ICICI Prudential Life reports ₹15 lakh average death claim in FY26

ICICI Prudential Life Insurance reported an average individual death claim of ₹15 lakh for families during fiscal year 2026. This marks an increase from the approximately ₹10 lakh average recorded in fiscal year 2021.

During the 2026 fiscal year, the company settled death claims totaling ₹5,149 crore. The firm maintained a claim settlement ratio of 99.3 percent. For individual claims that did not require company-level investigation, the average settlement time was 1.1 days from the date the final documents were received.

Sarang Gokhale, Head of Underwriting and Retail Claims at ICICI Prudential Life Insurance, stated that the company is focused on simplifying claim processes through technology-based services to provide timely financial security to families.