ICICI Prudential Life Insurance Co. Ltd. has achieved a significant milestone by surpassing Rs 3 lakh crore in Assets Under Management (AUM). As of July 31, 2024, the company’s AUM stood at Rs 3.14 lakh crore. Anup Bagchi, MD & CEO of ICICI Prudential Life Insurance, expressed his delight at this achievement, attributing it to customer preference for their products and trust in their ability to help achieve long-term financial goals.
The company’s focus on simplifying products and processes has been a key driver of this growth.ICICI Prudential Life Insurance emphasizes its role as a trustee and custodian of customer savings, implementing a stringent investment philosophy and risk management framework. This approach has resulted in a zero-Non-Performing Assets record since its inception.
The company’s products and processes are designed to cater to the primary needs of society, including financial security, wealth creation, and retirement income. Technology solutions have played a crucial role in simplifying life insurance, developing innovative products, and delivering an enhanced customer experience. ICICI Prudential Life Insurance’s commitment to delivering on its promises is reflected in its industry-leading claim settlement ratio of 99.17% in FY2024, with a turnaround time of just 1.27 days.
