ICICI Prudential Life Insurance has achieved a remarkable claim settlement ratio of 99.35% for Q1-FY2025, establishing itself as a leader in the Indian life insurance sector. With a total of ₹381.24 crore in settled death claims and an average turnaround time of just 1.2 days, the company demonstrates its commitment to providing financial security to families during difficult times.
Mr. Amish Banker, Chief Operations Officer of Customer Service, remarked, “Life insurance is vital for ensuring financial security. We process every claim with the utmost sensitivity and efficiency.” This impressive ratio reflects ICICI Prudential’s longstanding tradition of high settlement rates, having recorded 97.94% in Q1-FY2024 and 99.17% for the entire FY2024.
In Gangtok, awareness about the importance of life insurance is rapidly increasing among residents. The demand for reliable insurance products has surged as families seek to secure their financial future. ICICI Prudential’s innovative “Claim For Sure” initiative, which guarantees settlement of eligible claims within a day, has particularly resonated with the local market. Coupled with user-friendly digital solutions for claim submissions and tracking, the company is poised to meet the growing insurance needs of Gangtok’s community, reinforcing its reputation as a trusted provider in the region.
