Aegon Life Insurance Company Limited
Aegon Life Insurance Company Limited is one of the renowned insurance companies founded in 2008. It is a joint venture between Aegon NV, a global leader in life insurance, pensions, and asset management services, and Bennett, Coleman and Company Limited, which is India’s largest media conglomerate, known as The Times Group.
They aim to safeguard the lives of individuals through reliable financial products and services. With a resolute mission to transform the life insurance landscape in India, they want every household in the country to be financially safe. Aegon Life Insurance Company Limited has an impressive track record of promoting affordability and innovation in the insurance sector. Their commitment is to simplify the complexities of life insurance, making it effortless for individuals to understand, purchase, and make claims.
In the financial year 2022-23, Aegon Life Insurance Company Limited has issued over 3,026 policies and received over 7,505 claims.
Awards & Recognitions
Aegon Life Insurance Company Limited has won several notable awards for their exceptional performance and commitment to the insurance sector -
They received the prestigious 'Express Computer Technology Senate South Award 2022' in recognition of their remarkable achievement in cloud technology.
They were honoured with the 'Best Customer Experience' award at the Banking Frontiers InsureNext Awards 2023, highlighting their exceptional commitment to deliver outstanding customer service.
Analytics India Magazine recognised them as the top choice for data scientists and awarded them with 'Best Firm for Data Scientists' award.
They secured two victories at the Express Computer BFSI Technology Awards 2023 for their best-in-class enterprise security and cloud technology solutions.
Claim Settlement Ratio
The Claim Settlement Ratio is a metric to assess the reliability of an insurance company to handle claims. It is the ratio of total number of claims settled to the total number of claims received by the company in a particular financial year.
Aegon Life Insurer Company Limited’s Claim Settlement Ratio during the fiscal year 2021-22 was 99.03%. This means they have successfully paid out a vast majority of the claims they received. During the same year, they achieved an impressive Claim Amount Settlement Ratio of 98.76%. This percentage indicates the portion of the claim amount received that they have paid.
By evaluating the Claim Settlement Ratio of an insurance company, you can gauge its proficiency to fulfil the claim obligations. It is also important to review the insurer’s CSR track record over the past few years to determine their consistency in meeting their obligations.
The solvency ratio is a metric that indicates the financial strength and stability of an insurance company. It measures the insurer's capacity to settle claims effectively. In accordance with the guidelines established by the Insurance Regulatory and Development Authority of India (IRDAI), insurance companies are required to maintain a minimum solvency ratio of 150%.
Aegon Life Insurance Company Limited’s solvency ratio for the period that ended on 31st March, 2023 is 275%. This signifies that the insurer has sufficient financial resources to fulfil their financial obligations.
For any queries or information about their services, you can contact Aegon Life Insurance Company Limited's support team by calling their toll-free number 1800-209-9090.
If you have any concerns, queries, or require further assistance, you can also reach out to them by sending an email to firstname.lastname@example.org.
Aegon Life Insurance Company Limited also provides alternative contact options for your queries, doubts, support, etc -