ICICI Prudential Life Insurance Co. Ltd. has reached a significant financial milestone, surpassing ₹3 lakh crore in Assets Under Management (AUM). As of July 31, 2024, the company’s AUM stands at an impressive ₹3.14 lakh crore.
Anup Bagchi, MD & CEO of ICICI Prudential Life Insurance, expressed his enthusiasm about this achievement, stating, “We are delighted to have crossed the ₹3 lakh crore milestone. This reflects our customers’ trust in our products and our commitment to helping them achieve their long-term financial goals. Our focus on simplifying products and processes has been pivotal in this growth.” He emphasized that the company’s robust investment philosophy and risk management framework have ensured a consistent track record with no Non-Performing Assets since its inception.
Bagchi also highlighted the role of technology in enhancing customer experience, stating, “Our technology solutions have streamlined life insurance processes, allowing us to offer innovative products and maintain a high claim settlement ratio of 99.17% with an average turnaround time of just 1.27 days.” In Gangtok, the market perspective on ICICI Prudential’s milestone reflects growing confidence in financial products. The robust growth in AUM is seen as a positive indicator of the increasing adoption of life insurance products in the region, with residents acknowledging the company’s commitment to financial security and efficient service.
