365Telugu.com online news,Pune, 11th June 2025: Bajaj Allianz Life Insurance, one of India’s top private life insurers, achieved an impressive individual death Claim Settlement Ratio (CSR) of 99.29% for the financial year 2024-25. During this period, the company settled 13,994 individual life insurance claims, paying out a total of ₹862.79 crore. This achievement highlights Bajaj Allianz Life’s steadfast dedication to supporting its customers and their families when it matters most. By offering a quick, transparent, and reassuring claims process, the insurer ensures that policyholders’ life goals remain on track even in challenging times.
Bajaj Allianz Life continues to enhance its claims process, focusing on transparency, speed, and ease of use. The company actively educates policyholders on the importance of accurate disclosures and regularly updating nominee and contact details to accelerate claim settlements. Impressively, 96% of eligible non-investigative claims were settled within one day of notification. Leveraging strong digital platforms and simplified procedures, customers can submit and track claims seamlessly through multiple channels, providing a smooth overall experience.
Tarun Chugh, MD & CEO of Bajaj Allianz Life Insurance, commented, “Our Customer First Promise drives everything we do. Maintaining a Claim Settlement Ratio above 99% for four consecutive years reflects our unwavering commitment. Claim settlement is the moment our customers rely on us the most, and it is our ultimate test of trust. We will continue to raise the bar by strengthening internal processes, adopting new technologies, and fostering innovation to be the trusted partner in helping customers achieve their life goals.”
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The company has shown consistent improvement in its individual Claim Settlement Ratio over the past four years.
Other key indicators of Bajaj Allianz Life’s financial strength include a Solvency Ratio of 359% and Assets Under Management totaling ₹1.23 lakh crore as of 31 March 2025. Additionally, the company has maintained its AAA (Stable) issuer rating from CARE Ratings for three consecutive years, underscoring its strong creditworthiness and reliable claims performance. Recently, Bajaj Allianz Life declared its highest-ever PAR Bonus of ₹1,833 crore, benefiting over 11 lakh eligible policyholders.