Pramerica Life Insurance Sets New Standard with 99.18% Claim Settlement Rate
Life Insurance – Pramerica Life Insurance has announced a stellar 99.18% claim settlement ratio for FY24–25, marking its strongest performance yet in providing dependable and empathetic life insurance support to Indian families.
This accomplishment reflects a three-year upward trend in claims efficiency:
- 98% in FY22
- 99% in FY23
- 99.06% in FY24
- 99.18% in FY25
In the last year alone, the insurer settled 722 individual death claims, disbursing over ₹34 crore. The average claim was processed within just 3 days, demonstrating their commitment to both operational excellence and emotional support.
Customer-Centric Innovations Driving Results
Pankaj Gupta, MD & CEO of Pramerica Life Insurance, stated:
“A high claim settlement ratio is not just about numbers. It’s about standing by our customers in life’s toughest moments. Our goal is simple—make life insurance meaningful, compassionate, and fast.”
Key customer-first steps that helped deliver this performance:
- Dedicated Claims Officers – Personalized assistance throughout the process.
- Central Claims Helpdesk – Handles queries from both families and distributors.
- Tele-Investigations – Faster verification for quicker claim approval.
- Digital Integrations – QR codes, CIBIL & IIB checks ensure accuracy.
- Direct Bank Transfers – Secure and timely payouts.
Support During Crises
In emergencies—like pandemics, natural disasters, or terror incidents—the insurer activates special help desks and identifies impacted policyholders proactively, ensuring timely support.
Defence-First Promise: Pratigya Kavach
Their unique ‘Pratigya Kavach’ initiative guarantees claim settlement for defence personnel within 3 days, providing extra assurance to those serving the nation.
Why It Matters
This consistent performance and innovation underline why life insurance is more than just a policy—it’s a promise. Pramerica continues to lead with compassion, technology, and trust.
Also Read : Bitcoin Falls Below $100K as US–Iran Tensions Rattle Markets
