#Title

CLAIM SETTLEMENT BY LIFE INSURANCE COMPANIES
In %; SOURCE: IDRA
REASONS OF LOW CLAIM
SETTLEMENT
Bad investment of life fund
Lack of corporate governance
Fund embezzlement
Lack of digitisation
2020
2021
2022
AT A GLANCE
Life insurance penetration is 0.4 %
Insurance sector suffers from lack of trust
Six companies’ claim settlement ratio is below 50 %
Claim settlement ratio is above 95 % in 18 insurers
Highest amount of claims settled by MetLife