New India Assurance Co. Ltd. and Aditya Birla Life Health Insurance are among the top players in terms of health claims paid in India, according to data from the Insurance Brokers Association of India. For the year ending March 2023, New India Assurance paid out 95% of the health claims received, with Aditya Birla Life Health Insurance paying out 94.5%. In terms of the amount of claims paid, New India settled 98.7% of the claims received, with Oriental Insurance ranking second with 97.4%. The claims paid ratio is a measure of an insurance company’s ability to settle claims in a timely manner, with a higher ratio indicating better performance. The claims paid ratio on the amount of claims is a similar metric, measuring the proportion of total claim amounts paid out. These statistics suggest that New India Assurance, Aditya Birla Life Health Insurance, and Oriental Insurance are among the most effective at settling health insurance claims in India.
New India Assurance and Aditya Birla Life Insurance witnessed successful health insurance claims settlements in FY23.
by newsworm | Dec 16, 2024 | Aditya Birla, Birla Sun Life, Insurance, New India Assurance