ICICI Prudential Life Leads Industry with 99.60% Claim Settlement Ratio
Udaipur: ICICI Prudential Life Insurance has reported an industry-leading claim settlement ratio of 99.60% for the first quarter of FY 2026, covering the period from April 2025 to June 2025. Remarkably, the average settlement time for death claims without investigation was only 1.1 days.
Mr. Amish Banker, Chief Operating Officer of ICICI Prudential Life Insurance, stated,
"The real measure of an insurance company’s promise lies in how quickly and efficiently claims are settled. At ICICI Prudential Life, every claim is taken very seriously and processed swiftly. Our 99.60% claim settlement ratio in Q1 FY 2026 demonstrates our commitment to policyholders. During this period, the company settled a total of ₹406.89 crore in death claims. Leveraging AI, machine learning, and advanced data analytics enables us to process claims quickly and efficiently."
Under the ‘Claim for Sure’ initiative, the company pledges to settle all eligible claims within one day of receiving documents. In the first quarter of FY 2026, ICICI Prudential Life settled ₹74.72 crore worth of claims under this initiative.
The company’s digital systems also assist policyholders in filing claims easily and tracking their status conveniently, reinforcing its focus on transparency and customer-centric service.
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