Policybazaar Facilitates ₹3,016 Cr Term Insurance Claims
On 17 July 2026, Policybazaar issued a press release from Gurugram stating that it has facilitated over ₹3,016 crore in term‑insurance claims since the start of 2018. The announcement underscores the platform’s role in addressing low awareness and claims‑settlement concerns that have traditionally hindered term‑insurance penetration in India.
The claims data cover 32 states and union territories and more than 601 cities, demonstrating a nationwide reach. Analysis of the claims reveals the following cause‑of‑death distribution: heart conditions account for 31 %, sudden demise for 30 %, accidental deaths for 15 %, Covid‑19 for 13 %, chronic diseases for 6 %, and organ failure for 5 % of the total claims facilitated.
Policybazaar attributes the efficiency of its claims process to a technology‑led ecosystem that leverages APIs, AI‑driven workflows and real‑time data integration, which together reduce turnaround times and improve coordination among insurers, claimants and the platform’s support team.
Joint Group CEO, Sarbvir Singh, of 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 release outlines three core pillars of the Policybazaar claims service:
1. Zero‑cost advocacy – a dedicated Relationship Manager is assigned to each nominee to act as a single point of contact throughout the claim lifecycle.
2. Documentation support – the platform streamlines death‑certificate validation, medical‑record coordination and insurer‑required paperwork through structured, step‑by‑step assistance.
3. 24×7 claims assistance – a round‑the‑clock support team helps families initiate and track claims without delay.
About Policybazaar: Founded in 2008, Policybazaar is one of India’s largest digital insurance platforms, having issued 62.9 million policies up to December 2025. It collaborates with 50+ insurance partners offering products across health, life, motor and corporate insurance, and provides customers with 24/7 digital assistance and on‑ground advisors.
Disclaimer: The above press release comes to you under an arrangement with NRDPL. PTI takes no editorial responsibility for the same.