ICICI Prudential Life Insurance has set a benchmark in the life insurance sector by announcing a remarkable claim settlement ratio of 99.35% for the first quarter of FY2025, the highest among all life insurance providers in India. The company efficiently settled death claims totaling ₹381.24 crore during this period, with an impressive average turnaround time of just 1.2 days for non-investigative claims.
Mr. Amish Banker, Chief Operations Officer of Customer Service, emphasized the company’s commitment to ensuring financial security for families. He stated, “We process every claim with utmost sensitivity and quickly. Our claim settlement ratio is the best in the industry, reflecting our dedication to customer service.”
In comparison to previous quarters, ICICI Prudential maintained a strong performance, with Q1-FY2024 at 97.94% and FY2024 achieving a ratio of 99.17%. The company’s ‘Claim For Sure’ initiative further enhances service delivery, promising to settle eligible claims within one day of document submission.
In Aizawl, local policyholders have praised the swift claim settlement process, which has fostered trust and confidence in the company’s services, making ICICI Prudential a preferred choice among residents seeking reliable life insurance coverage.
