Bajaj Allianz Life Achieves 99.29% Claim Settlement Ratio in FY 2024-25
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Chandigarh: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, achieved an individual death Claim Settlement Ratio (CSR) of 99.29% in FY 2024–25. During the year, the Company settled 13,994 individual life insurance claims, disbursing ₹ 862.79 crores in claim payouts. This milestone underscores Bajaj Allianz Life’s continued commitment to being there for its customers’ families when it matters the most. By ensuring a swift, transparent, and reassuring claims experience, the Company helps policyholders’ Life Goals stay on track—even in the most difficult times.
Bajaj Allianz Life continues to strengthen its claims process to make it more transparent, faster, and easier to navigate. It regularly educates customers on the importance of accurate disclosures, updating nominee details and contact information, all of which help speed up claim processing. The Company settled 96%# of eligible non-investigative claims within one day of being notified. With strong digital platforms and simplified processes, customers can submit and track claims easily across multiple channels, ensuring a seamless experience.
Commenting on the achievement, Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, “At Bajaj Allianz Life, our Customer First Promise drives every decision we make, and a consistently rising Claim Settlement Ratio of over 99% for the last four years is a testament to that commitment. Claim settlement is when our customers need us the most and it is the ultimate moment of truth for us. We remain committed to raising the bar even further. By continuously strengthening our internal processes, leveraging new-age technologies, and driving innovation, we aim to be the trusted partner in helping our customers achieve their Life Goals”.
The Company has consistently recorded growth in its individual Claim Settlement Ratio over the last four years:
Other key indicators of a life insurer’s strength include parameters like the Solvency Ratio and Assets Under Management. For Bajaj Allianz Life, these stood at 359% and ₹1.23 lakh crore, respectively, as of 31st March 2025. The Company has also retained its highest issuer rating of AAA (Stable) from CARE Ratings for three consecutive years, reflecting their opinion on its strong creditworthiness and consistent claims performance. Recently, the Company declared its highest-ever PAR Bonus of ₹1,833 crore for over 11 lakh eligible policyholders.
