Bangalore, Sep 18: ICICI Prudential Life Insurance has declared a claim settlement ratio of 99.31% for Q1-FY2027, the highest among top life insurance companies in India based on the public disclosures . During the quarter, the Company settled individual death claims amounting to ₹414.08 crore. Notably, the Company’s average value per claim was ~₹15 lakh, the highest among the leading life insurers for Q1-FY2027.
Mr. Sarang Gokhale, Chief – Underwriting and Retail Claims, ICICI Prudential Life Insurance, said:
“At ICICI Prudential Life, we are committed to making the claims process simple, seamless and timely for our customers and their families. In Q1-FY2027, our claim settlement ratio was highest in the industry at 99.31% and our average claim settlement turnaround time for non-investigated claims was just 1 day from last document received date. Besides, we settled ₹414.08 crore in death claims.
Our customer-first approach and strong focus towards digitalisation empowers us to settle claims quickly and provide timely financial relief when families need it the most. The claimants can lodge and track claims easily through our mobile app, WhatsApp, chatbot and website.
Under our ‘Claim for Sure’ initiative, we paid ~₹75 crore within one day for eligible claims. We continue to strengthen our digital processes, so families receive timely support when it matters most.”
