Before zeroing down on any Term Insurance plan, it is essential for you to have a thorough knowledge of the company's performance in the past. One prominent factor that will help you majorly in evaluating the company's performance is its Claim Settlement Ratio (CSR). The CSR of the company speaks about the company's ability to settle claims for its customers in a given financial year. It is important to have a good CSR ratio as an insurance provider as it denotes how trustworthy the insurance company is towards its customers.
Through this article, we will throw some light on what is a CSR, its importance and the ICICI Term Insurance claim settlement ratio.
A claim settlement ratio also known as (CSR), is the percentage of total claims that an insurance company settles in a year. It denotes how seriously a health company takes the claims of its customers. The greater the ratio, the more dependable the insurance company is in general.
As per the IRDAI annual report for the year 2020-21, the ICICI Pru Life claim settlement ratio is 97.90. Out of 1,79,098 claims raised, the company reportedly settled 1,75,387 claims with a benefit amount of INR 941.35 Cr.
On the official website of the Insurance Regulatory and Development Authority of India (IRDAI), you can easily locate and check the ICICI Term plan claim settlement ratio. To make the task of checking the ICICI Term insurance claim settlement ratio easier and evaluate the company's claim settling performance, take a look at the below given graph.
ICICI Prudential Life Insurance Claim Settlement Ratio
The policyholders can raise a claim for their policy in the following four ways:
We've created a step-by-step approach for making a claim with the firm online for your convenience. Check it out below.
The company will investigate the claim and, after the appropriate documentation has been received, will make a decision within 12 days. Payment will be paid to the bank account number provided.
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(Showing latest 5 reviews only)
February 10, 2022
Kalpana Gupta
HyderabadNovember 22, 2021
Dinesh Chopra
DelhiAmazing 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.
October 5, 2021
Shreya Sharma
DelhiJust 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 ICICI for supporting me
September 13, 2021
Anshuman Dami
Bhopalbought 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
September 13, 2021
Vasundhara
Chandigarhwill be foreever grateful to policyx for helping me settle the claim...really needed all the support in this time
Last updated on May, 2022
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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.