ICICI Prudential Life Insurance reported a 99.31 per cent claim settlement ratio in Q1FY27, settling individual death claims worth ₹414.08 crore.
Private sector insurer ICICI Prudential Life Insurance has reported a claim settlement ratio of 99.31 per cent for the first quarter of this fiscal year, the highest among top life insurance companies in India.
During Q1FY27, the company settled individual death claims amounting to ₹414.08 crore. Notably, its average value per claim was around ₹15 lakh, the highest among the leading life insurers for the first quarter of the current financial year, according to a statement.
Sarang Gokhale, Chief – Underwriting and Retail Claims, ICICI Prudential Life Insurance, said, “We are committed to making the claims process simple, seamless and timely for our customers and their families. In Q1FY27, our claim settlement ratio was highest in the industry at 99.31 per cent and our average claim settlement turnaround time for non-investigated claims was just 1 day from the last document received date. Besides, we settled ₹414.08 crore in death claims.”
The life insurer said its customer-first approach and strong focus on digitalisation have empowered it to settle claims quickly and provide timely financial relief when families need it most.
“Under our ‘Claim for Sure’ initiative, we paid around ₹75 crore within one day for eligible claims. We continue to strengthen our digital processes, so families receive timely support when it matters most,” Gokhale added.
Published on September 16, 2026
