Death claims worth ₹2060 crore settled; 99% processed within a day
HDFC Life has reported a record individual death claim settlement ratio of 99.68% for the financial year 2024–25. The insurer settled 19,666 death claims, disbursing ₹2060 crore to beneficiaries.
The company also ensured that 99% of non-investigative claims were paid within one working day of receiving all required documents — underlining its commitment to speed and customer convenience.
Claims paid fast, hassle-free
The company continues to promote customer-centric processes to simplify claim settlements. For instance, families can now submit death claim requests online, reducing the need to visit branches. Walk-in claimants are also provided priority assistance to ensure faster turnaround.
HDFC Life has also increased awareness among policyholders on critical areas such as:
- Honest health and lifestyle disclosure.
- Keeping nominee details up to date.
- Notifying the insurer in case of contact/address changes.
Performance over the years
HDFC Life has shown consistent improvement in its individual life insurance claim settlement ratio:
- FY22: 98.66%
- FY23: 99.39%
- FY24: 99.50%
- FY25: 99.68%
This trend highlights the company’s effort to enhance its backend processes and digital capabilities.
Industry outlook
Commenting on the achievement, HDFC Life’s COO stated that claim settlement is the core promise of life insurance. He also stressed the need for process improvement across the industry to meet the ‘Insurance for All by 2047’ vision.
Why claim settlement ratio matters
The claim settlement ratio (CSR) is a key metric for life insurance buyers. It reflects how many claims an insurer has honoured versus the number received. A high CSR like HDFC Life’s assures policyholders that their loved ones will receive timely support.
