Claims settlement ratio at 99.25{bce2ac57dae147ae13b811f47f24d80c66c6ab504b39dda4a9b6e8ac93725942} in FY21: Digital insurer Aegon Life

Digital life insurer Aegon Life on Tuesday mentioned it has achieved a loss of life declare settlement ratio of 99.25 per cent in FY21.

Aegon Life Insurance coverage has settled 398 particular person loss of life claims aggregating to Rs 105.98 crore throughout the monetary 12 months 2020-21. This interprets right into a claims settlement ratio of 99.25, it mentioned in a launch.

“Settling a loss of life declare is a second of reality for all times insurance coverage clients. This achievement is an illustration of our clients’ religion in us.

“This pandemic has hit India laborious, and we have processed extra loss of life claims within the final monetary 12 months than another in our 13 years of existence,” mentioned Satishwar Balakrishnan, MD, and CEO, Aegon Life Insurance coverage.

The insurer mentioned it has continued to assist and speed up claims settlement by digitisation and course of enchancment initiatives.

“To ship a superior buyer expertise, we’re consistently enhancing our underwriting practices and making investments in expertise to simplify life insurance coverage for our clients,” Satishwar mentioned.

Over the previous few years, Aegon Life has strengthened its digital servicing initiatives by specializing in handy instruments akin to iAssist that permits the shoppers to transact digitally, it mentioned.

It has additionally launched AI-driven chatbot Assistant ‘ALIA’ on its web site. Clients also can use Fb and WhatsApp chatbots for any help on their insurance policies.

(Solely the headline and film of this report might have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)

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