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Max New York Life Insurance settles 99.84 percent claims

Max New York Life Insurance settles 99.84 percent claims.

Apnainsurance.com Research Bureau

11 Jun 2008

Max New York Life Insurance achieved a claim settlement of 99.84 per cent for the fiscal year 2007-08.

The average settlement turnaround time for the claim for the entire period was 4 days. This meant that only 5 outstanding claims were remaining for the entire year.

Six Sigma project was also under taken by the company to improve the claim process. Risk mitigation measures, follow up mechanisms and various controls have been put up by the company to improve the efficiency of the claim settlement process.



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