Pragati Life Ins settles Tk 1.89b claims in H1

Pragati Life Insurance has settled claims amounting to over Tk 1.89 billion (Tk 189.68 crore) in the first half of 2023, registering an increase of 25.92 per cent year on year, says a press release.

The company settled a total of 60,152 claims in the first six months of 2023, including death claims, maturity claims, medical claims and other insurance benefits. The average claim settlement time was five days.

In 2022, Pragati Life Insurance settled claims amounting to over Tk 3.15 billion (Tk 315.75 crore) with a claim settlement ratio of 98 per cent. This means the company paid out 98 per cent of all claims that were filed in 2022.

Md Jalalul Azim, CEO of Pragati Life Insurance, said, "We are committed to providing our customers with a fast and hassle-free claims experience. We are working to improve our claims processing time to ensure that our customers receive their payments as soon as possible."

"We are confident that our commitment to customer service will continue to make Pragati Life Insurance the ideal choice for life insurance in Bangladesh," he added.