ICICI Prudential Life Insurance stands out yet again for its exceptional performance in claim settlement ratios. For the third quarter of fiscal 2024, the company achieved an impressive 98.6% claims settlement ratio, reaffirming its commitment to providing financial security to policyholders’ families in times of need.
Recognizing the pivotal role of life insurance in financial planning, ICICI Prudential emphasizes the importance of trust and reliability. With claims being the litmus test for the industry, the company’s consistent track record speaks volumes about its customer-centric approach.=The quarterly report reveals a steady rise in claim settlement ratios throughout the fiscal year, with Q3 FY2024 witnessing a commendable 98.52% ratio. Moreover, ICICI Prudential boasts an efficient average claim settlement turnaround time of just 1.3 days for non-investigated claims.
Setting a new standard in customer service, ICICI Prudential’s ‘Claim For Sure’ initiative ensures swift settlement of eligible death claims within one day, backed by a promise of interest compensation for any delays. Additionally, the company leverages digital platforms like WhatsApp, Mobile App, and Website for seamless claim processing, along with convenient home pick-up services for documents.With 3,070 claims settled under ‘Claim For Sure’ in the first nine months of FY2024, totaling Rs 214.70 crore, ICICI Prudential continues to lead the industry in operational excellence and customer satisfaction, cementing its position as a trusted partner in financial security.
