Page 34 - Life Insurance Today January 2018

Statistics

(Benefit Amount in Rs. crore) Break up of claims pending -- duration wise (Policies) > 1 yr 6 - < 1 yr 22 24 32.84% 35.82% 0 0 0 0 16 1 100% 6.25% 0 0 33 8 24.26% 5.88% 0 14 100% 4.53% 0 0 12479 47 94.85% 0.36% 421 70 63.98% 10.64% 12900 117 93.38% 0.85% (Source : IRDAI Annual Report 2015-16)
13156
13814
100%
100%
100%
100%
100%
Total
0%
136
309
658
67
2
0
0
0
1
< 3 < 3 - < 6 mths mths 10 11 14.93% 16.42% 0 0 0% 0 1 100% 100.00% 1 14 6.25% 87.50% 0 2 100% 100.00% 19 76 13.97% 55.88% 53 242 17.15% 78.32% 0 0 0% 91 539 0.69% 4.10% 47 120 7.14% 18.24% 138 659 1.00% 4.77%
Claims pending at at end of the period Benefit No. of Amount Policies 4.69 67 1.64% 0.19% 0.00 0 0.00% - 0.41 1 0.31% 0.05% 0.48 16 0.94% 0.25% 0.00 2 2.90% 2.90% 7.35 136 1.38% 0.68% 0.00 0 0.00% - 6.68 309 7.54% 6.08% 0.00 0 0.01% - 59.22 13156 2.42% 4.42% 8.40 658 0.34% 0.27% 67.62 13814 1.37% 2.53%
GROUP DEATH CLAIMS FOR THE YEAR 2015-16

Claims written back Benefit No. of Amount Policies 0.00 0.00 - - 0.00 0.00 - - 0.00 0 - - 0.00 0 - - 0.00 0 - - 0.00 0 - - 0.00 0.00 - - 0.00 0.00 0.00% - 0.00 0.00 - - 0.00 0 0.00% - 0.00 0 - - 0.00 0 0.00% -

Claims repudiated / rejected Benefit No. of Amount Policies 9.12 204 3.19% 0.59% 1.96 15 4.05% 0.41% 0.48 11 0.36% 0.57% 0.73 19 1.41% 0.30% 0.00 0 - - 16.69 273 3.12% 1.37% 0.43 14 0.44% 0.10% 1.64 32 1.85% 0.63% 2.17 31 3.40% 2.63% 81.44 2784 3.33% 0.93% 0.50 101 0.02% 0.04% 81.94 2885 1.66% 0.53%

Claims paid Benefit No. of Amount Policies 272.03 34501 95.17% 99.22% 46.40 3688 95.95% 99.59% 132.26 1915 99.33% 99.38% 50.26 6354 97.65% 99.45% 0.07 67 97.10% 97.10% 510.08 19523 95.50% 97.95% 95.77 14575 99.56% 99.90% 80.29 4740 90.61% 93.29% 61.51 1147 96.59% 97.37% 2303.00 281893 94.24% 94.65% 2494.03 246745 99.64% 99.69% 4797.03 528638 96.98% 96.94%

Total Claims Benefit No. of Amount Policies 285.83 34772 100% 100% 48.36 3703 100% 100% 133.15 1927 100% 100% 51.47 6389 100% 100% 0.07 69 100% 100% 534.12 19932 100% 100% 96.20 14589 100% 100% 88.61 5081 100% 100% 63.69 1178 100% 100% 2443.66 297833 100% 100% 2502.93 247504 100% 100% 4946.59 545337 100% 100%

Claims intimated / booked Benefit No. of Amount Policies 282.73 34728 47.84 3702 132.93 1923 51.41 6386 0.07 69 525.66 19753 96.20 14589 88.42 5081 61.76 1142 2396.28 284330 2495.62 246619 4891.90 530949 Note: 1) 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 3.10 44 0.53 1 0.22 4 0.06 3 0.00 0 8.46 179 0.00 0 0.19 0 1.92 36 47.38 13503 7.31 885 54.69 14388

Life Insurer Kotak Mahindra Old Mutual Max Life PNB Met Life Reliance Life Sahara SBI Life Shriram Star Union Tata AIA Private Total LIC Industry Total

34 January 2018 Life Insurance Today

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