Max Life Insurance Company Ltd. (“Max Life” / “Company”) 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 and fraud management controls to improve claims management and customer experience.
This has enabled them to build long-term trust, enhance customer satisfaction, and improve their Net Promoter Scores. Over the last five years, their claims-paid ratio has improved from 98.74% to 99.51%. Max Life was recognized as one of the Best BFSI Brands by Economic Times in 2022 for its Net Promoter Scores. Prashant Tripathy, MD & CEO, Max Life said, “We believe that our claims paid ratio is a reflection of fulfilling the trust that our customers place in us, and we will continue to raise the bar higher.”
