Complaints Management Policy Procedure
Purpose and Objective
Universal Life aims to continuously improve the services provided to its clients. Effective complaints management is fundamental to the provision of quality services and provides a platform for obtaining feedback from its clients to resolve disputes and reform policies and procedures.
For this purpose, Universal Life has developed and established a Complaints Management Policy, which is designed to guide how the Company receives and manages complaints. The application of this policy will ensure that complaints received are dealt with fairly, promptly and efficiently, and confidentially.
Policy Statement
Universal Life through this policy is committed to effectively managing complaints promptly and fairly, ensuring that:
Review of the Complaints Management Policy
The complaints management system included in this Policy and internal procedures will be reviewed periodically (at least annually) aiming to enhance the transparency, efficiency and the greatest possible satisfaction of the clients of Universal Life.
Complaints Procedure/Lodging a Complaint
1. Who can file a complaint:
Any complaint can be submitted by the Owner of an individual or group Policy. Also any member or insured person or covered person of any Policy, can submit a complaint provided that the Owner of the Policy is notified (in case of group the company or organization). We are oblidged to discuss any complaint with the Owner of the Policy.
2. First point of contact
Should you worry about any aspect of the services we offer, your first point of contact should be your Insurance Intermediary or our Customer Support Department.
3. Complaints procedure steps
If you find it necessary to pursue the matter further, you should submit a formal complaint letter (by regular mail or electronic mail) addressed to:
Complaints Management Officer
Universal Life
P.O.Box 21270
1505 Nicosia
Cyprus
email: complaints@unilife.com.cy
who will investigate the matter independently.
Having received a reply from the Complaints Management Officer and if you are still not satisfied with the way in which your complaint has been handled, you may then write to
General Manager/Chief Operating Officer
Universal Life
P.O.Box 21270
1505 Nicosia
Cyprus
We strongly recommend that you make any formal complaint in writing in order to protect your interests. This will support our objective of ensuring any complaints received are dealt with fairly, promptly, efficiently and in confidence.
We expect from you:
4. Response timeframes in complaints handling
If your complaint can not be resolved immediately, its investigation will go through the following timeframes:
Αcknowledgement of your complaint within 2 working days of receipt.
Your complaint will be addressed within 15 working days. A relevant response will be sent immediately.
On rare occasions where more time is required for the proper and detailed investigation of your complaint, an extension period will be requested in writing. In our letter, besides any additional information that we may request, we will inform you of our actions taken so far and any further actions required for the completion of the investigation. Our aim is to ensure that you receive our final response within 45 working days from the date of receipt of the complaint.
5. Status update request
Should you wish to request an update at any stage of the complaint investigation, you can do so by contacting the Complaints Management Officer.
6. If you are still not satisfied
If you continue to be dissatisfied you can refer your complaint to the Financial Ombudsman
You can find more details in the website www.financialombudsman.gov.cy. For your convenience, we have uploaded summary information in the link “FINANCIAL OMBUDSMAN – BASIC FACTS ON THE COMPLAINT REFERRAL PROCEDURE”, in which you can find a mongst other who is eligible to apply/refer a complaint, how to apply and what are the prerequisites that should be met for a complaint to be valid
Your right to legal action
None of the above affects your right to take legal action.