Hi Nishikant, As
per the Claim Settlement Ratio numbers released by IRDA for 2010 - 11, HDFC has a better claim settlement ratio than ICICI and Metlife.
Let's have a look at the top ten term insurance plans as
per the claim settlement ratio data 2015 - 16 available in the market that a working woman can consider.
Below is the insurance companies list as
per claim settlement ratio in 2015 - 16.
Not exact matches
Read: Best Insurance company as
per latest
claim settlement ratio.
While 13th month persistency touched 76
per cent,
claims settlement ratio reached 94
per cent.
Claim settlement ratio: The proportion explains what numbers of
settlements have been done
per 100
claims.
Life Insurance Corporation posted
claim settlement ratio of 97.73
per cent last fiscal, as compared to 97.42
per cent in 2011 - 12.
For private insurers, the
settlement ratio had gone down to 88.65
per cent in 2012 - 13, as compared to 89.34
per cent during the previous year, Irda said.It further revealed that private sector insurance firms have been rejecting about 8
per cent of the
claims as against 1.12
per cent by the LIC.
As
per data Top 5 companies with a consistent
claim settlement ratio of more than 90 % are highlighted with red color.
Talking about the
claims, he informed that the
claim settlement ratio of LIC is 99.68
per cent for the year 2013 - 14.
Life Insurance Corporation (LIC) of India has paid out more as the
settlements against the
claims from its insured last financial year, in the meanwhile its private sector peers have improved their
claim settlement ratio (CSR), with an improved customer service.The
claims - to -
settlement ratio, i.e. the proportion of the policies paid out
per 100
claims, for Life Insurance Corporation of India was at around 98.31 percent, recording a significant improvement.
According to IRDA's latest data for 2015 - 16, ETLI ranked 17th among the 24 Life Insurers on CSR for individual death
claims, with a
settlement ratio of 85.11
per cent.
So, as
per the data LIC
claim settlement ratio become 97.74 % for FY 2016 - 17.
As
per recent
claim settlement ratio data SBILife has maintained 91.06 % which is good.
It tries to settle maximum
claims within the stipulated time frame and its
claim settlement ratio for the year 2016 - 17 was 98.14 as
per data of IRDA annual report, which was the highest in the insurance sector.
Just wanted to share
Claim Settlement Ratio for iTERM as
per the following website — https://buyonline.aegonreligare.com/iTerm-plan.asp#brochure i TERM
Claims — Received: 07 Honoured: 06 Rejected: 01 (Rejection reason could be read on the captioned link).
Bajaj Allianz Life has a
claim settlement ratio of 91.85 % as Claim Settlement Ratio (as per IRDAI Annual Report 2014 -
claim settlement ratio of 91.85 % as Claim Settlement Ratio (as per IRDAI Annual Report 2
settlement ratio of 91.85 % as Claim Settlement Ratio (as per IRDAI Annual Report 2014 -
ratio of 91.85 % as
Claim Settlement Ratio (as per IRDAI Annual Report 2014 -
Claim Settlement Ratio (as per IRDAI Annual Report 2
Settlement Ratio (as per IRDAI Annual Report 2014 -
Ratio (as
per IRDAI Annual Report 2014 - 15).
Hello Johnson, IRDA does not give a break up of the
claim settlement ratio as
per the plans.
As
per IRDAI annual report, ICICI Prudential life's
claim settlement ratio is 96 %.