ICICI Prudential Life Insurance CSR
  • CSR of the Company
  • Types of Claims
  • Claim Filing Process
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ICICI Prudential Life Insurance Claim Settlement Ratio

Claim Settlement Ratio (CSR) is the rate of claims that an insurance company settles over a particular period of time. To find out the CSR, divide the total claim payments that the business paid out during that time period by the cumulative number of claims it received.

For instance, if the claim settlement ratio is 90%, that means if an insurance firm received 100 claims out of that it settled 90 of them.

An insurance company with a high claim settlement ratio has a proven track record of resolving claims and upholding its contractual duties to policyholders. It is typically regarded as a reliable sign of the firm's dependability and financial security.

ICICI Prudential Claim Settlement Ratio

ICICI Prudential Life Insurance is a leading life insurance company that offers a wide range of life insurance products to cater to the varied needs of customers. It has a strong presence in the Indian insurance market with a wide network of branches and advisors.

ICICI Prudential Life Insurance Claim Settlement Ratio (CSR) represents the percentage of claims settled by the insurer out of the total number of claims received in a financial year. As per the IRDAI's (Insurance Regulatory and Development Authority of India) annual report for the financial year 2021-22, ICICI Prudential claim settlement ratio is 97.82%.

Types Of Life Insurance Claims

Life insurance claims can be widely categorised into two:

Death Claims

When a policyholder passes away during the policy's tenure, death claims are paid. The sum is paid to the nominee of the policyholder by the life insurance firm. Most death claims are paid as a lump sum or as regular income, depending on the option selected when the insurance was purchased.

Maturity Claims

In accordance with the policy component and request you made, you will receive a certain amount upon surviving the policy period either as a lump sum or as regular income. Additionally, depending on the type of your policy, the quantity paid at maturity may be fixed or market-linked.

Other Life Insurance Claim Settlement Ratio

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

Types Of ICICI Life Insurance Claim Settlement Ratio Process

There are various ways by which a policyholder or the nominee of the policyholder can apply for their claims. They can choose to have their claims resolved offline or online, according to their ease. The following are the ways by which an insured can apply for a claim:

  • Online claims
  • Telephonic claim
  • Offline claim
  • Claim through SMS or E-mail

ICICI Pru Life Insurance Claim Settlement Process

Step 1: The first and foremost step is to report the claim. The policyholder or the nominee can report the claim using any of the mentioned processes as per their convenience.

  • Submit the Online claims
  • Telephonic claim (Call ClaimCare team)
  • Offline claim (Visit the nearest branch)
  • Claim through SMS or E-mail

Step 2: Once the ClaimCare team receives the claim, they carefully examine the details of the claim and assist the claimant personally at each stage. The team may also ask for certain additional documents if needed for the examination of the claim.

Step 3: The company approves and decides on the claim after carefully going over all the claim-related documents. The nominee or the policyholder is informed of the claim payout immediately as the claim is approved.

Life Insurance Articles

ICICI Pru Life Claim Settlement: FAQs

1. What is ICICI life insurance claim settlement ratio for the financial year 2021-22?

The claim settlement of ICICI life insurance for the year 2021-2022 is 97.82%.

2. What are the types of claims settlement processes offered by ICICI life insurance?

There are various types of claims settlement processes offered by ICICI life insurance, they are - online claims, telephonic claim, offline claim and claim through SMS or E-mail

What Our Customers Have to Say

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Kalpana Gupta


February 10, 2022

It is one of the best companies as they explained the benefits of the term insurance then suggested me the best suitable plan as per my needs. I am happy to be associated with this company.

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Dinesh Chopra


November 22, 2021

Amazing life insurance plans at very cheap prices. sales team is also very good. they explained the plan to me very well. I am very impressed.

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Shreya Sharma


October 5, 2021

Just got my claims settled. Thank god my husban chose ICICI term plan who understand how important the hassle-free claim is a blessing at this point when you have lost your everything. Thankyou...

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Anshuman Dami


September 13, 2021

bought a term plan from icici pru after carefully considereing that covid like situation is imminent. my fam needed protection financially and now they have it

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September 13, 2021

will be foreever grateful to policyx for helping me settle the claim...really needed all the support in this time

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Ishan Khatri


September 9, 2021

went to get the death benefits after my husband s recent death...support staff was very nice and helped fasten the process

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Rohan Kumar


June 18, 2021

Thanks to policyx. I called them to compare plans and I get a good guidance about ICICI Pru. This plan helped me a lot in my crisis

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Umang Singh


May 24, 2021

I purcharsed iProtect Smart policy from ICICI a year ago and am really satistfied with this one. Policy provides gives many benefits and i have also suggested this policy to my other family me...

Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.