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Travel Insurance as an ancillary service is emerging as the buzz word in the outbound tourism sector. It is being realized as a dire need, keeping in view the uncertainties associated with modern day travel. The paradigm change in the travel industry shall be captured in this work as the accent is increasingly laid on people centric business approaches wherein the policyholder is at the focal point. The present work probes the regulations in place in the current perspective in the travel insurance business to protect the interests of both insurers and the insured which also focus on customer retention. Presently, the travel insurance market, with an immense pool of transactions and huge customer size faces lot of challenges, particularly the policyholders’ grievances. Across all corporate entities there is a drastic improvement in the customer service culture, albeit it leaves much to be desired. Settling of claims at a fast pace is the sure shot to customer retention. A perceptible development has risen in the Indian insurance industry during the last few decades with the emergence of the institution of ombudsman set up by the Insurance Regulatory and Development Authority (IRDA). The ‘Insurance Ombudsman’ is engaged to receive and consider complaints from any tourist who has grievance against a travel insurance product of a company; to handle issues at appropriate time such as claim settlement to be operated in a transparent mode and initiation of user friendly process for the customers while filing complaints related to travel insurance. This study focuses on customer grievance redressal mechanisms in vogue as regards rendering travel insurance schemes and services with the scrutiny by the insurance ombudsman at the time of dispute, as a customer retention strategy. In fact, recently, travel insurance industry has seen a remarkable growth both in the number of policies as well as the premium incomes of travel insurance. The intensity of this growth has brought to fore large number of consumer complaints and grievances. Therefore, it may be construed that each travel insurance company has to devise an in-house department exclusively for customer grievance redressal to accentuate customer retention. This explorative work in a qualitative mode makes a critical analysis on the contemporary practices and propositions.

PAPER TITLE: SCANNING THE NUANCED DIMENSIONS OF GRIEVANCE REDRESSAL AS PRIME CUSTOMER RETENTION STRATEGY IN INDIAN TRAVEL INSURANCE INDUSTRY