ICICI Prudential Life Insurance has topped the life insurance claim settlement list for Q1-FY24, settling 97.9% of claims and providing excellent customer service. This ratio, which shows the percentage of insurance claims the company has paid out compared to total claims, is often overlooked but is crucial in choosing a good life insurance company.
The latest claim settlement ratio for Q1-FY24 shows ICICI Prudential Life Insurance at 97.90%, followed by HDFC Life Insurance at 96.70%, SBI Life Insurance at 95.80%, Bajaj Allianz Life Insurance at 93.50%, Max Life Insurance at 86.30%, and TATA AIA Life Insurance at 77.30%.
The company’s ‘Claim For Sure’ initiative ensures all eligible death claims are settled within one day after submitting all required documents, aiming to reduce financial distress caused by the loss of a family member.
