Page 68 - Life Insurance Today July - December 2020

(Benefit Amount in Rs. crore) Break up of claims pending - duration wise (Policies) Total >12 6 - 12 3-<6 <3 Months months months 19 0 0 1 18 100% 5.26% 0 0 0 0 0 5 0 0 0 5 100% 2 0 0 0 2 100% 2 0 0 0 2 100% 2 0 0 0 2 100% 0 0 0 0 0 38 0 1 5 32 100% 2.63% 13.16% 3 0 0 1 2 100% 33.33% 35 0 4 2 29 100% 11.43% 5.71% 95 0 6 3 86 100% 6.32% 3.16% 5 0 0 0 5 100% 9 4 0 2

STATUS OF INDIVIDUAL DEATH CLAIMS OF LIFE INSURERS (FY 2019-20)

Claims pending at end of the period Benefit No. of months Amount Policies 3.80 19 94.74% 1.02% 0.37% 0.00 0 0.00% 0.78 5 100.00% 0.93% 0.62% 0.65 2 100.00% 0.20% 0.02% 1.15 2 100.00% 1.79% 0.15% 2.00 2 100.00% 1.74% 0.16% 0.00 0 0.00% 9.05 38 84.21% 8.95% 1.10% 0.31 3 66.67% 0.62% 0.26% 17.58 35 82.86% 2.50% 0.28% 43.70 95 90.53% 3.91% 0.83% 1.26 5 100.00% 1.77% 0.35% 2.53 9 33.33% 3.21%

Benefit Amount 0.00 0.00 0.00 0.01 0.00% 0.00 0.00 0.00 0.00 0.00 1.92 0.27% 0.18 0.02% 0.00 0.00 0.00
Claims Unclaimed No. of Policies 0 0 0 1 0.01% 0 0 0 0 0 13 0.10% 0 0 0 0

Benefit Amount 0.00 0.00 0.81 0.97% 0.00 0.00 3.04 2.63% 0.00 0.00 0.00 7.16 1.02% 0.00 0.00 0.00 0.00

Claims rejected No. of Policies 0 0 4 0.49% 0 0 0 0 0 0 15 0.12% 0 0 0 0

Benefit Amount 24.36 6.56% 4.40 6.37% 0.97 1.16% 20.78 6.26% 1.58 2.45% 3.71 3.21% 11.06 33.65% 3.16 3.12% 4.62 9.27% 25.46 3.63% 49.49 4.43% 6.35 8.96% 6.25 7.92% 10.58 5.49%

Claims Repudiated No. of Policies 108 2.09% 7 1.99% 11 1.36% 237 1.95% 33 2.50% 22 1.72% 54 16.56% 26 0.75% 51 4.46% 54 0.43% 153 1.34% 45 3.18% 66 2.95% 112 3.35%

Benefit Amount 342.89 92.41% 64.60 93.63% 80.78 96.94% 310.71 93.55% 61.56 95.75% 106.53 92.42% 21.80 66.35% 88.95 87.94% 44.90 90.10% 650.33 92.58% 1023.64 91.64% 63.27 89.27% 70.17 88.88% 170.14 88.22%
Claims paid No. of Policies 5035 97.54% 344 98.01% 790 97.53% 11887 98.02% 1285 97.35% 1252 98.12% 272 83.44% 3404 98.15% 1089 95.28% 12509 99.07% 11212 97.84% 1366 96.47% 2166 96.65% 3225 96.38%

Benefit Amount 371.05 100% 69.00 100% 83.33 100% 332.15 100% 64.29 100% 115.27 100% 32.86 100% 101.16 100% 49.83 100% 702.45 100% 1117.01 100% 70.88 100% 78.95 100% 192.87 100%

Total Claims No. of Policies 5162 100% 351 100% 810 100% 12127 100% 1320 100% 1276 100% 326 100% 3468 100% 1143 100% 12626 100% 11460 100% 1416 100% 2241 100% 3346 100%

Claims intimated / booked Benefit No. of Amount Policies 361.26 5138 69.00 351 83.03 808 331.82 12124 63.27 1313 114.52 1275 32.86 326 101.16 3468 48.92 1135 692.26 12592 1101.64 11439 69.35 1408 77.41 2232 188.79 3334 Note: First row across each insurer shows the absolute figures whereas second row shows percentage of the respective total claims.

Claims pending at start of the period Benefit No. of Amount Policies 9.79 24 0.00 0 0.30 2 0.33 3 1.02 7 0.75 1 0.00 0 0.00 0 0.91 8 10.19 34 15.37 21 1.53 8 1.55 9 4.08 12

Aditya Birla Sun Life Canara HSBC OBC Edelweiss Tokio Future Generali ICICI Prudential Kotak Mahindra

Insurer Aegon Aviva Bajaj Allianz Bharti Axa Exide Life HDFC IDBI Federal India First

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68 July - December 2020 Life Insurance Today