PNB MetLife's claim settlement ratio surpasses 99% in FY23

PNB MetLife on Saturday said it had achieved a claim settlement ratio of 99.06 per cent and 99.70 per cent for individual and group customers' claims, respectively, in FY2022-23. Punjab National Bank promoted life insurer paid 19,768 claims totalling Rs 829.79 crore, demonstrating its deep commitment to standing by customers when it matters the most, PNB MetLife said in a statement.

While this is the company's highest claims settlement performance for both individual and group customers over the past three years, PNB MetLife has consistently paid over 97 per cent of claims demonstrating the company's robust claim management practices and high-quality customer service.

"Our commitment to investing in cutting-edge solutions and fostering a culture of innovation ensures that we deliver a smooth and hassle-free customer experience,” the company's MD Ashish Kumar Srivastava said.