Gurugram,
26 June 2025 : Pramerica Life Insurance,
one of India’s fastest growing life insurers, has reported a robust 99.18%
individual claims paid ratio for FY24-25, reinforcing its commitment to
prompt and empathetic service at life’s most critical moments. This milestone
builds on a consistently upward trend in claims performance over
the past three years - 98% in FY22, 99% in FY23, 99.06% in FY24, and
now 99.18% in FY25 - reflecting the company’s focus on customer-first
delivery.
During the
financial year, the company settled 722 individual death claims,
paying out ₹34 crore towards death benefits. Maintaining
an average turnaround time of just 3 days (72 hours) from the
receipt of final documents, Pramerica Life has demonstrated that operational
excellence and human empathy can go hand in hand.
Speaking on
this, Pankaj Gupta, MD and CEO, Pramerica Life Insurance said, “At
Pramerica Life Insurance, our growth journey has always been anchored in
delivering meaningful value to our customers - and nothing defines that more
than a claim settled with care and speed. Our 99.18% claims paid ratio is not
just a performance metric, it’s a reflection of the trust we’ve earned and our
commitment to stand by families in their most difficult moments. As we scale
and grow, this commitment to compassion, integrity and service excellence
remains at the heart of our brand purpose.”
This performance is supported
by a range of customer-focused initiatives aimed at making the claims
experience smoother and more transparent:
- Dedicated
Claims Relationship Officers are assigned to each claim, ensuring
handholding through the process.
- A centralised
Claims Helpdesk via phone and email handles queries from both
claimants and distributors.
- Tele-investigations have
been introduced to speed up verification and reduce delays.
- Use
of digital tools like QR code scanning, online checks,
and integrations with CIBIL and IIB enhances the accuracy and speed of
processing.
- All
payouts are made via direct bank transfer, ensuring timely and
secure disbursement.
In times of crisis - including
natural calamities, terrorist incidents, or pandemics - Pramerica Life takes
proactive measures by identifying affected policyholders and settling claims on
priority. Special Claim Help Desks are activated in such
scenarios and details are disseminated via press notes, the company website,
and social media for easy access.
Further reinforcing commitment,
the company has ‘Pratigya Kavach’, a dedicated initiative for
defence personnel to ensure claim settlement within 3 days,
offering additional assurance and peace of mind to the segment and their
families.
With this strong performance
and a growing suite of customer-centric initiatives, Pramerica Life
Insurance continues to strengthen its position as a trusted life insurance
partner, one that delivers on its promises and supports families when they
need it most.