Page 70 - Life Insurance Today July - December 2020
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(Benefit Amount in Rs. crore) Break up of claims pending - duration wise (Policies) Total >12 6 - 12 3-<6 <3 Months months months 5 0 1 0 4 100% 20.00% 0 0 0 0 0 0 0 0 0 0 136 0 0 0 136 100% 4 0 0 0 4 100% 1 0 0 0 1 100% 0 0 0 0 0 0 0 0 0 0 3 1 0 2 0 1163 4 45 107 4830 21 278 400 100% 0.43% 5.76% 8.28% 2 0 0 0 2 100% 0 0 0 0 0 162 0 13 16 133 100% 8.02% 9.88%
STATUS OF GROUP DEATH CLAIMS OF LIFE INSURERS (FY 2019-20)
Claims pending at end of the period Benefit No. of months Amount Policies 1.81 5 80.00% 0.76% 0.05% 0.00 0 0.00 0 0.00% 3.16 136 100.00% 0.35% 0.08% 0.43 4 100.00% 1.01% 0.97% 0.02 1 100.00% 0.02% 0.03% 0.00 0 0.00% 0.00 0 0.00% 0.22 4 100% 1007 32.61 1163 100% 0.34% 3.87% 4131 37.85 4830 85.53% 6.61% 4.80% 0.37 2 100.00% 2.25% 0.21% 0.00 0 0.00% 7.93 162 82.10% 1.20% 0.22%
Benefit Amount 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 0.00 0.00 0.00 33.33% 0.00 9.20% 0.01 0.00% 0.00 0.00 0.00
Claims Unclaimed No. of Policies 0 0 0 1 0.00% 0 0 0 0 0 66.67% 0 86.59% 0 0 0 0
Benefit Amount 0.00 0.00 0.00 0.04% 0.02 0.00% 0.00 1.10 1.20% 0.00 0.00 0.00 0.21% 0.00 2.05% 0.85 0.15% 0.00 0.00 0.00
Claims rejected No. of Policies 0 0 1 0.13% 8 0.00% 0 0 0 0 0 0.27% 0 0.44% 8 0.01% 0 0 0
Benefit Amount 1.47 0.62% 0.00 0.16 1.11% 9.25 1.01% 1.27 3.01% 2.94 3.22% 1.83 4.07% 0.00 5.57 5.35% 43.28 2.72% 4.44 0.78% 2.20 13.57% 5.50 1.92% 21.65 3.27%
Claims Repudiated No. of Policies 15 0.14% 0 2 0.25% 177 0.10% 10 2.42% 22 0.59% 25 5.62% 0 59 3.93% 389 0.15% 22 0.02% 10 1.03% 127 1.07% 335 0.46%
Benefit Amount 233.96 98.62% 16.50 100.00% 14.04 98.86% 904.30 98.64% 40.45 95.98% 87.14 95.55% 43.12 95.93% 124.75 100.00% 98.29 94.44% 1512.42 95.22% 529.07 92.46% 13.67 84.18% 280.30 98.08% 632.93 95.54%
Claims paid No. of Policies 10519 99.81% 137 100.00% 796 99.62% 177914 99.82% 400 96.62% 3701 99.38% 420 94.38% 7980 100.00% 1438 95.80% 264621 99.42% 95833 95.17% 957 98.76% 11708 98.93% 72334 99.32%
Benefit Amount 237.24 100% 16.50 100% 14.21 100% 916.73 100% 42.15 100% 91.19 100% 44.95 100% 124.75 100% 104.08 100% 1588.30 100% 572.22 100% 16.24 100% 285.80 100% 662.51 100%
Total Claims No. of Policies 10539 100% 137 100% 799 100% 178236 100% 414 100% 3724 100% 445 100% 7980 100% 1501 100% 266173 100% 100693 100% 969 100% 11835 100% 72831 100%
Claims intimated / booked Benefit No. of Amount Policies 233.20 10524 16.50 137 14.21 799 915.82 178064 41.88 413 90.69 3723 44.95 445 124.75 7980 103.67 1496 1575.66 265649 559.86 99519 16.24 969 285.08 11834 660.76 72655 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 4.04 15 0.00 0 0.00 0 0.91 172 0.26 1 0.50 1 0.00 0 0.00 0 0.41 5 12.64 524 12.36 1174 0.00 0 0.72 1 1.74 176
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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70 July - December 2020 Life Insurance Today
