ClaimRatioIndiaCalculate

ICICI Prudential Life Insurance

Est. 2001Mumbailife insurer
CSR 2023-24
97.90%
Good
Complaints FY 2022-23
2.73
per 10K policies
99.4% disposal rate
Source: IRDAI Annual Report 2022-23
A joint venture between ICICI Bank and Prudential plc, this insurer is popular for its iProtect Smart term plan. It offers an online-first buying experience with same-day policy issuance.

Claim settlement ratio history

Financial YearCSR %Claims SettledRatingSource
2023-2497.90%14,892GoodIRDAI Annual Report 2023-24
2022-2397.82%13,921GoodIRDAI Annual Report 2022-23

Strengths

  • +97.90% claim settlement ratio (2023-24)
  • +iProtect Smart is one of the most-bought term plans online
  • +Same-day policy issuance for healthy profiles

Limitations

  • -ULIP products have higher charges than competitors
  • -Customer service response times vary by channel

How to file a claim

Claims filed online or at any branch. Death claim settlement target is within 7 working days post-document submission.

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