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Immune to Market Fluctuations

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Kamesh Goyal and Fairfax come together yet again!

  • 6 years back the A-team founded Digit General Insurance.
  • Kamesh Goyal is the Chairman of Digit General Insurance and has 35 years of experience in insurance. He is the Ex-CEO of Bajaj Allianz General & Life Insurance and Ex-CEO of Allianz Asia.
  • Fairfax is backed by Canadian billionaire investor Prem Watsa and is one of the largest financial companies in the world.

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Digit Life Insurance Shows Strong FY'25 Growth Over FY'24

How Efficiently Digit Life Insurance Settles Claims?

How Efficiently Digit Life Insurance Settles Claims?

At Digit Life Insurance, settling claims quickly and fairly is not just a goal—it’s a commitment. To ensure our customers and their families are supported when they need us most, we focus on two key things: speed and transparency.

1. End-to-End Turnaround Time (TAT)

  • This is the total time taken, from the day we first get the death claim to the day we complete it.
  • How is It Calculated: We subtract the date the claim was registered from the date it was closed.
  • End-to-End TAT = Claim Closing Date – Claim Registration Date.

 

2. Last Document Received (LDR) TAT

  • Sometimes, claims take time because we’re waiting for all the required documents. This number indicates how quickly we process a claim once we receive the final document from the claimant.
  • How is It Calculated: We subtract the date we received the last required document from the claim closing date.
  • LDR TAT = Claim Closing Date – Date Last Document Received

99.53% Claim Settlement Ratio For Digit’s Life Insurance in FY'25

When life takes an unexpected turn, every second matters. With a 99.53% Claim Settlement Ratio (CSR), Digit Life Insurance stands as a pillar of trust and reliability. This isn’t just a statistic; it’s a promise to our policyholders.

Every claim tells a story. Whether it was a salaried parent overcoming loss, a child’s future hanging in the balance, or a spouse seeking stability, we acted fast to bring peace of mind to grieving families.  

That’s why we are committed to settling genuine claims swiftly, transparently, and with compassion, ensuring that your loved ones receive the support they need when it matters most.

₹2.88 Billion Worth Claims Paid in FY'25

₹2.88 Billion Worth Claims Paid in FY'25

At Digit, we don’t just talk about protecting families; we actually do it. In the last financial year, we paid ₹2.88 billion to families who lost a loved one. That’s a big jump from ₹351.52 million a few years ago, showing how much we have grown and how seriously we take our promise.

Every payout represents a family supported, a future safeguarded, and a promise fulfilled. We make sure claims are settled quickly and clearly, with zero confusion, so families don’t have to worry during tough times. 

15,000+ Claims Settled in FY'25

15,000+ Claims Settled in FY'25
At Digit, numbers aren’t just metrics; they are milestones of real lives touched. We are proud to share that the number of families we have supported through life insurance has soared from just 600 to 15,596 – a 25x growth that reflects the deep trust people place in us. That means thousands more families received the support they needed during life’s toughest moments. It shows how more and more people are choosing Digit to stand by them in their most vulnerable moments.

Solvency Ratio for Digit's Life Insurance in FY'25 is 3.85

At Digit, being financially strong isn’t just a goal; it’s how we earn your trust. Our solvency ratio has grown from 2.07 to 3.85, which means we are more than ready to keep every promise we make.

This number shows we have more than enough funds to pay claims and support families, even in tough times. In fact, our ratio is nearly double the required limit, giving you extra peace of mind.

Because when you choose life insurance, you are not just buying protection; you are trusting us with your family’s future. And we take that seriously.

Disclaimer: This report offers an overview of Digit Life Insurance’s performance, highlighting the growth in premiums, solvency ratio, and claims settlement metrics (CSR, claims paid, and claims settled), based on the company’s FY’25 internal data. The information is intended for general awareness only and should not be considered financial advice. Past performance may not reflect future outcomes.

1. Record-Breaking Days

Talk about a busy day! We issued over 1.7 lakh policies on September 28, 2024. Our systems were operational even at late hours, issuing over 1,100 policies at 1:08 AM on December 7, 2024.

2. Our Growing Family

The average age for people joining the Digit Life insurance family in FY24-25 was 34 years old, a slight nudge up from 33 years previously.

3. Premium Extremes

Talk about range! We saw an annual premium as high as ₹35 lakh for our Digit Icon product, while we also issued policies for as little as ₹143 for a 2-year Digit Life Group Micro Term Insurance

4. More Women Protected

We saw a 1.2% increase in female lives covered this FY, with women now making up 49.89% of our total covered lives, up from 48.77% last year

5. Flexible Premiums

We've got options! Some folks opted for monthly premiums as low as ₹50 per month, while others chose the monthly premium category for a policy with an annual premium of ₹2.3 lakh (roughly ₹19,000/month).

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Frequently Asked Questions

How is Digit Life Insurance different?

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We are trying to simplify life insurance by creating flexible, transparent and simple life insurance products. We are creating technology backed paperless processes that helps you buy and claim faster. We believe in educating our customers on insurance and its terms to make sure people get what they buy!

Who can buy Digit Life Insurance?

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At Digit Life Insurance, we extend our coverage to diverse needs. Whether you're a group looking for term insurance or a lender looking for group credit protection, we have products that are designed to safeguard your interests and bring peace of mind.

You are a new company, how should I trust you?

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We are a new company yes, but founded by the same people who created the customer-loved company, Digit General Insurance! Digit General Insurance already has 3.5 crore customers. They have settled 6 lakhs+ claims already and rated pretty high by their customers on Google, a testament to their service levels. Digit Life Insurance and Digit General Insurance share the same mission i.e. to simplify insurance. 

Is Digit Life Insurance approved by the regulator?

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Of course, our IRDAI license registration number is 165. And they have done their checks to make sure we give you only the best and trusted!