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ICICI Prudential Life Reports Highest Q1FY27 Claim Settlement Ratio
ICICI Prudential Life Insurance said it settled 99.31% of claims in Q1FY27.
The company said this was the highest rate among India’s leading life insurers.
It paid ₹414.08 crore in individual death claims.
Each claim was worth about ₹15 lakh on average.
For claims that did not need an investigation, the company said it usually took one day after receiving the last document.
Under its “Claim for Sure” program, about ₹75 crore was paid within one day.
The insurer said digital tools helped speed up the process.
This is intended to provide financial support to families more quickly.
ICICI Prudential Life Insurance reported a 99.31% claim settlement ratio in Q1FY27.
The insurer settled individual death claims totaling ₹414.08 crore during the quarter.
Its average claim value was approximately ₹15 lakh, reportedly the highest among leading life insurers.
Average turnaround time for non-investigated claims was one day from receipt of the last document.
The insurer paid around ₹75 crore within one day under its “Claim for Sure” initiative.
- Who
- ICICI Prudential Life Insurance; Sarang Gokhale, its Chief of Underwriting and Retail Claims.
- What
- The insurer reported a 99.31% claim settlement ratio and ₹414.08 crore in settled individual death claims for Q1FY27.
- Where
- India.
- When
- Q1FY27; the report was published on September 16, 2026.
- Why
- The company said its customer-first approach and digitalisation focus are intended to make claims simpler, faster and more timely for families.
Key facts
- Claim settlement ratio
- 99.31% in Q1FY27
- Individual death claims settled
- ₹414.08 crore
- Average claim value
- Approximately ₹15 lakh
- Non-investigated claim turnaround
- One day from receipt of the last document
- “Claim for Sure” payments
- Around ₹75 crore paid within one day for eligible claims
- Industry comparison
- The company said its ratio was the highest among leading life insurers in India
Quotes
Sarang Gokhale
Chief - Underwriting and Retail Claims at ICICI Prudential Life Insurance
“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.”
thehindubusinessline.com
“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.”
thehindubusinessline.com
Sources
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