ICICI Prudential Life Insurance has reported an impressive claim settlement ratio of 99.35% for the first quarter of FY2025, the highest in the Indian life insurance industry. The company settled death claims worth ₹381.24 crore, with an average turnaround time of just 1.2 days.
Mr. Amish Banker, Chief Operations Officer of Customer Service, stated, “Life insurance is essential for ensuring the financial security of families. We handle every claim with the utmost sensitivity and efficiency.” This outstanding ratio reflects the company’s ongoing commitment to policyholders, with a consistent track record of high settlement ratios, including 97.94% in Q1-FY2024 and 99.17% for the entire FY2024.
In Gangtok, the demand for life insurance is steadily increasing as more residents recognize the importance of financial protection. ICICI Prudential’s quick claims process and innovative services, like the “Claim For Sure” initiative, resonate well with the local populace. This initiative promises settlement of eligible claims within a day, enhancing customer trust and satisfaction. With user-friendly digital platforms available for claim tracking and submissions, ICICI Prudential is well-positioned to cater to the growing insurance needs of Gangtok’s residents.
