The Claim Settlement Ratio (CSR) measures an insurer’s reliability by comparing the number of claims settled to the total number of claims filed in a financial year. A higher percentage signals greater trust and efficient claim resolution—vital for policyholders seeking assurance during tough times. Bajaj Allianz LifeBajaj Allianz General Insurance Company
Bajaj Allianz Life Insurance – CSR Overview
FY 2024–25 (Individual Death Claims)
- CSR: 99.29%
Indicates an exceptionally strong claim settlement performance for individual death claims. Bajaj Allianz LifeThe Wire - Claims settled: 13,994 individual life insurance claims, totaling ₹862.79 crores. The Wire
- Speed: 96% of non-investigative claims were approved within one working day of intimation (submitted before 3 PM) The Wire
Past Trend (FY 2020–25)
- FY 2020–21: 98.48%
- FY 2021–22: 98.02%
- FY 2022–23: 99.02%
- FY 2023–24: 99.23%
- FY 2024–25 (Preliminary): 99.29% www.bajajfinserv.in
Add-On Highlights & Trust Signals
- Solvency Ratio: 359% as of March 31, 2025 (IRDAI mandate is 150%) The Wire
- AUM (Assets Under Management): ₹1.23 lakh crore+ as of March 2025 The Wire
- Credit Rating: Retained AAA (Stable) rating from CARE for three consecutive years The Wire
Understanding CSR – Definitions & Methodology
- Definition: CSR = (Number of Claims Settled / Number of Claims Filed) × 100 Bajaj Allianz LifeBajaj Allianz General Insurance Company
- Why it matters:
- Reflects insurer’s credibility, trustworthiness, and customer-first approach
- Indicates efficiency in documentation and claim handling
- Helps prospective buyers compare insurers effectively Bajaj Allianz LifeBajaj Allianz General Insurance Company
Why Bajaj Allianz Leads
Consistently high CSR scores over the years reflect:
- Strong internal processes and claim-handling efficiency
- Use of technology and digital tools for faster claim processing
- Transparent, customer-centric service with proactive guidance on documentation The Wirewww.bajajfinserv.inBajaj Allianz Life
Quick Comparison Table
| Financial Year | Claim Settlement Ratio (Individual Death Claims) |
|---|---|
| FY 2020–21 | 98.48% |
| FY 2021–22 | 98.02% |
| FY 2022–23 | 99.02% |
| FY 2023–24 | 99.23% |
| FY 2024–25 | 99.29% (Provisional/Final) |
FAQs
1. What is a good claim settlement ratio?
Anything close to 100% is considered excellent—most policyholders expect 95% or above as a reliable threshold. Bajaj Allianz delivering over 99% meets and exceeds this expectation. Bajaj Allianz General Insurance Companywww.bajajfinserv.in
2. Does a high CSR guarantee claim payout?
Not guaranteed outright—settlement depends on claim eligibility, compliance with policy terms, and accurate documentation. High CSR simply indicates a consistently strong track record. Bajaj Allianz General Insurance Company
3. Where can I verify CSR for insurers?
The definitive source is the IRDAI annual report. Bajaj Allianz also publishes CSR metrics directly on its website and through credible media sources.
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