KOCHI: ICICI Prudential Life Insurance has consolidated its position as an industry leader by achieving an impressive claim settlement ratio of 99.31% in the first quarter of the current financial year. During this period, the company settled individual death claims totaling ₹414.08 crore, with an average payout per claim of approximately ₹15 lakh—the highest among leading life insurers in the country. Sarang Gokhale, Chief – Underwriting and Retail Claims, stated that for non-investigation claims, payouts were processed within just one day of receiving the final mandatory documents. Under the company’s ‘Claim For Sure’ initiative, claims worth ₹75 crore were settled in a single day. Furthermore, the integration of digital platforms such as the mobile app, WhatsApp, and the official website has significantly streamlined and expedited the claim process for policyholders.
