PNB MetLife Strengthens Claim Settlement with 99.2% Ratio

PNB MetLife, one of India's leading life insurance companies, has achieved a claim settlement ratio of 99.2% for individual claims in FY2024, up from 99.06% the previous year. This achievement underscores PNB MetLife's unwavering commitment and focus on customers’ financial security and care.

This financial year, PNB MetLife paid 5679 claims totaling Rs 462.20 crore, delivering on its promise to policyholders and their families with prompt and efficient support in their moment of need. In the last five years, PNB MetLife has paid Rs 2,106.03 crore towards individual claims on 28,737 life policies, solidifying its position as a trusted provider of financial protection solutions.

Sameer Bansal, MD & CEO of PNB MetLife, stated, “At PNB MetLife, we know how important insurance is to our customers’ financial security and peace of mind. And that’s why we have made it easy for them to sign up online, manage policies with our customer service app- khUshi, and get claims decided in three hours. Our 99.2% claim settlement ratio is a result of our relentless dedication to customer satisfaction and operational excellence.”

PNB MetLife has invested significantly in digital resources and automation to streamline the claims process, reducing turnaround times so claims are processed swiftly and efficiently, and enhancing overall customer experience.