ICICI Pru LI leads with Claim Settlement Ratio of 99.60% in Q1
ICICI Prudential Life Insurance leads in Q1 with an impressive claim settlement ratio of 99.60%, reinforcing trust and reliability in life insurance services.
ICICI Pru LI leads with Claim Settlement Ratio of 99.60% in Q1
Mumbai, Aug 25
ICICI Prudential Life Insurance has declared an industry leading claim settlement ratio of 99.60% for Q1-FY2026.
Amish Banker, Chief Operations Officer, ICICI Prudential Life Insurance said, “Claims are where promises meet reality. At ICICI Prudential Life, every claim is handled with utmost sensitivity and processed quickly. This is reflected in our industry-leading claims settlement ratio of 99.60% in Q1-FY2026. The Company settled death claims totalling ₹406.89 crore in Q1-FY2026. Leveraging data analytics along with AI and ML based technologies is enabling us to quickly and efficiently process claims.”
Under the ‘Claim for Sure’ service initiative, the Company promises to settle all eligible claims within one day after receiving all documents. In Q1-FY2026, the Company has settled claims totaling ₹74.72 crore under this initiative.
The Company’s digital enablers are helping claimants to lodge and track claims seamlessly which includes option for Digital Claim Submission and Realtime claim tracking.
The Company also leverages digital public infrastructure for the purpose of claim processing and decision making which has helped settle non-investigated death claims with an average turnaround time of 1.1 days from the time the last document was received.
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