Policy: Complaint Management based on the No. 89/5.4.2016 Act of the Executive Committee of the Bank of Greece "Examination of complaints by insurance intermediaries".
1. Purpose
FINASSURANCE provides for the requirements of the No. 89/5.4.2016 Act of the Executive Committee of the Bank of Greece “Examination of complaints by insurance intermediaries”.
2. Objective
The objective of this policy is the lawful operation of FINASSURANCE as an insurance product distributor (insurance agent / coordinator of insurance agents) regarding a) the adoption of a related complaints policy b) the establishment of a Complaint Management Function c) the maintenance of a Complaints Registry d) the process of responding to complaints e) the taking of corrective actions and the possibility of informing the Supervisory Authority when necessary.
According to article 2, clause 1 of the aforementioned act:
“Complaint” refers to a written statement of dissatisfaction addressed to a company by a person who is related to the insurance policy or the insurance services provided by the company. The definition of complaints does not include claims notifications or compensation requests, nor simple requests related to the execution of the contract and the provision of information or clarifications.
“Complainant” refers to the person who has the right to submit a complaint for examination by an insurance intermediary and has already submitted a complaint, such as the contracting party, the insured, the beneficiary of compensation, or an injured third party.
FINASSURANCE actively assists in resolving customer complaints by collaborating with the insurance companies involved in the examined complaint. The goal is to gather the maximum available information so that the involved insurance companies can prepare their official response to the customer or relevant authorities. The complaint handling process is carried out confidentially.
3. Complaint Management Policy and Complaint Management Function
FINASSURANCE drafts this Complaint Management Policy to regulate the Complaint Management Function and the corresponding process for this purpose. The Complaint Management Function is carried out by the Complaint Management Department, under the responsibility of Ms. Athanasia Katzela.
The Complaint Management Function maintains an updated electronic Complaint Management file (by year), which contains information on each case and is accessible at any time by the management of FINASSURANCE.
The Complaint Management Function must prepare a report to inform the management once a year, submitting a summary of its activities.
The report includes the following data:
- The number of complaints received and responded to by the FINASSURANCE Complaint Management Function for further investigation, information, and clarification.
- Identification details of the complainant.
- The time taken to manage the complaints.
- The number (distribution) of complaints by cause of complaint.
- The number (distribution) of complaints by insurance sector.
- The number (distribution) of complaints by source medium.
- The outcome of the complaint.
In this report, along with the data related to complaint examination, any weaknesses and deficiencies in internal processes revealed during the examination are also recorded so that any recurring or systematic issues and potential legal and operational risks can be identified and addressed.
Whenever requested by the competent authority, FINASSURANCE provides written information regarding customer complaints.
4. Receiving Complaints and Response Process
Complaints (complaints) can be submitted in writing through the special Complaint Submission Form of FINASSURANCE, via letter, phone 210 9236660, or in person at the address: 130 Sygrou Avenue, Athens, 11745. Alternatively, they can be submitted via email to services@finassurance.gr, attention: Complaint Management Function.
FINASSURANCE, through the Complaint Management Department, ensures that complaints are investigated and handled in good faith by collecting and processing all relevant data and information, while addressing any conflicts of interest.
In order to process complaints, customers need to provide FINASSURANCE with:
- Their insurance policy number
- The damage file number maintained by the insurance company (if the complaint concerns an insurance claim)
- A full description of the complaint(s)
- Their request for the resolution of the issue raised
- Their current contact details
- How they wish to receive the acknowledgment receipt that confirms the complaint was received by the company
All complaints submitted are kept in a secure electronic registry and in a secure file with a full record of the documents related to the management of each submitted complaint, which is registered separately.
This file is maintained for up to five years from the submission of the complaint.
Upon receiving a complaint, the complainant will be provided with an acknowledgment receipt, which includes a brief description of the complaint management process applied by FINASSURANCE, the contact details of the responsible person for handling and investigating the complaint, any necessary information the complainant needs to provide for the investigation, or any documents the complainant must submit for the investigation, copies of which are available and kept in the corresponding complaint file.
Within a period of twenty (20) days from the date of submission of the complaint document, the complaint will be examined by the company, and a written and reasoned response will be provided.
If the complainant’s request is not fully satisfied, it will be clearly stated that the complainant has the right to remain with their complaint.
If for any reason it is not possible to respond in writing to the complaint within the above-mentioned deadline, FINASSURANCE will inform the complainant in writing and in a timely manner, notifying them of the probable time for the completion of the investigation, which will not exceed fifty (50) days from the date of submission of the complaint document.
The submission of a complaint does not interrupt or suspend the limitation period for legal claims of the complainants.
The complainant will be informed by the responsible complaint management staff of FINASSURANCE about the progress of the investigation of their complaint.
The complainant has the right to refer to the following Authorities for out-of-court dispute resolution:
- The Directorate of Private Insurance Supervision of the Bank of Greece, 3 Amerikis Street, 10564, Athens.
- The General Secretariat for Consumers of the Ministry of Development, Competitiveness, Infrastructure, Transport, and Networks, Kaniggos Square, 10181, Athens.
- The Ombudsman for Consumers, Alexandras Avenue 144, 11471, Athens 12.