Advertising Standards Council of India (ASCI) has upheld a complaint against Bajaj Allianz General Insurance false advertising. One Moneylife reader forwarded e-mailer ad from Bajaj Allianz on car and health insurance with a heading “Ways Your Current Insurance Company Is Ripping You Off”. He was curious to know if the insurer has data to back its claim – e.g. fastest claims servicing, legal advice, accommodation benefits, 30% savings on medicines, eye care, dental care and so on. Making tall claims is a ground for an ASCI complaint. Moreover, other insurers will be watching and also seek a fast track hearing. 

 

Moneylife wrote to Bajaj Allianz General Insurance and was surprised with its response. It stated – “This is to inform you that this advertisement (e-mailer) has not been circulated by Bajaj Allianz General Insurance. Every communication sent by the Company to the customers is in line with the guidelines issued by IRDA and adheres to the code of self-regulation in advertising. The original creative as per the ad code mentioned in the e-mailer you have referred, has been attached herewith.  We keep a repository of every marketing collateral be it advertorials, posters or e-mailers sent out to the external audience and it is approved by the appointed actuary and is shared with the regulator to generate the ad-code (identification number). This incident was reported to us through other quarters as well.

 

We work with various e-mail vendors and publishers who help us reach out to our existing as well as potential customer base.  We share only the advertorials/e-mailers approved by the regulator with them for circulation. It was brought to our notice that our creative has been tampered with (the subject line as well as the content) by a particular publisher and is being circulated amongst the customers. We have initiated a strict legal action against the said publisher for misleading the customers.

 

We do provide our customers with the benefits of 24*7 Road Side Assistance, Depreciation shield, Engine Protector etc., these are the add-on covers that we offer along with our motor insurance policy. In the space of health insurance and wellness we do provide a bunch of value added services to our customers. We have tied up with hospitals, diagnostic centers, pharmacies and various health and wellness service providers across India that provide discounts ranging from 10% to 30% on products medicines and health checkups.

 

 

 

 

Bajaj Allianz’s response accepts that the advertisement is unapproved by Insurance Regulatory and Development Authority (IRDA). How can false claims be made by mass e-mailer sent by own vendor/publisher if the company is not involved?

 

Bajaj Allianz claims that it has initiated strict legal action against the vendor/publisher. Moneylife asked Bajaj the name of vendor/publisher, but it has refused to give it to us. Bajaj should accept their moral responsibility in the wrongdoing and promise that in future such excuses will not be acceptable. Strict action needs to be taken against the vendor/publisher for false advertisement.

 

Complaint by Moneylife reader to ASCI was upheld. Based on no comments from the advertiser, ASCI concluded that the claims in the e-mailer were not substantiated. The E-mailer contravened Chapter I.1 of the ASCI Code. ASCI have advised the advertiser to withdraw or modify the ad before 15 December 2014 or seek review of the decision.