Max Life Insurance Company, a joint venture (JV) between Max Financial Services and Axis Bank, has disbursed 30,830 death claims worth Rs 2,009 crore in the financial year 2021-22, attaining an individual death claims paid ratio of 99.34%. With this, Max Life has surpassed the coveted 99% benchmark for three consecutive financial years.
Max Life has deployed predictive analytics-based underwriting models and robust fraud management, strengthened by digitized forensic controls, to ensure a seamless claims settlement process for its customers. With this, over the last five years, Max Life has consistently improved its claims paid ratio from 98.26% in FY18 to 99.34% in FY22.
Max Financial Services is a part of the Max group, an Indian multi business corporation.
