Chennai: Max Life Insurance Company Ltd has announced its highest-ever individual Claims Paid Ratio of 99.51% in FY’23. Underlining the ever-increasing customer trust at the most crucial juncture of the insurance relationship, Max Life has surpassed the 99% Claims Paid Ratio for the fourth consecutive year. With a deep-rooted commitment to customer-centricity, Max Life continues to deliver on its promise to financially protect its customers at the ‘moment of truth’, reflecting in its new ‘India Ke Bharose Ka Number’+.
Max Life has deployed predictive analytics-based underwriting models with robust fraud management controls that helped the Company with fast and superior claims management. The Company has also been proactive in providing customers with swifter, frictionless services and superior customer experience. This has enabled Max Life to build long-term trust, enhance customer satisfaction and improve its Net Promoter Scores (NPS). With such digital investments in claims and underwriting over the last five years, Max Life has consistently improved its claims-paid ratio from 98.74% in FY’19 to 99.51% in FY’23.
