ICICI Prudential Life Insurance has set a new industry benchmark with a remarkable claim settlement ratio of 99.35% for the first quarter of FY2025, reaffirming its commitment to customer satisfaction in the Indian life insurance market. The company settled death claims worth ₹381.24 crore during this period, with an impressive average turnaround time of just 1.2 days for non-investigative claims.
Mr. Amish Banker, Chief Operations Officer of Customer Service, emphasized the importance of trust in the insurance industry, stating, “Life insurance ensures financial security for families in the absence of an earning member. We process claims with sensitivity and speed, reflected in our leading ratio.” This achievement highlights ICICI Prudential’s consistent performance, improving from a ratio of 97.94% in Q1-FY2024 to 99.17% for FY2024.
Shillong has welcomed ICICI Prudential’s swift claims processing, with many residents expressing their confidence in the insurer’s ability to provide timely support during challenging times. The ‘Claim For Sure’ initiative, which promises to settle eligible claims within one day, has particularly resonated with customers, reinforcing the company’s reputation as a reliable choice for life insurance in the region.
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