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Max Life achieves Claims Settlement Ratio of 99.34 percent in FY22: IRDAI Annual Report 2021-2022
Max Life Insurance Co. Ltd ("Max Life"/ "Company"), has announced that it disbursed 30,830 death claims worth INR 2,009 crore in the financial year 2021-22, attaining an individual death claims paid ratio of 99.34%. With this, Max Life has surpassed the coveted 99% benchmark for three consecutive financial years. Max Life has deployed predictive analytics-based underwriting models and robust fraud...
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“Max Life achieves Claims Settlement Ratio of 99.34 percent in FY22: IRDAI Annual Report 2021-2022”
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12 Jan 2023
Max Life Insurance Co. Ltd ("Max Life"/ "Company"), has announced that it disbursed 30,830 death claims worth INR 2,009 crore in the financial year 2021-22, attaining an individual death claims paid ratio of 99.34%. With this, Max Life has surpassed the coveted 99% benchmark for three consecutive financial years.
Max Life has deployed predictive analytics-based underwriting models and robust fraud management, strengthened by digitized forensic controls, to ensure a seamless claims settlement process for its customers. With this, over the last five years, Max Life has consistently improved its claims paid ratio from 98.26%1 in FY'18 to 99.34% in FY'22.
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