What is ICICI Pru Life claim settlement ratio?

ICICI Prudential Life Insurance's claim settlement ratio is 97.90% for FY 2023-24, sourced from IRDAI annual reports.

Is ICICI Pru Life reliable for claim settlement?

Yes. ICICI Prudential Life Insurance has a 97.90% CSR (FY 2023-24), well above the industry average of ~90%.

How to file a claim with ICICI Pru Life?

To file a claim with ICICI Prudential Life Insurance: (1) Notify the insurer within the stipulated time frame, (2) Submit claim form with required documents, (3) The insurer must settle within 30 days per IRDAI guidelines. Contact the insurer's toll-free number or visit their branch for assistance.

ClaimRatioβCompare Insurers

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Life Insurance · IRDAI Data

ICICI Prudential Life Insurance

A joint venture between ICICI Bank and Prudential plc, this insurer is popular for its iProtect Smart term plan. It offers an online-first buying experience with same-day policy issuance.

LIFECSR 97.90% · FY2023-24Mumbai

CSR FY2023-24

97.9%

14,892 settled

CSR History

Year	CSR %	Claims Settled	Source
FY2023-24 LATEST	97.90%	14,892	IRDAI Annual Report 2023-24
FY2022-23	97.82%	13,921	IRDAI Annual Report 2022-23

Pros & Cons

Pros

✓97.90% claim settlement ratio (2023-24)
✓iProtect Smart is one of the most-bought term plans online
✓Same-day policy issuance for healthy profiles

Cons

✕ULIP products have higher charges than competitors
✕Customer service response times vary by channel

Complaint Data

Complaints / 10K

2.73

FY2022-23

Grievance Disposal

99.4%

How does ICICI Pru Life compare?

Side-by-side CSR, complaints, and grievance data.

Compare ICICI Pru Life →