Terms And Conditions

Finofin Insurance and Advisory Services Pvt. Ltd.

1. Introduction

By accessing, browsing, or using the services of Finofin Insurance and Advisory Services Pvt. Ltd. (“Finofin”, “We”, “Our”), including but not limited to our website, mobile application, and offline advisory channels, you (“User”, “Customer”, “You”) agree to be bound by the following Terms & Conditions (“T&C”). If you do not agree, you may discontinue use of our services.

2. Nature of Services

• Finofin is a licensed Corporate Agent (Composite) registered with the Insurance Regulatory and Development Authority of India (IRDAI)
• Finofin provides access to insurance products offered by IRDAI-registered insurers.
• Finofin does not underwrite or issue insurance policies. All decisions relating to risk acceptance, policy issuance, renewal, cancellation, premium calculation, claims processing, and settlement rest solely with the insurers.
• Finofin’s role, as Corporate Agent is limited to advisory and facilitation of insurance distribution in compliance with IRDAI guidelines.

3. Regulatory Compliance

• Finofin operates strictly under the Insurance Act, 1938, the IRDAI (Registration of Corporate Agents) Regulations, 2015, and subsequent circulars/guidelines issued from time to time.
• For payment services, Finofin complies with Reserve Bank of India (RBI) regulations including:

  • RBI’s Guidelines on Regulation of Payment Aggregators and Payment Gateways (PAPG), 2020.
  • Prevention of Money Laundering Act (PMLA), 2002 and KYC/AML guidelines.
  • RBI’s Cybersecurity Framework & IT Guidelines applicable to regulated entities.
• The Company may share information with insurers, payment service providers, and regulators to ensure compliance with law.

4. User Responsibilities

• Users shall provide accurate, complete, and true information while applying for insurance or making payments.
• Misrepresentation, suppression of facts, or fraudulent activities may result in rejection of proposals, cancellation of policies, and/or reporting to regulatory authorities.
• Users are responsible for reviewing and understanding the insurer’s policy wordings, coverage, exclusions, and conditions before purchase.
• Users must keep login credentials, OTPs, and payment information confidential and notify Finofin immediately in case of suspected unauthorized use.

5. Disclaimers

• Finofin does not guarantee policy issuance or claim settlement. These are determined solely by the insurer.
• Finofin shall not be liable for:

  • Claim delays, rejections, or partial settlements.
  • Errors or omissions in insurer’s systems or documentation.
  • Losses due to inaccurate details entered by the User.
• Premium quotes displayed are indicative and subject to change by the insurer at the time of final underwriting.

6. Payments

• Premiums paid via Finofin’s platform are collected directly by insurers or their authorized payment aggregators in accordance with IRDAI and RBI guidelines.
• Finofin does not retain premiums, except for authorized commissions/remunerations as permitted under IRDAI regulations and Corporate Agent license.
• All payment transactions are routed through RBI-compliant, PCI-DSS certified systems ensuring secure transmission.
• Finofin does not store sensitive financial data such as bank account details, debit/credit card numbers, CVV, or UPI PINs.
• Failed transactions where the amount is debited but not credited will be refunded as per NPCI/bank settlement timelines.

7. Cancellation & Refunds

• CFree-look, cancellation, and refund of premiums are governed solely by the insurer’s terms and IRDAI regulations.
• Finofin has no role in refund determination and does not guarantee timelines to be maintained by the insurers.
• Refunds, if applicable, will be processed by the insurer/payment partner directly.

8. Intellectual Property

• All content, branding, logos, text, graphics, and material on Finofin’s platforms are owned by Finofin and protected by copyright and trademark laws.
• Users may not copy, reproduce, modify, republish, or distribute material without prior written consent.

9. Limitation of Liability

• Finofin shall not be responsible for any direct, indirect, incidental, or consequential losses arising from:

  • Use or inability to use our services.
  • Delay, failure, or interruption in transactions.
  • Unauthorized access despite reasonable safeguards.
• Finofin’s liability, if any, shall be limited to the extent of commission received as Corporate Agent on the respective transaction.

10. Privacy & Data Security

• Finofin values customer privacy and complies with IRDAI Information & Cybersecurity Guidelines, 2023 and applicable data protection laws.
• Personal data may be shared with insurers, reinsurers, service providers, and regulators for policy servicing and compliance purposes.
• Finofin uses reasonable security practices (encryption, firewalls, multi-factor authentication) to protect customer data but is not liable for breaches caused by events beyond its control (cyberattacks, force majeure, or third-party failures).

11. Grievance Redressal

• For queries or complaints, customers may contact Finofin’s Grievance Redressal Officer.
• If unresolved within the prescribed time, complaints may be escalated to:

  • The respective insurer’s Grievance Cell.
  • IRDAI Integrated Grievance Management System (IGMS) at www.igms.irda.gov.in.
  • The Insurance Ombudsman under the Redressal of Public Grievances Rules, 1998.

12. Governing Law & Jurisdiction

These T&C shall be governed by and construed in accordance with the laws of India. Any disputes shall fall under the exclusive jurisdiction of the courts at Chandigarh, India.

13. Contact Information

Finofin Insurance and Advisory Services Pvt. Ltd.
Registered Office: FINVASIA CENTRE, D-179, Industrial Area 8B, Sector-74, Mohali, Punjab, 160055.

Email: Support@jumpp.insure
Phone: +91-86999-83888