ICICI Prudential Life Insurance has the highest claim settlement ratio among private sector life insurers in Q2 2024, with a claim settlement ratio of 98.14% and the best claim settlement ratio of 97.9% rate in the first quarter of the Financial Year 2024. This demonstrates the company’s commitment to delivering on promises to customers and their families.
In Q2 2023, the ratio was 98.7%, with an average time of 1.2 days for settling genuine death claims. The company’s claim settlement ratio is 98.14%, outperforming TATA AIA Life Insurance, HDFC Life, Bajaj Allianz Life Insurance, Max Life Insurance, and SBI Life Insurance.
The data is publicly available on the company’s website, and its ‘Claim For Sure’ service initiative ensures all eligible death claims are settled within one day after receiving all necessary documents.
