ICICI Prudential Life tops Claim Settlement Ratio at 99.35% in Q1-FY2025

Udaipur :ICICI Prudential Life Insurance has declared a claim settlement ratio of 99.35%for Q1-FY2025, the highest amongst all life insurance companies in the country. Notably, the average claim settlement turnaround time was just 1.2 days.Also, during this period the total value of death claims settled by the Company was at Rs. 381.24 crore. Mr. Amish Banker,Chief Operations Officer, Customer Service, ICICI Prudential Life Insurance said, “Life insurance is a product which ensures the financial security of the family in case of loss of the earning member. Therefore, we process every claim with utmost sensitivity and quickly. For Q1-FY2025 we had an individual death claim settlement ratio of 99.35% and the average time taken to settlement a non-investigative death claim was just 1.2 days. We believe our claim settlement ratio is the best in the best in the industry. For this same period, we settled claims totalling Rs. 381.24 crore.