HT Syndication
Gurugram (Haryana) [India], July 17: Marking another significant breakthrough in delivering on the true promise of insurance, Policybazaar has facilitated over ₹3,016 crore worth of term insurance claims since 2018. Despite being one of the most essential tools for financial protection, term insurance remains significantly underpenetrated in India. Low awareness and concerns around claims settlement remain among the biggest barriers to adoption. Seen in this context, this milestone reinforces consumer confidence in term insurance and reflects the growing trust in digital-first claims assistance.
The milestone also reflects the scale at which technology-enabled insurance platforms are simplifying one of the most emotionally difficult moments for families. Working closely with insurer partners, Policybazaar continues to make the claims journey faster, more transparent and more empathetic.
Behind this experience is a technology-led claims ecosystem powered by APIs, AI-driven workflows and real-time data integration, enabling faster coordination between stakeholders and helping significantly reduce turnaround times.
The story behind the claims numbers
Policybazaar's dedicated claims support today extends across 32 States and Union Territories and over 601 cities, demonstrating the growing reach of structured claims assistance across India.
Some key trends emerging from the data include:
- Heart conditions remain the leading cause of death, accounting for 31% of all claims facilitated since 2018.
- Sudden demise account for another 30%, highlighting how unexpected medical events continue to impact families during their prime earning years.
- Accidental deaths make up 15% of total claims, while Covid-19 contributes 13%, reflecting the lasting impact of the pandemic.
- Chronic diseases (6%) and organ failure (5%) account for the remaining claims, reinforcing the need for financial protection against a wide range of health risks.
Sarbvir Singh, Joint Group CEO, PB Fintech, said, "Term insurance is one of the most important financial products a family can own, yet it is often the least understood. The true value of insurance is realised not when a policy is purchased, but when a claim reaches a family at the moment they need it the most. Facilitating over ₹3,000 crore in claims is not just a milestone in numbers; it represents thousands of families who received financial support during one of the most difficult phases of their lives. We remain committed to making the claims journey simple, transparent and compassionate through technology, dedicated human assistance and close collaboration with our insurer partners."
The three core pillars of Policybazaar Claims
- Zero-cost advocacy: Every nominee is assigned a dedicated Relationship Manager who acts as a single point of contact and coordinates with insurers throughout the claim lifecycle.
- Documentation support: The overwhelming paperwork grieving families face - death certificate validation, medical records coordination, and insurer requirements is streamlined through structured, step-by-step assistance.
- 24x7 claims assistance: Recognising that emergencies do not follow business hours, the claims support team remains available round the clock to help families initiate and track claims without delay.
About Policybazaar:
As one of India's largest digital insurance platforms, Policybazaar is committed to making insurance accessible, transparent, and personalised for every Indian and global customer. Since 2008, Policybazaar has issued 62.9 million (till December 2025), and helped protect families against death, disease, and disability. Policybazaar works with 50+ insurance partners offering products across health, life, motor, and corporate insurance. The company supports customers with 24/7 digital assistance and on-ground insurance advisors, ensuring a seamless experience across all touchpoints
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