ICICI Prudential Life Insurance has recorded a claim settlement ratio of 99.31% during Q1-FY2027, as per its public disclosures in Form L-39 and L-40. The Company settled individual death claims worth Rs.414.08 crore during the quarter, with the average value per claim standing at approximately Rs.15 lakh.
Sarang Gokhale, Chief – Underwriting and Retail Claims, ICICI Prudential Life Insurance, said, “Our focus at ICICI Prudential Life continues to be on making the claims process simple, seamless and responsive for our customers and their families. During Q1-FY2027, we achieved a claim settlement ratio of 99.31% and settled individual death claims amounting to Rs.414.08 crore. Our average turnaround time for non-investigated claims was just one day from the date of receiving the last document.
Digitalisation has played an important role in improving the customer experience. Claimants can conveniently lodge and track their claims through our mobile app, WhatsApp, chatbot and website, enabling faster access to financial support.
As part of our ‘Claim for Sure’ initiative, approximately Rs.75 crore was paid within one day towards eligible claims. We remain committed to further strengthening our digital processes and ensuring timely support to families when they need it most.”