29
Aug
Claims settlement remains the ultimate test of trust in the life insurance sector, as customers increasingly look beyond premiums and policy benefits to assess whether an insurer will deliver when it matters most. India’s life insurance industry collected premiums worth ₹8.86 lakh crore in FY2024-25, marking a 6.73% increase over the previous year. However, life insurance penetration declined to 2.7% of GDP, highlighting the challenge of expanding insurance protection and strengthening customer confidence. Axis Max Life said claims performance should be viewed as a key indicator of an insurer’s ability to fulfil its promise. The company’s individual death claims paid…
