ICICI Prudential fast tracks claim settlement using technology

Shillong, Mar 22: ICICI Prudential Life Insurance’s claim settlement ratio stood at 97.9% during FY2021 and the company took 1.4 days, on an average, to settle non-investigated death claims by using technology.

For the nine months ended FY2022, the company has settled Rs 982 crore worth of Covid-19 related claims.

To make customer service, including the claims settlement process faster, safer, and more convenient for customers, especially during the pandemic, ICICI Prudential is using digital technologies such as Artificial Intelligence, Machine Learning, Robotic Process Automation and Optical Character Recognition.

Customers can use any of the digital touch-points like WhatsApp, Mobile App, Website, Chatbot LiGo, etc. to initiate and conclude service requests, upload required documents and download premium paid certificates.

Besides, the mobile app developed by the company enables customers to choose the layout of the dashboard for ease of access of top transaction options.

The company offers over 3,00,000 touch-points to make renewal premium payments, covering approximately 95% of the pin-codes in the country.