Personal Finance

Term of the week: Claim settlement ratio

Bavadharini KS | Updated on July 14, 2019 Published on July 14, 2019

 

Claim settlement ratio is a metric that measures the proportion of the claims settled against the total number of claims received by the insurer.

Since you pay your premiums regularly to ensure that the claims are settled at the time of need, it is advisable to go with an insurer with a high claim settlement record.

You can check the claim settlement ratio of all the insurance companies from IRDAI — the insurance regulator’s website where this information is published every year. For instance, as per the latest data from the website, LIC has a claim settlement ratio of 98.04 per cent while other players — SBI Life and ICICI Pru Life — have a claim settlement ratio of 96.76 and 97.88 per cent respectively.

Read further by subscribing to

The Hindu Businessline

What You'll Get

  • Web + Mobile

    Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.


  • Exclusive portfolio stories and investment advice

    Gain exclusive market insights from the Hindu Businessline's research desk.


  • Ad free experience

    Experience cleaner site with zero ads and faster load times.


  • Personalised dashboard

    Customize your preference and get a personalized recommendation of stories based on your intrest.

This article is closed for comments.
Please Email the Editor