Edelweiss Life Insurance, based in Mumbai, Maharashtra, India, has announced its highest-ever Claim Settlement Ratio of 99.29% for the fiscal year 2025. This ratio measures the percentage of death claims paid out compared to the total number of claims received, serving as a key indicator of an insurer’s reliability and commitment to its policyholders. The company’s Managing Director and CEO, Sumit Rai, stated that the moment of truth for Edelweiss Life Insurance is when families need them most, and they have continuously refined their processes and simplified claim procedures to provide compassionate guidance during difficult times.
Over the past five years, Edelweiss Life Insurance has focused on improving its claims performance by leveraging advanced technology integration, streamlining back-end processes, providing empathetic customer service, and ensuring transparent communication and settlement. The company has used multiple data models and technologies to process genuine claims swiftly while implementing controls to ensure a smooth settlement process. They have also made continuous improvements in underwriting and advisory systems, reducing the overall turnaround time for claims without inconveniencing claimants.
Edelweiss Life Insurance has prioritized empathetic customer service, providing clear guidance to help claimants submit complete documentation efficiently and reflecting sensitivity and understanding during difficult periods. The company keeps families informed at every step of the claims process, ensuring that claims are settled as quickly as possible. This commitment to incremental improvement has enabled Edelweiss Life Insurance to maintain claim settlement ratios above 99% for three consecutive years.
The achievement of a 99.29% Claim Settlement Ratio is a significant milestone for Edelweiss Life Insurance, demonstrating the company’s reliability and commitment to its policyholders. The company’s focus on refining its processes, simplifying claim procedures, and providing compassionate guidance has enabled it to maintain high claim settlement ratios over the years. This dedication to incremental improvement has earned Edelweiss Life Insurance a reputation as a reliable and trustworthy insurer in the industry.