Pramerica Life Insurance Company Limited

Pramerica Life Insurance is an exciting collaboration between DHFL Investments Limited (DIL), a subsidiary of Piramal Capital and Housing Finance Limited (PCHFL), and Prudential International Insurance Holdings, Ltd. (PIIH), a subsidiary of Prudential Financial, Inc. (PFI).

With a rich legacy of business excellence spanning decades, Pramerica Life Insurance Limited originated in the year 2008.

Pramerica Life Insurance Limited embodies the shared vision and commitment to providing exceptional financial protection and peace of mind to individuals and families. With a wide range of insurance products and services tailored to meet the diverse needs of their customers, Pramerica Life Insurance Limited strives to empower them to secure their future and protect their loved ones.

Pramerica Life Insurance Limited is a leading insurance company with a strong presence across India. They have carefully designed multiple distribution channels to cater to the diverse insurance needs of their customers. Their commitment lies in providing comprehensive protection and valuable financial advice to their valued customers time and again.

As a proud member of Pramerica Life Insurance Company Limited, they confidently represent the esteemed Pramerica brand in India and other chosen countries. Their extensive range of life insurance solutions caters to both individuals and groups, ensuring that everyone can find coverage that suits their unique requirements.

In the financial year, 2022-23, Pramerica Life Insurance Company Limited issued 34,603 policies and received 7,173 claims.

Awards & Recognition

Pramerica Life Insurance Company Limited has been recognised with several prestigious accolades and awards -

They have been bestowed with the prestigious “Pride Of The Nation” Award by the Veteran India Martyrs Fund 2018, a truly honourable achievement.
They have received the “Sales Champion Award” from Economic Times 2018, for their outstanding sales record and trust among customers.
They were honoured with the “SKOCH Order Of Merit Award” by SKOCH Group, in 2018 for their meritorious contributions in the insurance sector.
They received the prestigious “National Award For Marketing Excellence” from Times Network in 2018 for their exceptional marketing expertise.
They have been honoured with the “Outstanding Corporate Branding” Award by Behtar India Campaign, 2017 for their innovative branding tactics.

Claim Settlement Ratio

The Claim Settlement Ratio (CSR) is an important measure that reflects an insurance company's effectiveness in settling claims.

In the fiscal year 2021-22, Pramerica Life Insurance demonstrated exceptional proficiency with a Claim Settlement Ratio of 98.30%. This remarkable figure indicates that they have successfully honoured a significant majority of the claims they received. Additionally, their Claim Amount Settlement Ratio stood at an impressive 96.80% during the same period, highlighting their commitment to paying out a substantial portion of the claim amounts they received. These statistics underscore Pramerica Life Insurance's dedication to providing reliable and efficient claim settlement services to its customers.

By analysing the claim settlement ratio of an insurance company, you can evaluate its efficiency and ability to handle claims effectively. It is crucial to also examine the insurer's claim settlement record over the past few years to ensure consistent performance. A company with a proven track record of maintaining a high claim settlement ratio is considered more credible and reliable in meeting customers' needs.

Solvency Ratio

The solvency ratio plays a vital role in assessing the financial strength and stability of an insurance company. In accordance with the guidelines established by the Insurance Regulatory and Development Authority of India (IRDAI), insurers must maintain a minimum solvency ratio of 150%. This ensures that they have sufficient financial resources to meet their obligations.

As of March 31, 2023, Pramerica Life Insurance Company Limited stands out with an impressive solvency ratio of 369%. This remarkable ratio reflects the company's exceptional financial position, highlighting its ability to fulfil its commitments with ease. The strong solvency ratio is a testament to its financial strength and stability, providing customers with confidence in their insurance coverage. They possess the necessary financial resources to fulfil claim payments and other obligations effortlessly.

Important Links

Customer Service

Contact Number
If you need assistance with your insurance policies or have any questions, Pramerica Life Insurance Company Limited’s customer support team is just a phone call away. Simply dial their number 1860-500-7070 (local charges may apply) and they will assist you with all your queries.
E-mail
You can reach out to Pramerica Life Insurance Company Limited by sending an email to contactus@pramericalife.in.

For inquiries, issues, etc. Pramerica Life Insurance Company Limited provides alternative contact options to connect with them as well -

Twitter: https://twitter.com/PramericaLife
Facebook: https://www.facebook.com/PramericaLifeInsurance/