Mumbai, May 22: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and AXA, one of the world’s largest insurance companies, has been conferred with the ‘Claims Excellence Award’ by the Federation of Indian Chambers of Commerce and Industry (FICCI).
FICCI honored Bharti AXA Life Insurance with the prestigious recognition for its customer-friendly claims services, including dedicated claims handler and one of the best claim settlement ratios, in the life insurance sector during its 20th Annual Insurance Conference FINCON 2019 recently here.
‘’The FICCI Claims Excellence Award is a recognition about our pledge to provide protection against the uncertainties of life and timely support to customers and their families in every possible manner in the hour of need. We have successfully maintained an improved and robust track record in claims settlement in the past few years. We continue to enable faster claims settlement as our prime responsibility,’’ said Vikas Seth, Managing Director and Chief Executive Officer, Bharti AXA Life Insurance.
Ease of claims process related initiatives, effective claims settlement turn-around-time from intimation to disbursement and improved claim settlement ratio were the differentiators that led to Bharti AXA Life Insurance winning the distinguished accolade in the life insurance category, a company release said on Wednesday.
Commenting on the feat at the first FICCI Insurance Industry Awards 2019, Ishita Mukherjee, Chief Operative Officer, Bharti AXA Life Insurance, said, ‘’We are happy to receive the FICCI Claims Excellence Award, which is a testimony to the trust reposed in the company and its products and services by customers, other stakeholders and the industry. Our tech-driven customer services initiatives with a human touch ensured customized and faster solutions and helped us improve claims settlement ratio gradually. We are committed to further raise our customer services bar.’’
Bharti AXA Life Insurance improved its individual claim settlement ratio, the number of claims paid to the number of claims received, to 96.85 per cent in the financial year 2017-18, the release said.
As many as 30 insurance companies participated in the FICCI Insurance Industry Award, which recognizes efficacy, excellence and contribution of both life and non-life insurance companies in the domestic insurance landscape. (UNI)