Max Financial Services’ subsidiary company -- Max Life Insurance Company has paid 19,922 death claims worth Rs 885.57 crore during the Financial Year 2020-21, resulting in an individual death claims paid ratio of 99.35% for the Company. Max Life's customer commitment has helped the Company consistently improve the claims paid ratio to surpass the 99% benchmark for the past two financial years.
In the pursuit of becoming a digital-focused life insurer, Max Life has deployed predictive analytics-based underwriting models and robust fraud management strengthened by the digitization of forensic controls. This has consistently improved Max Life's claims paid ratio over the last five years from 97.81% in FY17 to 99.35% in FY21, making it the company's new 'India Ke Bharose Ka Number' plus.
Max Financial Services is a part of the Max group, an Indian multi business corporation.
