Birla Sun Life Insurance, one of India ’s leading life insurance companies, has set a new benchmark amongst insurance players, by achieving the landmark of processing 100 per cent of its claims.
Commenting about the achievement, Mr Amitabh Verma, Chief Operations Officer, Birla Sun Life Insurance said, “It gives us great pleasure to achieve the unique distinction of achieving an unbelievable Claims Outstanding ratio of 0.00% i.e. 100% of all claims intimated in this fiscal stand processed. It is evident that we are continually setting benchmarks in the marketplace and are well on course of realizing our vision to become India ’s most admired Life Insurance Company.”
The company’s Claims Outstanding ratio has been continuously reducing year-on-year and has been one of the best in the industry. A reduction from 0.32% in 2007-08 to 0.00% in 2008-09, is a living example of the strong system & processes the Company has set in and demonstrates Birla Sun Life Insurance’s customer outcome oriented approach.
Additionally, a recent survey (2008) conducted by 'Life Office Management Association' (LOMA) of Life Insurance Companies across ASIA (wherein Birla Sun Life Insurance too had participated) reveal that Birla Sun Life Insurance have had the best Turn Around Times (TAT's) on all Claims Parameters amongst all the participants.
Mr. Verma further added “Claims is one of the most important yardsticks by which a Company's performance is measured. With the above achievements, we believe that we continue to build the faith amongst the public & the insured population, of being the preferred insurance provider and reinforce our 'Customer First' approach - even when it comes to critical issue of 'claims processing.”
Birla Sun Life Insurance, which has till date sold over 2 million policies, has positioned itself on the quality platform. The company has developed a strong model based on defined core values of Integrity, Commitment, Passion, Seamlessness, and Speed. Its strategy is to establish itself as a trusted life insurance specialist on the basis of quality of advice. The company has over 1, 68,090 advisors, who are widely considered among the best in the business.
Commenting about the achievement, Mr Amitabh Verma, Chief Operations Officer, Birla Sun Life Insurance said, “It gives us great pleasure to achieve the unique distinction of achieving an unbelievable Claims Outstanding ratio of 0.00% i.e. 100% of all claims intimated in this fiscal stand processed. It is evident that we are continually setting benchmarks in the marketplace and are well on course of realizing our vision to become India ’s most admired Life Insurance Company.”
The company’s Claims Outstanding ratio has been continuously reducing year-on-year and has been one of the best in the industry. A reduction from 0.32% in 2007-08 to 0.00% in 2008-09, is a living example of the strong system & processes the Company has set in and demonstrates Birla Sun Life Insurance’s customer outcome oriented approach.
Additionally, a recent survey (2008) conducted by 'Life Office Management Association' (LOMA) of Life Insurance Companies across ASIA (wherein Birla Sun Life Insurance too had participated) reveal that Birla Sun Life Insurance have had the best Turn Around Times (TAT's) on all Claims Parameters amongst all the participants.
Mr. Verma further added “Claims is one of the most important yardsticks by which a Company's performance is measured. With the above achievements, we believe that we continue to build the faith amongst the public & the insured population, of being the preferred insurance provider and reinforce our 'Customer First' approach - even when it comes to critical issue of 'claims processing.”
Birla Sun Life Insurance, which has till date sold over 2 million policies, has positioned itself on the quality platform. The company has developed a strong model based on defined core values of Integrity, Commitment, Passion, Seamlessness, and Speed. Its strategy is to establish itself as a trusted life insurance specialist on the basis of quality of advice. The company has over 1, 68,090 advisors, who are widely considered among the best in the business.
