by Suman Gupta
ICICI Prudential Life Insurance has declared a claim settlement ratio of 99.60%, the highest in the industry, for the period from April 2025 to June 2025. Notably, the average time to settle a non-investigated death claim was just 1.1 days.
Mr. Amish Banker, Chief Operations Officer, ICICI Prudential Life Insurance said, “Claims are where promises meet reality. At ICICI Prudential Life, every claim is handled with utmost sensitivity and processed quickly. This is reflected in our industry-leading claims settlement ratio of 99.60% in Q1-FY2026. The Company settled death claims totalling ₹406.89 crore in Q1-FY2026. Leveraging data analytics along with AI and ML based technologies is enabling us to quickly and efficiently process claims.”
Under the ‘Claim for Sure’ service initiative, the Company promises to settle all eligible claims within one day after receiving all documents. In Q1-FY2026, the Company has settled claims totaling ₹74.72 crore under this initiative.
The Company’s digital enablers are helping claimants to lodge and track claims seamlessly.
