Pragati Life settles Tk 3,052m in claims in 9 months

Pragati Life Insurance Limited has successfully settled Tk 3,052 million in claims over the first nine months of 2024, from January to September, marking an 11.73 per cent increase compared to the same period last year.

The company processed a total of 98,266 claims during the first three quarters of 2024, including death claims, maturity claims, medical claims, and other insurance benefits. Remarkably, the average claim settlement time was just four days, says a statement.

In 2023, Pragati Life Insurance settled Tk 3663 million in claims, boasting an impressive claim settlement ratio of 98.97 per cent, which signifies that nearly all claims filed were paid out. Since its inception, Pragati Life has settled a total of over Tk 25.60 billion in claims.

Md. Jalalul Azim, CEO of Pragati Life, reaffirmed his commitment to customer satisfaction, saying, "We are dedicated to providing our clients with a fast and hassle-free claims experience. I'm proud to say we have received no complaints regarding the payment of insurance claims. Our focus remains on continuously improving our claims processing times to ensure that our customers receive their payments as quickly as possible."