ICICI Prudential Life sees 60.7% surge in term business from Telangana

Metro India News | Hyderabad 

ICICI Prudential Life Insurance has recorded a 60.7% year-on-year growth in its term insurance business in Telangana during Q1-FY2027, as rising awareness around financial protection and long-term planning drives demand across the State.

At a leadership roundtable in Hyderabad, Chief Distribution Officer Amish Banker and Chief of Distribution Manikandan Rajamani highlighted the company’s growing presence in Telangana, where it covered 6,56,032 lives as of March 31, 2026. The insurer’s assets under management stood at Rs 11,708 crore, while its sum assured reached Rs 1,52,016 crore.

Banker said Telangana remained a strategically important market, with customers increasingly prioritizing protection, long-term savings and retirement planning. The insurer currently operates 11 branches in Telangana, supported by 6,172 advisors, 3,934 partner branches and 3,372 specified persons. Technology remains central to its strategy. The company uses artificial intelligence, machine learning, data analytics and digitalization across the customer lifecycle.

During Q1-FY2027, around 54% of savings policies were issued on the same day, while 58% of policies used digital KYC. The company has also introduced ICICI Pru Partner Stack, a digital platform combining tools and analytics, while IPRU Edge, its Advisor Stack, supports more than 2.44 lakh agents nationally.

The insurer reported a 99.3% claim settlement ratio in Q1-FY2027, with non-investigated individual claims taking an average of one day. The Board has approved a proposal to rename the company “ICICI Life Insurance Limited”, subject to regulatory approvals.

Amish Banker - Chief of Distribution Officer- ICICI