Pragati Life Insurance Limited settled Tk 305.20 crore in claims from the January to September period of the financial year 2024, reflecting an increase of 11.73 percent compared to the same period last year.

The life insurer settled a total of 98,266 claims in 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 4 days, the life insurer said in a press release.

In 2023, the insurer settled Tk 366.30 crore in claims, boasting a claim settlement ratio of 98.97 percent, which signifies that nearly all claims filed were paid out.

Since its inception, the life insurer has settled total claims amounting to Tk 2,560.45 crore.

Md Jalalul Azim, chief executive officer of the life insurer, expressed his commitment to customer satisfaction, stating, "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 payment of insurance claims. Our focus remains on improving our claims processing times to ensure that our customers receive their payments as quickly as possible," he said.

"Our dedication to customer service sets Pragati Life Insurance as the top choice for life insurance in Bangladesh," he added.