Digit Insurance has just rolled out its 11th Transparency Report, aiming to showcase its commitment to customers through impressive turnaround times and high claims settlement ratios.Digit Insurance isn’t playing around when it comes to handling claims. The report reveals some jaw-dropping numbers:
- Cashless Health Insurance Pre-Authorization: Approved in just 26 minutes.
- Hospital Discharge Approval: Averaged at 53 minutes.
- Motor Insurance Work Approval: Wrapped up in 12 hours and 17 minutes.
These figures aren’t just numbers; they represent real moments of relief for policyholders in need. Quick approvals mean customers spend less time worrying and more time recovering or getting back on the road.
Take home insurance, often seen as a slower process, was settled in an average of 37 days. While this might seem lengthy compared to health and motor insurance, it’s a significant improvement in the industry. Plus, with an overall claims settlement ratio soaring at 96.2%, Digit is proving its reliability time and again.
Stellar Customer Service Metrics
Digit isn’t stopping at fast claims. Their customer service metrics are equally impressive. Here’s a peek into their H1FY25 performance:
| Metric | Value |
|---|---|
| First-Time Resolution (FTR) | 92.55% |
| Average Call Resolution Time | 2 hours 13 mins |
| WhatsApp Self-Service Users | 416,000 |
| First Level Response on Social Media | 20 mins 7 secs |
These stats highlight Digit’s dedication to resolving issues promptly. Imagine calling up with a query and getting it sorted in just over two hours. That’s the kind of efficiency that keeps customers coming back.
Plus, with over 416,000 customers using WhatsApp for updates, Digit is making it easier than ever to stay informed. And those who reach out on social platforms aren’t left hanging—they get a response in under half an hour!
Impressive Growth and Market Reach
Digit’s numbers aren’t just about current performance—they tell a story of growth and expanding reach. In the first half of FY25, Digit sold over 5.7 million policies and settled 441,275 claims. Serving more than 60 million customers since its inception, the company is making significant strides in the insurance sector.
Their gross written premium jumped to Rs 5,029 crore in H1FY25, up from Rs 4,252 crore a year earlier. That’s a substantial increase, signaling trust and confidence from customers. It’s not just about selling more policies; it’s about building a strong foundation of satisfied policyholders who rely on Digit when it matters most.
Highlighting Major Claims Settlements
Digit isn’t just handling the small stuff; they’re also managing some hefty claims with ease. In H1FY25, the company settled a third-party two-wheeler claim worth Rs 1.4 crore and a third-party private car claim of Rs 1.15 crore. On the health front, a Bangalore-based customer received a settlement of Rs 27.43 lakh, while a home insurance claim in Delhi amounted to Rs 4.28 lakh.
These large claims showcase Digit’s capability to manage significant payouts without compromising on speed or efficiency. It’s a testament to their robust systems and customer-first approach.
