ICICI Prudential Life Insurance achieved a claim settlement ratio of 99.35% in Q1-FY2025, the highest among all life insurance companies in India. The company settled death claims worth ₹381.24 crore during this period, with an average settlement time of just 1.2 days. ICICI Prudential’s "Claim For Sure" initiative also ensured quick processing, settling claims worth ₹68.74 crore in one day after receiving required documents. Mr. Amish Banker, COO of Customer Service, said, “We process every claim with utmost sensitivity and speed. Life insurance secures families financially, and with a settlement ratio of 99.35%, we aim to uphold that promise efficiently. We have a history of consistently having an industry leading claim settlement ratio.” Specifically, under there Claim For Sure’ service initiative, the bank settled claims amounting to Rs. 68.74 crore in Q1-FY2025.
