Pramerica Life Insurance has reported a robust 99.18% individual claims paid ratio for FY24-25, reinforcing its commitment to prompt and empathetic service. This achievement builds on the company’s consistently upward trend in claims performance over the past three years, with ratios of 98% in FY22, 99% in FY23, and 99.06% in FY24.
During FY25, the company settled 722 individual death claims, paying out ₹34 crore towards death benefits. Notably, Pramerica Life maintained an average turnaround time of just 3 days (72 hours) from the receipt of final documents, demonstrating that operational excellence and human empathy can go hand in hand.
Pankaj Gupta, MD and CEO of Pramerica Life Insurance, emphasized that the company’s growth journey has always been anchored in delivering meaningful value to customers. “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 standing by families in their most difficult moments,” he stated.
This performance is supported by various customer-focused initiatives aimed at making the claims experience smoother and more transparent. These include:
- Dedicated Claims Relationship Officers assigned to each claim
- A centralized Claims Helpdesk via phone and email
- Tele-investigations to speed up verification
- Use of digital tools like QR code scanning and online checks
- All payouts made via direct bank transfer
In times of crisis, Pramerica Life takes proactive measures by identifying affected policyholders and settling claims on priority. The company has also introduced ‘Pratigya Kavach’, a dedicated initiative for defence personnel to ensure claim settlement within 3 days.
With this strong performance and growing suite of customer-centric initiatives, Pramerica Life Insurance continues to strengthen its position as a trusted life insurance partner, delivering on its promises and supporting families when they need it most.
