Fastest Insurers to Settle Claims within 3 Months:ICICI Lombard General Insurance: 98.04% claims settled within 3 months Bajaj Allianz General Insurance: 96.45% claims settled within 3 months HDFC Ergo General Insurance: 95.52% claims settled within 3 months Apollo Munich Health Insurance: 94.95% claims settled within 3 months Max Bupa Health Insurance: 94.64% claims settled within 3 monthsSlowest Insurers to Settle Claims within 3 Months:United India Insurance: 73.45% claims settled within 3 months New India Assurance: 75.13% claims settled within 3 months National Insurance: 76.23% claims settled within 3 months Oriental Insurance: 77.15% claims settled within 3 months Universal Sompo General Insurance: 78.21% claims settled within 3 months

Fastest Insurers to Settle Claims within 3 Months:

  1. ICICI Lombard General Insurance: 98.04% claims settled within 3 months
  2. Bajaj Allianz General Insurance: 96.45% claims settled within 3 months
  3. HDFC Ergo General Insurance: 95.52% claims settled within 3 months
  4. Apollo Munich Health Insurance: 94.95% claims settled within 3 months
  5. Max Bupa Health Insurance: 94.64% claims settled within 3 months

Slowest Insurers to Settle Claims within 3 Months:

  1. United India Insurance: 73.45% claims settled within 3 months
  2. New India Assurance: 75.13% claims settled within 3 months
  3. National Insurance: 76.23% claims settled within 3 months
  4. Oriental Insurance: 77.15% claims settled within 3 months
  5. Universal Sompo General Insurance: 78.21% claims settled within 3 months

by | May 11, 2025 | Aditya Birla, Bajaj Allianz Life Insurance, Care, HDFC ERGO, ICICI Lombard, Insurance, New India Assurance, Star Health and Allied Insurance, United India Insurance

The Insurance Regulatory and Development Authority (IRDAI) has released its handbook on Indian Insurance Statistics for 2023-24, which provides insights into the claim settlement ratios of various insurance companies in India. The claim settlement ratio helps...
Best insurance company in India: 90% claims settled each by Aditya Birla, New India, HDFC ERGO; Bajaj, Star, Shriram lowest.

Best insurance company in India: 90% claims settled each by Aditya Birla, New India, HDFC ERGO; Bajaj, Star, Shriram lowest.

by | May 2, 2025 | Aditya Birla, Bajaj Allianz Life Insurance, HDFC ERGO, Insurance, New India Assurance, Star Health and Allied Insurance

A recent report by the Insurance Brokers Association of India (IBAI) for the financial years 2023-24 and 2022-23 has revealed that four insurance companies in India have consistently cleared more than 90% of claims made by beneficiaries. The top performers include...
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According to a report by the brokers association, the Indian insurance companies that reject claims the least are revealed, providing insight into the claims settlement records of various insurers.

by | May 2, 2025 | Aditya Birla, Bajaj Allianz Life Insurance, HDFC ERGO, IFFCO Tokio, Insurance, New India Assurance

A recent report by the Insurance Brokers Association of India (IBAI) has revealed that the claim-to-settlement ratio for general insurance in India has decreased to 86% in 2022-23, down from 87% in the previous fiscal year. This means that 14% of claims were rejected...