<p>Mumbai: In what is an industry-leading claim settlement ratio, the ICICI Prudential Life Insurance has declared a ratio of 99.60% for Q1-FY2026.<br>In a press statement, 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 Rs 406.89 crore in Q1-FY2026."<br>According to him, leveraging data analytics along with AI and ML based technologies is enabling the insurer to quickly and efficiently process claims.</p>.Health, life insurance premium may be exempted from GST.<p>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 Rs 74.72 crore under this initiative.<br>The company’s digital enablers are helping claimants to lodge and track claims seamlessly which includes options for Digital Claim Submission and Realtime claim tracking.<br>The company also leverages 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, the statement added.</p>
<p>Mumbai: In what is an industry-leading claim settlement ratio, the ICICI Prudential Life Insurance has declared a ratio of 99.60% for Q1-FY2026.<br>In a press statement, 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 Rs 406.89 crore in Q1-FY2026."<br>According to him, leveraging data analytics along with AI and ML based technologies is enabling the insurer to quickly and efficiently process claims.</p>.Health, life insurance premium may be exempted from GST.<p>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 Rs 74.72 crore under this initiative.<br>The company’s digital enablers are helping claimants to lodge and track claims seamlessly which includes options for Digital Claim Submission and Realtime claim tracking.<br>The company also leverages 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, the statement added.</p>