, or otherwise distribute any content that:
- Is illegal, threatening, defamatory, abusive, harassing, degrading, intimidating, fraudulent, deceptive, invasive, racist, or contains any type of suggestive, inappropriate, or explicit language;
- Infringes on any trademark, patent, trade secret, copyright, or other proprietary right of any party;
- Impersonates any person or entity, including any https://www.bimabuy.in employees or representatives.
- Contains any type of unauthorized or unsolicited advertising;
- We have the right at our sole discretion to remove any content that, we feel in our judgment does not comply with these terms of use, along with any content that we feel is otherwise inaccurate, or violates any 3rd party copyrights or trademarks. We are not responsible for any delay or failure in removing such content. If you post content that we choose to remove, you hereby consent to such removal, and consent to waive any claim against us.
- We do not hold any liability for any content posted by you or any other 3rd party users of our website. However, any content that doesn’t violate or infringe any 3rd party copyrights or trademarks posted by you using any open communication tools on our website, becomes the property of Zoom, and as such, gives us a perpetual, irrevocable, worldwide, royalty-free, exclusive license to reproduce, modify, adapt, translate, publish, publicly display and/or distribute as we see fit. This only refers and applies to content posted via open communication tools as described, and does not refer to information that is provided as part of the registration process, necessary in order to use our Resources. All information provided as part of our registration process is covered by our privacy policy.
Privacy
Your privacy is very important to us, which is why we've created a separate Privacy Policy in order to explain in detail how we collect, manage, process, secure, and store your private information. Our privacy policy is included under the scope of these terms of use.
Indemnity
You hereby agree to indemnify, defend and hold bimabuy.in and its directors, officers, POSP, owners, employees, information providers, licensors and licensees (collectively, the “Indemnified Parties”), affiliates harmless from and against any and all liability and costs incurred by the Indemnified Parties in connection with any claim arising out of any breach of the Agreement or the foregoing representations, warranties and covenants, without limitation, attorneys’ fees and costs. You shall cooperate in complete absolute manner when required in the defense of any claim. We reserve the right to take over the exclusive defense of any claim for which we are entitled to indemnification under these terms of use. In such event, you shall provide us with such cooperation as is reasonably requested by us.
Promotional Offers
From time to time, you may receive announcement about new products and offers with intent to promote this site and/or facilities/products of listed insurance companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.
Electronic Communications
You agree to receive any notices or other communications about the products from the site in electric form. Electronic communications may be posted on the site and/or delivered to your registered email address, mobile phones etc either by listed insurance companies or by Zoom with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the insurance companies or Zoom shall have the right to terminate the facilities.
Limitation of warranties
Although all efforts are made to ensure that information and content provided as part of this site is correct at the time of inclusion on the site, however there is no guarantee to the accuracy of the Information. This site makes no representations or warranties as to the fairness, completeness or accuracy of Information. There is no commitment to update or correct any information that appears on the Internet or on this site.
By using this site, you understand and agree that all resources we provide are "as is" and "as available". This means that we do not represent or warrant to you that:
- The use of our resources will meet your needs or requirements
- The use of our resources will be timely, uninterrupted, secure, or free from errors
- The information obtained by using our resources will be reliable or accurate
- Any defects in the operation or functionality of any resources we provide will be repaired or corrected
Limitation of liabilities
In conjunction with the Limitation of Warranties as explained above, you expressly understand and agree that this site is provided to you on an "as is" and "where-is" basis, without any warranty. Zoom will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site or as a result of any changes, data loss or corruption, cancellation, loss of access, or downtime to the full extent that applicable limitation of liability laws apply.
Further, Zoom and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this site.
Copyrights and trademarks
All content and material available on https://www.bimabuy.in, including but not limited to the trademarks, logos, text, graphics, website name, code, images and service marks ("Marks") displayed on the Site are the intellectual property of Zoom and are protected by applicable copyright and trademark law. You are prohibited from using any Marks of this site for any purpose including, but not limited to use as metatags on other pages or sites on the World Wide Web without the written permission of Zoom or such third party which may own the Marks. You are prohibited from modifying, copying, distributing, transmitting, displaying, publishing, selling, licensing, creating derivative works or using any Content available on or through the Site for commercial or public purposes unless specifically authorized by Zoom.
Termination of use
You agree that we may, at our sole discretion, suspend or terminate your access to all or part of our website and Resources with or without notice and for any reason, including, without limitation, breach of this Terms of Use. Any suspected illegal, fraudulent or abusive activity may be grounds for terminating your relationship and may be referred to appropriate law enforcement authorities. Upon suspension or termination, your right to use the Resources we provide will immediately cease, and we reserve the right to remove or delete any information that you may have on file with us, including any account or login information.
Exclusive Agreement
You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and insurance companies and its Third-Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the site and/or the processor bank..
Use of cookies
You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.
Modification in these terms of use
We reserve all the rights, at any time, at our sole discretion, to change or otherwise modify the Terms of Use without any prior notice, and your continued access or use of this Site signifies your acceptance of the updated or modified Terms of Use.
Governing Law
This site is controlled by Zoom from our office located in Gurugram, and we specifically prohibit you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use, although, this site can be accessed in most countries around the world.
As each country has laws that may differ from those of Gurugram, by accessing our site, you agree that the statutes and laws of Haryana without regard to the conflict of laws and the United Nations Convention on the International Sales of Goods, will apply to all matters relating to the use of this website and the purchase of any products or services through this site. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Gurugram having exclusive jurisdiction.
These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms of Use or any dispute arising in relation to the site whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Gurugram, India for the resolution of all such disputes.
Guarantee
Unless otherwise expressed, Zoom expressly disclaims all warranties and conditions of any kind, whether expressed or implied, including, but not limited to the implied warranties and conditions of merchantability, fitness for a particular purpose, and non-infringement.
Zoom Insurance Brokers Pvt. Ltd. is a licensed insurance broking company registered with the Insurance Regulatory and Development Authority of India (Code: 389).
With the intention of providing accurate information about insurance products & services, we offer data that are not only unbiased but authentic too. However, we are not responsible for any kind of incongruity.
There is no intention or purpose of violating any intellectual property or ancillary rights. All information provided on the website www.bimabuy.in (‘Bimabuy’) is subject to its discretion and is likely to change without any prior notification. Although, we make no delay to communicate any changes in matters of public value and efficacy.
We have taken every possible step to sustain standards in clarity, intelligibility, excellence as well as the correctness of the materials that are being published on our website. However, Bima-Buy is not lawfully responsible for all such things being mentioned there. It is to be noted that all the employees, partners, and allied staffs who are associated with Bima-Buy are also not liable for any kind of failure, loss, impairment or any kind of damages that might occur due to the use of information from our website. In such cases, customers are given the advice to apply their own wisdom and prudence in order to know the shortcomings of the insurance policies and the risks involved. Bima Buy is not accountable for any such issues.
The Frequently Asked Questions (FAQs) sections are intended for increasing general awareness about the subject matters of insurance and cannot be treated as a legal opinion concerning any policy or a particular circumstance. For any individual case, it is always the terms and conditions of their Policy, and those stated in the Schedule which have an overriding and binding effect. Insurance matters are subject to applicable law/rules/regulation including instructions and circulars issued by IRDAI from time to time.
It is important to understand that insurance is a subject matter of solicitation and market risks. It is the responsibility of the customer to understand the limitations of insurance policies and the risks involved, and under no circumstance, form or manner, do we take any liability in such cases. We also recommend you to please read the subject and offer documents carefully. The information provided on the portal is for financial and insurance purposes. All the visitors of www.bimabuy.in must take note of the fact that the website owner are not the agents or intermediaries of the insurance providers whose products are dealt with on this website. Although honest venture is taken to create accurate comparison of product policies, and other things like features, quotes and many more on the basis of the information being given by the providers or insurers or its agents, it is being clear that Bima Buy is not answerable for any client for investment decision, and everyone should be only bearing the brunt of the outcome of his/her decision.
Once you take our services, you agree and give your confirmation that you shall be solely responsible for the authenticity of the document uploaded here. We are only acting as a facilitator. The claim acceptance or rejection is the sole discretion of the insurer company. For more details on risk factors and Terms and Conditions, we request you to read the sales brochure of the particular plan carefully before concluding a purchase.
Every insurance broker in India is required to comply with Schedule II (pre-sales solicitation) & Schedule III (post-sales solicitation) of insurance e-commerce guidelines. The following are the procedures, processes, and timelines.
Procedures, processes and timelines for Pre-sales solicitation
Filling up of basic details to generate E-Quote on the Digital Platform:
Filling up of basic details to generate E-Quote on the Digital Platform:
The E-Quote for a customer is generated on Bima Buy App/web depending upon the Insurance type/ Insurance product selected. The customer needs to fill up the basic details like DOB, Gender, Smoker/non-smoker, Cover Amount, personal details – Name, mobile, email ID, car/vehicle details, coverage required at claim stage etc.
Plan selection & redirection to Product page:
Upon E-Quote generation customer can check the Quotes from various insurance companies for the product selected (there are various products such as motor/health/life etc) and can select any insurance company’s plan that the customer wishes to purchase, he will then be redirected to product page for that insurer.
Filling up the Proposal/Application form:
Underwriting of insurance proposal is done basis the disclosures by the proposer in the proposal form, hence it is mandatory to verify the details filled in the proposal form and authenticate them through OTP (One-time password) authentication. On completion of proposal form filling and payment, a copy of proposal form in PDF along with payment acknowledgment will be sent to the customer’s registered E-mail ID. The proposal form has various sections which the proposer/customer(s) is required to fill. It includes details depending upon the Insurance type (Motor/ Health/Life etc.)
- Personal details – This section contains details like name, contact details, place of birth, Email, education, nationality, address etc.
- Employment details – This section contains details regarding employment like salaried / self-employed, income
- Health details– This section contains details w.r.t BMI, medical disclosure on any previous investigations, diagnosis or treatment, if any
- Nominee details – This section contains details on nomination like name, DOB, relation, marital status
- KYC details – Occupation category, Parents details, DOB etc.
- Motor Insurance details/ Previous Insurance details /Coverage etc.
- Travel Details etc
**Note – Information to be submitted would vary depending on the Insurance type selected by the Customer.
AML / KYC:
Address Proof, Identity Proof, Age Proof /Income Proof as per the underwriting requirements of the Insurer should be submitted with the respective Insurer - For more details connect with your respective Insurer. Timelines from Pre-Post Sales Services are governed by IRDAI (Policyholder Protections Interest) Regulations, 2017. For more details contact your respective Insurer.
S.No | Services | TAT |
---|---|---|
1 | Refund in case of failed Transaction | Refund will be processed by the Insurers’ Payment Gateway on failure of transaction and will reflect in your account as per your provider’s policy – TAT will be between 2 hours – 7 Days depending on the provider |
2 | Refund in case of Cancellation of Policy by the Insurer | Respective Insurer – TAT as defined in IRDA regulations |
3 | Decision on Proposal (Respective Insurer) | 15 days from the date of receipt or any requirements called by the Insurer |
4 | Policy Document Post issuance | 3-7 days (Depending on Insurer) |
5 | Acknowledgement of Grievance | 24 Hours |
6 | Grievance Redressal | Upto 30 days (This has dependency on Insurer processes |
Procedures, processes and timelines for post-Sales Solicitation
LIFE INSURANCE:
Organising medical check-ups and submission of medical reports:
A date and time are to be selected to schedule a medical test. It can be done at the customer’s residence or s/he may be required to visit the insurer’s regular diagnostic centre. This information is available on the medical page or will be informed to a customer accordingly. Policy underwriting and policy issuance is made by the insurer. After issuance, a policy pack will be sent to the customer’s communication address by the insurer. A soft copy will be sent to a customer’s email ID by the Insurer. For more details connect with your respective Insurer.
The Turnaround Time: As specified by the insurer and as governed by IRDA regulations1. Issuance of Endorsement
An endorsement is issued to the policyholder whenever any contractual changes (permitted by the plan/policy) are requested by the policyholder, accepted by the Insurer and made in the policy. The customer can contact us at [email protected] The Turnaround Time: Varies from Insurer to Insurer might take 3 Days to 2 Weeks.
2. Change of Policy Terms and Conditions / Change in Details
Correction of Date of birth:Change of DOB request means a change or correction in the Date of Birth of the policyholder, life insured or nominee/trustee. Customer needs to fill & submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the insured
- Proof of date of birth
- Additional Premium (wherever applicable due to change of DOB)
- Revised Illustration duly signed (wherever applicable due to change of DOB)
As per policy contract, policyholder may nominate any other person, to whom the money secured under the policy shall be paid in the event of death of the policyholder. If in case, a customer wants to place a request for change of nominee he / she need to submit below mentioned documents:
- Duly signed letter or email from registered email id by the policyholder, mentioning new nominee name, DOB & Relation with insured along with the supporting documents.
- If the nominee is a minor, then Email from registered email id or Request letter duly signed by the policyholder, mentioning appointee name, DOB & Relation with nominee along with the supporting documents.
All the requests are forwarded to insurance company and insurer does the needful. Insurer informs the customer and us. For more details connect with your respective Insurer.
The Turnaround Time: Varies from Insurer to Insurer might take 3 Days to 2 Weeks.
3. Collection of renewal premiums and remittance to insurers
- Select the insurer for which you wish to pay the renewal premium.
- Input policy number for which premium is due.
- Enter DOB of the life insured.
- Pay amount due on the Payment Gateway through internet banking, debit card, credit card
- Receipt for renewal payment will be sent to registered Email Id.
For more details connect with your respective Insurer.
You can connect with us at [email protected]
4. Change of Name / Address
Change of name:In case of change of name, a policyholder needs to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder.
- A valid name change proof (on which customer’s DOB should match with our records)
- Name Change affidavit (as per state value) in case of after marriage name change and religion change.
- Email from register email id or Request letter duly signed by the policyholder.
- Valid address Proof of new address.
For more details connect with your respective Insurer. The Turnaround Time: Varies from Insurer to Insurer might take 3 Days to 2 Weeks.
5. Registration of Assignment / Nomination / Change of Nomination
For Assignment:As per policy contract, policyholder may nominate any other person, to whom the money secured under the policy shall be paid in the event of death of the policyholder. The assignment is done in the policies when nominee is below 18 years of age or minor. The assignee details like Name, DOB and relation between nominee & assignee is required.
For nomination:As per policy contract, policyholder may nominate any other person, to whom the money secured under the policy shall be paid in the event of death of the policyholder. The nominee details like Name, DOB and relation between insured & nominee is required.
For change of nomination:As per policy contract, policyholder may nominate any other person, to whom the money secured under the policy shall be paid in the event of death of the policyholder. If in case, a customer wants to place a request for change of nominee he / she needs to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder, mentioning new nominee name, DOB & Relation with insured along with the supporting documents.
- In case nominee is a minor then Email from register email id or Request letter duly signed by the policyholder, mentioning appointee name, DOB & Relation with nominee along with the supporting documents.
For more details connect with your respective Insurer.
The Turnaround Time: Varies from Insurer to Insurer might take 3 Days to 2 Weeks.
6. Surrender, Maturity, Withdrawals, Free look Cancellations, Return Benefit Payouts
The Sum Assured is normally payable to the beneficiary in the event of demise of the Life Assured/Insured during the term as per the policy conditions. Details on the death/ or Coverage Benefit (in case of other Insurance Products) benefits are mentioned on your respective policy document. Policyholder can contact us on [email protected]
For more details connect with your respective Insurer.
7. Loan Against Policy
Loan against policy does not happen in term insurance. For more details connect with your respective Insurer.
8. Fund Switching / Premium Redirection
Fund switching / Premium Redirection does not happen in term insurance. For more details connect with your respective Insurer.
9. Declarations Update
In most of the cases the life insurance proposal forms require the person taking the policy to declare the existing life insurance policies due to financial underwriting. Insurers want to ensure that the aggregate sum assured of an individual is not out proportion with his /her annual income. Financial underwriting is more important in case of term insurance than in case of endowment or ULIP policies. The declaration can be made while taking the policy.
10. Extension of Cover
In term insurance the insured can choose the extension of cover option. This option can be taken by the insured in the plan when he/she is single or before marriage. For more details connect with your respective Insurer.
11. Revival/ Cancellation of Policy
Revival:A life insurance policy moves into non-In-force status if the premium is not collected by the end of grace period. A policyholder can revive the policy by paying the outstanding premium(s) (inclusive of taxes and levies, interest and revival fee as applicable). The policy will become In-force once all the requirements raised as per the terms and conditions of the policy are fulfilled.
Cancellation:In case Policyholder are not agreeable to the any policy terms and conditions of the Insurance policy, you have the option of returning the policy to the respective Insurer stating the reasons thereof, within 30 days from the date of receipt of the policy. On receipt of your letter along with the original policy documents, Insurer shall arrange to refund you the premium, subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by them on medical examination if any and stamp duty.
For more details connect with your respective Insurer.
12. Transfer of Policy
In term insurance no transfer of policy happens. For more details connect with your respective Insurer.
13. Duplicate Policy
Customer can contact us via email at [email protected] or visit the branch of insurer.
14. Death / Maturity Claims
To raise a claim request the policy holder can call the insurer at their customer service number or they can reach out to us on [email protected]for claims assistance. Our claim settlement team will connect you to the insurer. The claim is settled and paid by the insurance company directly to the customer’s account. If the customer does not receive the satisfactory service or have any other escalations, he/she can use the same e-mail id and phone no. to get the concerns resolved.
For more details connect with your respective Insurer.
Turnaround time for the requests/escalations: As defined by the insurer subject to current IRDA regulations.
Life Insurance TATsS.No | Description | TAT |
---|---|---|
1 | Medical Scheduling | Refund will be processed by the Insurers’ Payment Gateway on failure of transaction and will reflect in your account as per your provider’s policy – TAT will be between 2 hours – 7 Days depending on the provider |
2 | Endorsement Issuance | 3-15 days |
3 | Change in Policy terms & Details | 3-15 days |
4 | Receipt for renewal payment | Instantly on online payment – 15 days for offline |
5 | Change in name & address | 3-15 days |
6 | Duplicate policy issuance | 15 days |
7 | Escalation Request Revert | 3 days |
8 | Written communication of decisions on the proposal / raising additional requirements on the proposal | Within 7 days of last communication - will vary from insurer to insurer |
9 | Providing copy of accepted proposal form | Attached with the policy document |
10 | Refund of proposal deposit post cancellation of proposal | 15 days |
11 | Compliance of KYC norms | 7 days |
HEALTH INSURANCE
1. Offer and Acceptance of the Proposal Form
- Filling up the proposal form
- Review and Pay
- Organizing medical checkup and submission of medical reports
2. Issuance of the policy
- The policy is issued immediately if the policy plan does not require a medical assessment of the proposer/insured.
- In case where the medical examination/assessment is involved and underwriter’s approval is required.
Turnaround time for the issuance of policy: within 7 days after receipt of the last requirement raised.
3. Issuance of endorsement
An endorsement is issued to the policyholder whenever any contractual changes (permitted by the plan/policy) are requested by the policyholder, accepted by the Insurer and made in the policy. The turnaround time is from the date of receipt of complete documents: 3 – 15 days depending on the insurer
4. Change of Policy Terms and Conditions/Details Change
Correction of Date of Birth:Change of DOB request means a change or correction in the Date of Birth of the policyholder, life insured or nominee/trustee. Customer needs to submit below mentioned documents:
- Email from register email id or Request letter duly signed by the policyholder.
- Date of Birth Proof.
- Additional Premium (wherever applicable due to change of DOB).
In case of change of address, a policy holder need to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder.
- Valid address Proof of new address.
As per policy contract, policyholder may nominate any other person, to whom the money secured under the policy shall be paid in the event of death of the policyholder. If in case, a customer wants to place a request for change of nominee he / she needs to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder, mentioning new nominee name, DOB & Relation with insured along with the supporting documents.
- In case nominee is a minor then Email from registered email id or Request letter duly signed by the policyholder, mentioning appointee name, DOB & Relation with nominee along with the supporting documents.
For more details connect with your respective Insurer. The turnaround time is between 3-15 days depending on the insurer.
5. Increase in sum assured / Decrease in Sum assured:
As per policy contract, this transaction is allowed only at the time of renewal. This request can be processed after customer submits below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder
- Change Request form (wherever applicable)
- Additional Premium (wherever applicable)
- Medicals (wherever applicable).
For more details connect with your respective Insurer. The turnaround time: As per applicable terms of the insurer.
6. Collection of renewal premiums and remittance to insurers
- Select the insurer for which you wish to pay the renewal premium.
- Input policy number for which premium is due.
- Enter DOB of the life insured.
- Pay amount due on the Payment Gateway through internet banking, debit card, credit card
- Receipt for renewal payment will be sent to registered Email Id.
For more details connect with your respective Insurer. The turnaround time: Instantly in case of online and within 15 days in case of offline.
7. Settlement and payment of claims
To raise a claim, request the policy holder can call the insurer at their customer service number or they can reach us at [email protected] for claims assistance. Our claim settlement team will connect you to the insurer. The claim is settled and paid by the insurance company directly to the customer’s account. If the customer does not receive the satisfactory service or have any other escalations, he/she can use the same e-mail id and phone no. to get the concerns resolved.
Health Insurance Claim Documents/ Guidance
Cashless Claims:
- Approach the insurance desk of the hospital.
- Show the ID card for identification purposes.
- Network hospital would verify your identity and submit pre authorization form to the Insurer
Contact Respective Insurer to settle the claim as per policy terms & conditions.
Reimbursement Claim Process:
- Upon discharge, pay all hospital bills and collect all original documents of treatment undergone and expenses incurred.
- Claim form has to be filled in and along with, all the relevant original documents have to be submitted at the nearest Branch office of the respective Insurance Company
- Insurer will settle the claim subject to policy terms and conditions.
For more details connect with your respective Insurer or refer to Policy T&C
Health Insurance: TATs
S.No | Description | TAT |
---|---|---|
1 | Issuance and crediting of the Policy document / Certificate of Insurance / Proposal form | Within 7 days of last requirement |
2 | Organising medical checkup | As per Insurer (3-7days) |
3 | Issuance of endorsement | 3-15 Days depending on the insurer |
4 | Change is policy terms/ details (DOB, Name, Address, nominee name etc) | 3-15 Days depending on the insurer |
5 | Policy Renewal Receipt Sending | Instantly for online and 15 days for Offline |
6 | Refund of proposal deposit post cancellation of proposal | Within 15 days |
7 | Requests for refund towards free look cancellation, surrender and withdrawal; refund of proposal deposit; refund of outstanding proposal deposit, if any | As per IRDA regulations |
8 | Compliance of KYC norms | Within 15 days |
CAR & TWO-WHEELER
1. Filling of the Proposal Form:
The customer can fill the form in portal. The proposal form has various sections which the proposer is required to fill. Below are the sections:
- Owner Details– This section contains details like owner name, gender, marital status, DOB, occupation and contact details.
- Vehicle Details– This section contains details Registration No. & Date, Engine No, Chassis No. and Hypothecation details.
- Other Details– This section contains details like nominee details, previous policy details and customer Declaration.
For more details connect with your respective Insurer.
2. Issuance and crediting of the Policy document / Certificate of Insurance / Proposal form
- The policy is issued immediately.
- In case where inspection is required for the vehicle the policy issuance takes time of 7 working days from the date of receipt of complete documents.
The turnaround time: for issuance and crediting from the date of receipt of complete documents: 7 days of receipt of the last requirement.
3. Organizing inspection and submission of video inspection report:
Once customer has made the payment of the purchased online plan, he/she would be routed to complete the next steps i.e. Schedule an Inspection (if applicable). For more details connect with your respective Insurer.
4. Issuance of endorsement
An endorsement is issued to the policyholder whenever any contractual changes are accepted and made in the policy. For more details connect with your respective Insurer. Vehicles details change: In case of vehicle detail change, the policyholder needs to submit below mentioned documents:
- Email from register email id or Request letter duly signed by the policyholder.
- Registration Certificate (RC).
- Additional Premium (wherever applicable due to change in NCB, IDV, Ownership transfer, CC Fuel type, CNG addition, MFG year, Legal liability for paid driver & model and variant).
Risk start date change: As per contract risk start date can be changed on the basis of below mentioned documents:
- Email from register email id or Request letter duly signed by the policyholder.
- Previous year policy.
Change of name: In case of change of name, a policyholder needs to submit below mentioned documents:
- Email from register email id or Request letter duly signed by the policyholder. RC Copy.
- Previous year policy copy (wherever applicable).
Change of address: In case of change of address, a policy holder need to submit below mentioned documents:
- Email from register email id or Request letter duly signed by the policyholder.
- Valid address Proof of new address.
Change of nomination: As per policy contract, policyholder may nominate any other person, to whom the money secured under the policy shall be paid in the event of death of the policyholder. If in case, a customer wants to place a request for change of nominee he / she need to submit below mentioned:
- Email from registered email id or Request letter duly signed by the policyholder, mentioning new nominee name, DOB & Relation with insured along with the supporting documents.
Correction in Registration Date, Manufacturing Date, Registration No., Engine No., Chassis No., Cubic Capacity, GVW, Fuel type and NCB: In case of above mentioned changes a policyholder needs to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder.
- RC Copy.
Hypothecation: In case of Hypothecation a policyholder needs to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder.
- RC copy where hypothecation details are already available.
- Invoice copy or finance company letter for new vehicle.
Make, Model and Variant: In case of these changes a policyholder needs to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder.
- RC Copy.
Ownership Transfer: In case of ownership transfer a policyholder needs to submit below mentioned documents:
- Email from registered email id or Request letter duly signed by the policyholder.
- Supporting documents depending upon insurer to insurer.
For more details connect with your respective Insurer.
The turnaround time: 3-15 Days depending on the insurer
5. Collection of renewal premiums and remittance to insurers
- Select the insurer for which you wish to pay the renewal premium.
- Input policy number for which premium is due.
- Enter DOB of the life insured.
- Pay amount due on the Payment Gateway through internet banking, debit card, credit card
- Receipt for renewal payment will be sent to registered Email Id.
For more details connect with your respective Insurer
6. Pre-inspection of risks
The pre-inspection of risks is done for the all the motor policies except two wheelers. The inspection is required where there are Break-in policies. There are two ways of the vehicle inspection.
Self-inspection: In self-inspection the customer after filling the required details online receives the link for the inspection after which he / she is required to download the mobile application for further inspection. After customer does the needful he receives an e-mail of the inspection report and a message on the recommendation/ non-recommendation of vehicle for policy issuance. The time taken to generate the report ranges from 3 to 4 hours. After the inspection of the risk the customer receives a payment link.
Inspection by Agency:
In inspection by agency the agency is involved. The insurer’s agency does the inspection and sends the report to us simultaneously customer also receives a message on the recommendation/ non-recommendation of vehicle for policy issuance. The time taken to generate the report ranges from 3 to 4 hours. After the inspection of the risk the customer receives a payment link.
7. Appointment of surveyors/ advocates
The surveyor is appointed when the customer chooses inspection by agency. The surveyor is the inspection agency of the risk. The surveyors/advocates are appointed during claim as well.
- Submission of survey reports
- Submission of survey report/s happen/s at the time of inspection and claim both.
8. Settlement and payment of claims
General Insurance Claim Documents/Guidance- Contact respective Insurance Partner to intimate the motor insurance claim within 24 hours of the accident.
- Mention the policy number or vehicle number to intimate the bike/car insurance claim.
- Take the vehicle to the nearest garage of your choice / cashless workshop authorised by your respective Insurer - For more details connect with your respective Insurer
- Provide a copy of the car driver's license, self-attested copy of the RC Book along with the signed Claim Form to the garage.
- Pay the difference in amount if any you're at a preferred workshop or cashless garage and take the delivery of the vehicle.
For more details contact your respective Insurer and Policy T&C
Car & Two-Wheeler-Insurance- TATsS.No | Description | TAT |
---|---|---|
1 | Written communication of decisions on the proposal / raising additional requirements on the proposal | Instantly as online |
2 | Providing copy of accepted proposal form | Depending on the insurer sent with the policy document |
3 | Refund of proposal deposit post cancellation of proposal | Within 15 Days |
4 | Requests for refund towards free look cancellation, surrender and withdrawal; refund of proposal deposit; refund of outstanding proposal deposit, if any | Within 15 Days |
5 | Compliance of KYC norms | 7 Days |
6 | Issuance of Policy Document | Within 7 Days of last requirement |
7 | Issuance of Endorsement (change in vehicle details) | 3-15 Days depending on the insurer |
8 | Issuance of Payment Receipt | Instantly for online 15 days for Offline |
9 | Generation of inspection report | 1-2 Days |
10 | Submission of survery report | 2 Days |
Claim Settlement TATs
Life Insurance
S.No | Description (For Respective Insurer) – Life | TAT |
---|---|---|
1 | For Query Requirement or Additional Requirements | Within 15 days of the receipt of Claim by the Insurer |
2 | Claims Settlement (life) | Within 30 days from the date of receipt of all relevant papers and required clarifications. However, where the circumstances of a claim warrant an investigation in the opinion of the insurer, it shall initiate the same at the earliest and complete such investigation expeditiously, in any case not later than 90 days from the date of receipt of claim intimation and the claim shall be settled within 30 days thereafter |
Health Insurance
S.No | Description | TAT |
---|---|---|
1 | Claim Settlement | within 30 days from the date of receipt of last necessary document in accordance with the provisions of Regulation 27 of IRDAI (Health Insurance) Regulations, 2016 |
Vehicle Insurance
S.No | Description | TAT |
---|---|---|
1 | Insurer to inform the insured / claimant of the essential documents and other requirements that the claimant should submit in support of the claim | Within 7 days of the claim Intimation |
2 | surveyor shall start the survey | Within 48 hours of Appointment of Surveyor |
3 | Physical details of Loss shall be recorded and forwarded to Insurer | 15 days from the date of first visit of Surveyor |
4 | Claim Settlement | 30 days of receipt of final survey report and/or the last relevant and necessary document as the case may be |
At Bima Buy, we constantly endeavour to offer a superior and enhanced customer experience. We treat all our interaction with our customers with high sensitivity & accuracy. If you have any queries or concerns or need any kind of assistance, feel free to reach out to us. We are committed to resolving your queries in the least possible time with utmost care.
Best Service Quality, Enhanced Customer Experience & Effective Grievance Redressal
Grievance Redressal Procedure:
If you have concern, complain or a query you can raise it by the following means:
Customer Support Email: A customer can raise a complaint by dropping a mail at the email address: [email protected]
Grievance redressal Officer
Zoom Insurance Brokers Pvt. Ltd.
Zoom House, D-104,
Phase V, Udyog Vihar,
Gurgaon – 122001 (Haryana)
Email : [email protected]
We will assess the nature of the complaint and revert to you in the minimum time possible. All that you should know is we care and we are there to sort out any concern that you have.
Submitting your complaint to the Bima Buy complaint’s team will not affect your right to submit your complaint to the Grievance Redressal Officer of the concerned insurance company & Insurance Ombudsman as per provisions of IRDAI(Protection of Policyholder’s Interest) Regulation 2017, should you not be satisfied with Bima Buy’s response.