Health Insurance India Claim Settlement Ratio

Incurred claim ratio aditya birla health insurance.

Health insurance india claim settlement ratio. It is an accurate way to weigh an insurance company s standing for claim settlement. Claim settlement ratio is the percentage of claims settled by the insurance company against the total number of claims made against it. Most private health insurance companies have incurred claim ratio between 75 and 90.

It also implies that 7 claims have either been kept pending or have been repudiated. In other words if there were 100 claims admitted by a particular company out of which 93 has been settled then the claim settlement ratio is 93. More the claim settlement ratio the better is the insurer.

A claim settlement ratio is basically the ratio of settled claims to the total claims filed in a particular accounting period. With the proper understanding of incurred claim ratio customers can choose the right company that meets their expectations. What is claim ratio in health insurance.

The companies providing an incurred claim ratio of 97 5. The remaining 10 are either pending or rejected by the insurance company. National health insurance this is the oldest company in india which is providing insurance services to the customers.

The company s potential to repay the claims is fair enough which can be understood with its incurred claim ratio icr of 90 69. From a health insurer standpoint the above table shows that care health had a clam settlement ratio of 92 58 for the fiscal year 2018 2019 which means that the company was able to settle claims to the tune of almost 93. The following table shows 10 claim settlement ratio health insurance companies in india.

Bajaj allianz health insurance. They are tied up with 5420 network hospitals in india and committed to settling the claims rapidly. Claim settlement ratio or csr in health insurance is the ratio of claims settled against the total number of claims admitted during a financial year.