Live Breaking News & Updates on Ax Life Has Surpassed The Coveted 99 Per Cent Benchmark For Three Consecutive Financial Years Max Deployed Predictive Analytics Based Underwriting Models And Robust Fraud Management

New Delhi [India], January 12 (ANI/NewsVoir): Max Life Insurance Co Ltd has announced that it disbursed 30,830 death claims worth INR 2,009 crore in the financial year 2021-22, attaining an individual death claims paid ratio of 99.34 per cent. With this, Max Life has surpassed the coveted 99 per cent benchmark for three consecutive financial years. Max Life has deployed predictive analytics-based underwriting models and robust fraud management, strengthened by digitized forensic controls, to ensure a seamless claims settlement process for its customers. With this, over the last five years, Max Life has consistently improved its claims paid ratio from 98.26 per cent 1 in FY'18 to 99.34 per cent in FY'22. Prashant Tripathy, MD & CEO, Max Life said, "The moment of truth for any life insurer comes at the time of 'claims settlement' - the most crucial juncture of the insurer-customer relationship. By achieving a claims settlement ratio of 99.34 per cent and surpassi ....

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