March 29, 2024 05:47 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge | Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63 | NIA arrests key conspirator in Bengaluru cafe blast case | Actor Govinda returns to politics after 14 years of 'vanvas', joins Eknath Shinde camp | 'To browbeat and bully others is vintage Congress culture': PM posts after 600 lawyers write to CJI
ICICI Prudential Life to settle death claims in 1 day

ICICI Prudential Life to settle death claims in 1 day

India Blooms News Service | @indiablooms | 17 Feb 2020, 03:05 pm

Mumbai/UNI: ICICI Prudential Life Insurance Company’s service initiative titled – ‘Claim For Sure’ promises to settle death claims in 1 (one) day, a statement said here on Monday.

With the ‘Claim For Sure’ service initiative, the Company aims to alleviate the financial distress caused to families due to this loss.

"Policies which have been continuously active for three years, do not require any investigation and where the total claim amount does not exceed ` 1.5 crore qualify for settlement under this service initiative. Claimants are required to submit all mandatory documents to avail of this fast track claim settlement process," said Puneet Nanda, Deputy Managing Director, ICICI Prudential Life Insurance.

The Company has received ~65% of death claims under Claim For Sure, 99.4% of these have been settled in 1 (one) day since the launch of this initiative in July 2019. For the 9 months ended FY2020 the average turn-around-time (TAT) to settle a death claim stood at 1.67 days. For FY2019, the Company had a claim settlement ratio of 98.6% and the total value of death claims settled across the country stood at ` 826.66 crore with an average TAT of 2.34 days.

 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.