For the fiscal year ended in March 2024, the company paid a total of Rs 1,867 crore in death claims, it added.
The company said it has enabled its digital touchpoints such as WhatsApp and the mobile app providing convenience to claimants to lodge and track claims. Also, the company provides home pick-up of claim documents.
ICICI Prudential Life Insurance Senior Executive Vice President, Customer Service, Amish Banker said in the last ten years the company has settled death claims totaling Rs 12,112 crore.
“For FY2024, we had an industry-leading claim settlement ratio of 99.17% and the average time taken to settle a claim was just 1.27 days for non-investigated retail death claims after receiving all documents,” Banker added.