New Delhi, Feb. 12 -- Setting a new milestone at the most critical point of the insurance journey, Policybazaar has facilitated over Rs.2,069 crore worth of term insurance claims since 2018. Despite being one of the most essential tools for financial protection, term insurance in India remains a massively underpenetrated segment due to lack of awareness and concerns around claims. Seen in this context, this benchmark sends across a positive reinforcement of consumer confidence in term insurance.

Settled across a total of 2660 claims, this milestone figure also represents the seamless delivery of new-age digital-first models in insurance that promote better speed and transparency for the customers. Along with insurer partners, Policybazaa...