LIC sets record on claims front, settles 99.92% cases The Life Insurance Corporation (LIC) pulls off a record claim performance by settling 99.92% of death claims in 2016-17 as against industry average of 95% PTI Till date, LIC has had nearly 11 lakh such cases outstanding. Photo: Ramesh Pathania/Mint Mumbai: The Life Insurance Corporation (LIC) has pulled off a record claim performance by settling 99.92% of death claims in 2016-17 as against industry average of 95%. The insurance behemoth is keen to push the boundary further, looking to settle 99% claims on a monthly basis too in future. “LIC has settled 99.92% of death claims in 2016-17, which is undoubtedly one of the best performances not only in the country, but in the world,” an LIC source told PTI here. According to industry body Life Insurance Council, there are a total of 24 players, including LIC, active in the life insurance space and the industry average of death claim settlement stands a