ICICI Prudential Life Insurance Registers A 60.7% YoY Growth In Term Plan Business In Telangana In Q1-FY2027

Hyderabad: The Company has registered a strong 60.7% year-on-year growth in Q1-FY2027 for the term plan (retail protection) business in Telangana. The Company covered 6,56,032 lives in the State as on March 31, 2026. The Company is also receiving strong demand in its savings business that includes linked, non-linked and annuity business in the State of Telangana.

The Company’s Assets under Management (AUM) stood at Rs. 11,708 crore as on March 31, 2026 in the State. Importantly, the Company reported a sum assured of Rs. 1,52,016 crore as on March 31, 2026 in the State and in the last 7 years the Company has paid total benefits worth Rs. 4,060 crore to its customers in the State of Telangana.

The Board of Directors recently approved a proposal to rename the Company as ‘ICICI Life Insurance Limited’, subject to relevant approvals. As on March 31, 2026, the Company has 11 branches and 6,172 advisors along with 3,934 partner branches and 3,372 specified person in Telangana.

Mr. Amish Banker, Chief Distribution Officer, ICICI Prudential Life Insurance Company Limited, said, “Telangana continues to be a strategically important market for our Company and we are witnessing strong momentum across both urban and emerging centres in the State. Over the past few quarters, we have seen a clear shift in customer behaviour, with individuals increasingly prioritising financial protection, long-term savings and retirement planning as part of their overall financial goals. Our continued investments in distribution, digital capabilities, diversified products and customer engagement are helping us deepen our presence in the region.

Our Company’s strategy is to make it effortless for customers to plan and take control of their future. All our efforts are focused in this direction.

Overall, our Company leverages artificial intelligence, machine learning, data analytics and digitalisation across the customers’ entire life cycle. Notably, during Q1-FY2027, at the overall Company level, approximately 54% of our savings policies were issued on the same day, and about 58% of our insurance policies were issued using digital KYC. Importantly, 97% of our services are made via self-help or digital modes, enabling our customers to easily manage their policies in a few clicks.

Moreover, we have launched the industry’s first digital platform – ICICI Pru Partner Stack, a first-of-its kind suite of capabilities that combines digital tools and analytics.

Additionally, our Advisor Stack – IPRU Edge enables our advisor network of over 2.44 lakh agents across the country to efficiently grow their business, manage operations, issue policies on the same day and deliver an enhanced customer experience. We are the first Company to pay out commissions on the same day to select distributors. Importantly, a new distribution partner is onboarded in less than 2 weeks.

Furthermore, our claim settlement ratio of 99.3% in Q1-FY2027, with an average turnaround time of just 1 day for non-investigated individual claims at the overall Company level, reflects our commitment to fulfilling the promise made to our customers and their families. Our claim settlement process is very simple. Claim request can be easily submitted through the Company’s website, email, SMS, WhatsApp, branch visit or our 24X7 customer support. Furthermore, our overall Company’s early claims ratio at 22% is the best in class in the industry, highlighting our focus on quality business sourced over the years. Notably, our Company has paid Rs. 1,192 crore as death claims in Telangana over the last 7 years as on March 31, 2026.

Telangana offers significant long-term opportunities and we remain committed to expanding our reach, improving accessibility and delivering solutions that address the evolving needs of customers across the State.”

In line with the Company’s strategy to be the ‘most customer-friendly and partnerable insurer’ in the country, the Company is scaling up distribution and leveraging technology to drive insurance penetration and enhance customer experience.

As part of its strategy, the Company plans to further strengthen its footprint in Telangana through branch expansion, advisor hiring and targeted customer outreach initiatives.

For further queries please e-mail on corpcomm@iciciprulife.com