ICICI Prudential Life Insurance has established itself as the top big life insurer in India with a claim settlement ratio of 99.33% for the first half of FY2026. During this time, the company settled death claims totaling ₹893.38 crore.
Key Highlights
- ICICI Prudential Life achieved a 99.33% claim settlement ratio in H1 FY26, reflecting strong policyholder trust.
- The insurer continues improving claim processes, reinforcing its position among India’s most reliable life insurers.
For non-investigated claims, the insurer was able to achieve an average turnaround time of 1.1 days. In H1FY26, the business processed death claims of ₹157.25 crore under its "Claim for Sure" initiative, which guarantees payout of eligible claims within one day of document submission.
The company had previously maintained its top spot in the industry rankings with a claim settlement percentage of 99.60% in Q1FY26.
ICICI Prudential Life Insurance's Chief Operations Officer, Amish Banker, credited the company's customer-focused strategy and digital infrastructure for the success. The company offers numerous channels for claim lodging and tracking, including a mobile app, WhatsApp, chatbot and website.
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The company's operational effectiveness in handling claims is demonstrated by the high settlement ratio and short turnaround times. During what is usually a trying period for families, the digital platforms streamline the process by allowing claimants to file and track claims without having to make in-person visits.
The company's focus on digitization has allowed it to maintain strong settlement rates while cutting processing times, giving life insurance policy policyholders quicker financial relief.
