Coimbatore: ICICI Prudential Life Insurance has said its claim settlement ratio stood at 97.9 per cent during FY2021 and the company took 1.4 days, on an average, to settle non-investigated death claims.
For the nine months-ended FY2022, the company said it 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, the company is using digital technologies such as Artificial Intelligence (AI), Machine Learning, Robotic Process Automation (RPA) and Optical Character Recognition (OCR).Technologies such as RPA and OCR are also being used for underwriting, claims assessment, selling or renewing policies, and customised offers,’ it stated.