ClaimRatioIndiaCalculate

Kotak Mahindra Life Insurance

Est. 2001Mumbailife insurer
CSR 2023-24
98.82%
Good
Complaints FY 2022-23
2.28
per 10K policies
99.5% disposal rate
Source: IRDAI Annual Report 2022-23
Kotak Life is a wholly owned subsidiary of Kotak Mahindra Bank. Its e-Term plan is among the most-purchased online term plans for age groups 25-35.

Claim settlement ratio history

Financial YearCSR %Claims SettledRatingSource
2023-2498.82%9,821GoodIRDAI Annual Report 2023-24
2022-2398.61%9,234GoodIRDAI Annual Report 2022-23

Strengths

  • +98.82% claim settlement ratio (2023-24)
  • +Competitive online premiums for young buyers
  • +Bank integration makes premium payment easy

Limitations

  • -Cover options beyond basic term are limited online
  • -Renewal process can be manual for offline-bought policies

How to file a claim

Online and branch claim submission. WhatsApp-based claim notification available post-submission.

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