MUMBAI: May 22, 2019: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, has been conferred with the ‘Claims Excellence Award’ by the Federation of Indian Chambers of Commerce and Industry (FICCI).
FICCI, the largest and oldest apex business organization in India, honored Bharti AXA Life Insurance with the prestigious recognition for its customer-friendly claims services, including dedicated claims handler and one of the best claim settlement ratios, in the life insurance sector during its 20th Annual Insurance Conference- FINCON 2019*–recently here.
Bharti axa life insurance winsficci claims excellence award
‘’The FICCI Claims Excellence Award is arecognition about our pledge to provide protection againstthe uncertainties of life and timely support to customers and their families in every possible manner in the hour of need. We have successfully maintained an improved and robust track record in claims settlement in the past few years. We continue to enable faster claims settlement as our prime responsibility,’’ said Mr. Vikas Seth, Managing Director and Chief Executive Officer, Bharti AXA Life Insurance.
Ease of claims process related initiatives, effective claims settlement turn-around-time from intimation to disbursement and improved claim settlement ratio were the differentiators that led to Bharti AXA Life Insurance winning the distinguished accolade.
Commenting on the feat at the first FICCI Insurance Industry Awards 2019, Mr. Ishita Mukherjee, Chief Operative Officer, Bharti AXA Life Insurance, said, ‘’We are happy to receive the FICCI Claims Excellence Award, which is a testimony to the trust reposed in the company and its products and services by customers, other stakeholders and the industry. Our tech-driven customer services initiatives with a human touch ensured customized and faster solutions and helped us improve claims settlement ratio gradually. We are committed to further raise our customer services bar.’’
Bharti AXA Life Insurance improved its individual claim settlement ratio, the number of claims paid to the number of claims received, to 96.85 per cent in the financial year 2017-18.
As many as 30 insurance companies participated in the FICCI Insurance Industry Award, which recognizes efficacy, excellence and contribution of both life and non-life insurance companies in the domestic insurance landscape.
Bharti AXA Life Insurance Company Ltd.
Bharti AXA Life Insurance is a joint venture between Bharti, one of India’s leading business groups with interests in telecom, agriculture business and retail, and AXA, one of the world’s leading organizations with interests in financial protection and wealth management. The joint venture company has a 51% stake from Bharti and 49% stake of AXA. The company has pan-India presence through its 236 offices and offers a wide range of value for money and need-based insurance products targeted at individual and groups.