ICICI Prudential Life posts a claim settlement ratio of 99.33% in the first half of the year

ICICI Prudential Life Insurance has reported a claim settlement rate of 99.33 percent for the first half of FY2026, positioning itself as a leader among major life insurers in India. The company settled death claims worth ₹893.38 crore during this period.

The insurer achieved an average turnaround time of 1.1 days for uninvestigated claims. Under the ‘Claim for Sure’ initiative, which promises settlement of eligible claims within one day of filing, the company processed death claims totaling ₹157.25 crore in H1FY26.

The company had earlier posted a claims settlement ratio of 99.60 percent in Q1-26, maintaining its position at the top of the industry rankings.

Amish Banker, Chief Operations Officer at ICICI Prudential Life Insurance, attributed the performance to the company’s customer-centric approach and digital infrastructure. The company offers multiple channels for submitting and tracking claims, including a mobile app, WhatsApp, chatbot and website.

The high settlement rate and fast turnaround times reflect the company’s operational efficiency in processing claims. The digital platforms allow claimants to submit and monitor claims without physical visits, streamlining the process during what is typically a difficult time for families.

The company’s emphasis on digitalization has enabled it to reduce processing times while maintaining high settlement ratios, providing life insurance policy beneficiaries with faster financial relief.

Published on December 1, 2025