Claim Settlement Ratio is probably the most important factor
while buying insurance. This becomes even more critical for Life Insurance as
you would like your dependents to run pillar to post to claim your sum assured
in case of unfortunate death. The recently published Insurance Regulatory And
Development Authority - IRDA Annual report 2010-11 has the settlement ratio for
the following life insurance companies in India.
Please beware of companies whose claim settlement
ratio is below 90%.
|
Company
|
Claims settled
|
Claims Reputed
|
Claims Pending
|
|
|
LIC
|
97.03%
|
1.00%
|
1.46%
|
|
|
HDFC Life
|
95.41%
|
3.97%
|
0.61%
|
|
|
Birla Sunlife
|
94.66%
|
4.99%
|
0.35%
|
|
|
ICICI Prudential
|
94.61%
|
3.14%
|
2.25%
|
|
|
lNG Life
|
90.49%
|
3.53%
|
5.19%
|
|
|
Kotak Mahindra
|
89.30%
|
3.89%
|
6.81%
|
|
|
Bajaj Allianz
|
88.69%
|
7.08%
|
4.23%
|
|
|
Bharti AXA
|
87.17%
|
12.58%
|
0.25%
|
|
|
Metlife
|
85.43%
|
6.06%
|
8.30%
|
|
|
Aviva
|
84.15%
|
12.23%
|
3.62%
|
|
|
SBILife
|
82.24%
|
16.73%
|
1.03%
|
|
|
India First
|
82.01%
|
17.99%
|
0.00%
|
|
|
Tata AIG
|
81.93%
|
17.07%
|
1.00%
|
|
|
Reliance Life
|
81.36%
|
8.66%
|
9.85%
|
|
|
SUD Life
|
80.69%
|
1.38%
|
17.93%
|
|
|
Max New York
|
77.96%
|
14.90%
|
7.14%
|
|
|
Canara HSBC
|
71.02%
|
16.61%
|
12.37%
|
|
|
IDBIFedral
|
64.92%
|
21.00%
|
14.08%
|
|
|
Shriram
|
55.69%
|
25.87%
|
18.44%
|
|
|
Sahara
|
53.23%
|
14.39%
|
31.64%
|
|
|
Aegon Religare
|
52.31%
|
44.63%
|
3.08%
|
|
|
DLF Pramerica
|
51.22%
|
19.51%
|
29.27%
|
|
|
Future Generali
|
50.52%
|
21.53%
|
27.95%
|
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