Why Should You Consider Claims Paid Ratio?

Claim Settlement Ratio (CSR) or Claim Paid Ratio (CPR) is a definitive metric of an insurer's commitment to timely insurance claim settlements. The CSR helps you analyse how efficient the insurer is in ensuring your family has everything to carry their lives forward in your absence.

Claim paid Ratio indicates the percentage of claims paid out within a financial year. In other words, the claim paid ratio indicates how often the insurer has kept its promise.

Axis Max Life has a high claim settlement ratio of 99.65% in the financial year 2023-24, indicating it has fulfilled 99.65% of the claim requests received.

Axis Max Life's Claim Settlement Ratio also indicates it has a streamlined and robust claim settlement process in place.

The primary purpose of a life insurance plan, especially term insurance, is to provide financial support to your family in your absence.

When you purchase a term plan or any other insurance product from an insurer with a high claim settlement ratio:

• You can be sure that the entire experience of claim filing to disbursement will be simple, convenient, and transparent
• In case of an unexpected mishap, your loved ones will have the assurance of a quick disbursal of the life insurance benefit

A high claims paid ratio indicates the insurer’s commitment to its policyholders and that the insurer has a reliable risk management system in place to handle claims. This gives you greater confidence that your claim will be successful when you need to make one.

With a high claim settlement ratio of 99.65% (Source - Individual Death Claim Paid Ratio as per Audited Financials for FY 2023-2024), Axis Max Life Insurance ranks among the list of insurers with the highest claim settlement ratio.

Axis Max Life Insurance has made significant efforts to improve the claim settlement process and experience for our policyholders over the last five years.

Below is the table that depicts the CSR of Axis Max Life over the last five financial years as reported by IRDAI, Public Disclosures, and Annual Audited Financials.

The latest claim paid ratio (claim settlement ratio) for Axis Max Life Insurance is 99.65%^## for FY 2023-24.

^{^} IRDAI Annual report FY’19-20, FY’20-21, FY’21-22, and FY'22-23

^## Individual Death Claim Paid Ratio as per Audited Financials for FY 2023-2024

Axis Max Life Insurance's claim paid process includes the following features:

When buying term insurance, it's important to understand the claim settlement ratio. This metric helps you choose an insurer that is reliable and trustworthy. Term insurance is the most cost-effective way to provide financial security for your family, and the peace of mind that comes from knowing your insurer has a good claim settlement ratio means your family will be taken care of in case something happens to you.

At Axis Max Life Insurance, the claim paid ratio or claim settlement ratio means being #IndiaKeBharoseKaNumber - ensuring a seamless and hassle-free insurance benefit disbursement to your family. We have exceeded all expectations of the last 5 years by achieving the latest claim settlement ratio or claim paid ratio of 99.65%* for FY 2023-24. At Axis Max Life, your claim settlement will be quick and definitive.

*Source - Individual Death Claim Paid Ratio as per Audited Financials for FY 2023-2024