Insurance fraud is on the rise, and scammers are getting more sophisticated. Falling for a fake insurance agent can leave you without coverage when you need it most. Considering the impact that this can have, InsuranceDekho, India’s leading insurtech brand, has come up with a list of five major red flags to help people stay alert and protect themselves:
1. Too Good to Be True Offers
If an insurance plan promises unrealistically low premiums, guaranteed high returns, or “exclusive” deals, be cautious. Genuine policies always come with risks and standard terms. If something sounds too good to be true, it probably is not.
2. Cash-Only Payments
A legitimate insurance company will never ask for cash payments or transfers to personal accounts. Fraudsters prefer cash or unofficial payment methods to avoid traceability. Always ensure payments go directly to the official company account.
3. No Digital or Official Presence
The world is digital and genuine insurance professionals have a visible online presence. If an agent lacks a LinkedIn profile, isn’t listed on the company’s website, or isn’t registered with the insurance authority, that’s a red flag. Always verify their credentials with the insurer before proceeding.
4. Unprofessional Communication
Legitimate agents use company-issued email addresses. Be wary of agents using Gmail, Yahoo, or oddly formatted emails. Scammers also rely on WhatsApp and social media instead of official communication channels. Always confirm official contact details with the insurance provider.
5. High-Pressure Sales Tactics
Fraudsters create urgency, pushing you to act fast with statements like:
- “This offer expires today!”
- “Pay now to lock in this special rate!”
- “You’ll miss out if you don’t act immediately!”
A registered agent will give you time to review, ask questions, and make an informed decision.
How to Protect Yourself
- Verify the agent’s license through the official insurance regulatory body.
- Contact the insurance company directly to confirm the agent’s identity.
- Avoid cash payments, use official company channels only.
- Check online reviews, government listings, and social media for legitimacy.
- Trust your instincts, if something feels off, investigate before committing.
Stay vigilant, ask questions, and always verify before buying. Your financial security depends on it!
Disclaimer: This news article is based on a press release and has been published as received, with minimal edits for clarity and style. Deshwale is not responsible for the content, claims, or viewpoints expressed in the release. Readers are advised to exercise their discretion before forming any opinions or making decisions based on this information.
