Interesting episode is happening with me. I signed up online for life term plan from a known bank and known person. I paid the money online and it was accepted by the “insurance” agency. Then started incessant calls on providing my income proof, my age proof, my residential proof. I would upload? No – Comes the answer… You send it on Whatsapp!!! What? Yes, whatsapp – Unrecognized voice with equally Unrecognized face dictates on phone. Send it to us through whatsapp on equally unrecognisable number. So much so for digitisation!
I would ask the caller – What if I send the income proof on your say so? Who is responsible for the data? What is the guarantee that it will not be mis(ab)used? They had no answer. And rightly so – System doesn't have an answer. How can I expect a person working for the system to have an answer?
Do these agencies who call anonymously take responsibility of integrity and sanctity of data?
Apparently not – Is there a regulation or evaluation against the personal data that is being transferred over the phone line to an anonymous caller?
Why digitise if you cannot digitise? And what about my loss of interest amount? I had paid some amount and still my policy hasn't kicked in – Who is responsible if something happens to me and my kins try to claim? They will be said “no” – You don't exist in our system!!! LOL – Should, I, as a consumer have agreement T&C just like they have in fine print where I put value on my data and have them sign it? Can I have a system where I can tell them to click “I Agree”.
Will they pay my interest or refund me my money in next premium?
Unfortunately, I don't see how can I claim my policy from the day I enrolled with pseudodigitisation and faceless validation and verification?
If they need three factor/two factor authentication, we can provide them. They need to store digital data? We can provide them.