ICICI Prudential Life reports Claim Settlement Ratio of 99.6% in Q1

ICICI Prudential Life Insurance has declared claim settlement ratio of 99.60% for first quarter of financial year 2026.-27

Amish Banker, Chief Operations Officer, ICICI Prudential Life Insurance said, “Claims are where promises meet reality. Every claim is handled with utmost sensitivity and processed quickly.”

“The company settled death claims totalling ₹406.89 crore in Q1FY26. Leveraging data analytics along with AI and ML based technologies is enabling us to quickly and efficiently process claims,” he added.

Under the ‘Claim for Sure’ service initiative, the company promises to settle all eligible claims within one day after receiving all documents. In Q1FY26, it has settled claims totaling ₹74.72 crore under this initiative, a statement from the company said.

The company said it leveraged digital public infrastructure for the purpose of claim processing and decision making which has helped settle non-investigated death claims with an average turnaround time of 1.1 days from the time the last document was received.