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31st January 2017, 06:10 PM
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Join Date: Mar 2013
Re: IRDA Data Claims

Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory agency tasked with regulating and promoting the insurance and re-insurance industries in India.

As you asking I am telling IRDA Claim Settlement Ratio , so here I am telling same :

Claim Settlement Ratio 2015-16 up to 31st March, 2016

Green-Claim Settlement Ratio from 90% to 100%

Yellow-Claim Settlement Ratio from 80% to 89%

Red-Claims below 79%.

You notice that among total 24 Life Insurance Companies, around 12 companies are in GREEN (Claim Settlement Ratio above 90%).

Total 10 companies are in YELLOW (Claim Settlement ratio between 80% to 89%).

Total 2 companies are in RED (Claim Settlement Ratio below 80%).

# Star Union‘s last year the claim settlement ratio was 94%. Hence, I intentionally flagged it RED. Now see this year’s result. It’s claim settlement ratio dropped to 81%. A drop of 13%.

# Reliance Life is one more big changes. Last year the claim settlement ratio was 84%. But this year, it jumped to 94%.

# PNB Met Life‘s last year’s claim settlement was 93%. But this year, it dropped to 85%. A change of 8%.

# Birla Sun Life‘s last year’s claim settlement was 95%. But this year, it dropped to 88%. A change of 8%.

# IDBI Federal Life‘s last year’s claim settlement was 76%. But this year, it increased to 85%. A change of 9%.

# Aegon Religare Life‘s last year’s claim settlement ratio was 90%. But this year, it increased to 95%. A change of 5%.

# Edelweiss Tokio‘s last year’s claim settlement ratio was 60%. But this year, it increased to 85%. A change of 25%.

# DHLF Pramerica’s last year’s claim settlement ratio was 57%. But this year, it increased to 84%. A change of 27%.


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