[Resolved]  ICICI Prudential Life Insurance — ICICI Prulife changes user passwords

I found another strange problems, security issues with ICICI group, now with ICICI Prudential Life Insurance. It changes user passwords for online transactions, without user consent, which can lead to fraudulent transactions. It caused me major losses when I tried to switch my funds, as I noticed that I could not login to the website. Fortunately, I accidentally noticed an email notification to one of my old email addresses informing me of password change 'as per your request', got me a shock. I never asked for this. I got my password reset through ICICI. To my shock, a few days later I again could not login, and found the same problem. After it repeated, I registered complaint with ICICI Prulife finally. Here is the final response from ICICI:

There was a prompt inquiry, and this problem did not repeat again, however, I still had to bear all the losses.

From: saphira fernandes [mailto:saphira.[protected]@iciciprulife.com]
Sent: Friday, February 08, 2008 7:26 PM
To: [protected]@yahoo.com
Cc: <deleted>
Subject: ICICI Prudential Life Insurance Company Limited

Dear Mr. Palsapure,

In continuation to the interactions we had pertaining to the password being reset without your requisite for an initiation of the same in reference to your LifeTime (UIN: 105L013V01) policy number 00500268 with us please note that we have identified the individual and interrogate along with our investigations to help ascertain the reasons to reset the password.

Investigations revealed that your contract number was erroneously populated instead the customer requesting the same and hence even after the same was reset the details were mailed to you at your address.

We have initiated the necessary actionables and identified loopholes that we would undertake as a learning and help plug the same at the earliest.

I take this opportunity to thank you for highlighting the same to us. Instances such as this allow us the opportunity to identify our areas of improvement. In expressing our regret, you may be assured that we will take the necessary steps to avoid the chance of this situation arising in future.

I trust the above explanation helps clarify your concerns raised.

In case of any assistance needed please feel free to contact our customer service toll free number at[protected] from your MTNL or BSNL lines or write to us at [protected]@iciciprulife.com .

I assure you the best of our services.

Warm Regards,

Saphira Fernandes
Process Leader - Customer Relations

ICICI Prudential Life Insurance Company Limited Direct: +[protected] Fax: +[protected]
saphira.[protected]@iciciprulife.com
www.iciciprulife.com

Vinod Silk Mills Compound, Chakravarthy Ashok Nagar, Ashok Road, Kandivali (E) Mumbai 400 101, Maharashtra, India.

* Insurance is a subject matter of solicitation
* In ULIP policy, the investment risk is to be borne by the policyholder