Max Life Insurance Company Ltd. has announced its highest-ever individual Claims Paid Ratio of 99.51% in FY’23, highlighting customer trust at the most crucial juncture of the insurance relationship. With a deep-rooted commitment to customer-centricity, Max Life continues to deliver on its promise to financially protect 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 ranked amongst the top two best-performing companies on Net Promoter Scores in an industry benchmarking study (Insurance CuES 2023) by Hansa research+and was recognized as one of the Best BFSI Brands by Economic Times in 2022. 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.”
