Bajaj Allianz Life Insurance has achieved a milestone in its claim settlement process, with a 99.29% individual death claim settlement ratio in the fiscal year 2024-2025. The company settled 13,994 individual life insurance claims, disbursing a total of Rs 862.79 crores in claim payouts. This impressive feat demonstrates the company’s commitment to its customers and its ability to deliver on its promises.
The company’s claim settlement process has been streamlined, with 96% of eligible non-investigative claims being settled within one day of being notified. This is made possible by the company’s robust digital platforms and simplified processes, which enable customers to submit and track claims easily across multiple channels. The company’s focus on customer satisfaction is evident in its “Customer First Promise,” which drives every decision it makes.
Bajaj Allianz Life Insurance has also retained its highest issuer rating of AAA (Stable) from CARE Ratings for three consecutive years, reflecting its strong creditworthiness and consistent claims performance. The company’s solvency ratio and assets under management stood at 359% and Rs 1.23 lakh crore, respectively, as of March 31, 2025. These indicators demonstrate the company’s financial strength and stability.
The company’s managing director and CEO, Tarun Chugh, commented on the achievement, stating that the company remains committed to raising the bar even further. By strengthening its internal processes, leveraging new-age technologies, and driving innovation, the company aims to be the trusted partner in helping its customers achieve their life goals.
In addition to its impressive claim settlement ratio, Bajaj Allianz Life Insurance has also declared its highest-ever PAR Bonus of Rs 1,833 crore for over 11 lakh eligible policyholders. This bonus is a testament to the company’s commitment to rewarding its customers for their loyalty and trust.
Overall, Bajaj Allianz Life Insurance’s achievement of a 99.29% claim settlement ratio in FY 2024-2025 demonstrates its dedication to its customers and its position as a leading life insurance company in India. With its robust digital platforms, simplified processes, and commitment to customer satisfaction, the company is well-equipped to continue delivering exceptional service to its customers.