Network hospitals
18400+
Incurred claim ratio
74.27%
Sum insured
Up to 25 CR
No. of Plans
23
Solvency Ratio
3.6
Pan India Presence
240
Network hospitals
18400+
Incurred claim ratio
74.27%
Sum insured
Up to 25 CR
No. of Plans
23
Solvency Ratio
3.6
Pan India Presence
240
Bajaj Allianz health insurance claim settlement ratio is an indicator of the claims settled by Bajaj Allainz within a given time frame. Claim settlement ratio is important because higher claim settlement ratio indicates towards the company's reliability and prompt claim processing, instilling trust and reliability among policyholders. This ratio is calculated as the percentage of claims the company has paid out against the total outstanding claims during a financial year.
The claim settlement ratio of 96.59% (for 3 months) demonstrates Bajaj Allianz Health Insurance’s strong commitment to honoring the financial security of policyholders and their families in times of need. They have more than 800 network hospitals and were established in the year 2000, since then the company has rapidly grown to become one of the prominent insurance companies in India.
The company offers two types of claim settlement processes designed according to the needs of the customers:
Let's look into each one of these in detail:
These claims are simpler for the policyholder since they are quick and hassle-free, and do not require advance payments. The process for cashless claims with Bajaj Alliance is:
Step 1: Visit any of the Bajaj Allianz network hospitals.
Step 2: Once you notify the hospital about your health insurance, the hospital will send a filled pre-authorized form to the Health Administration Team (HAT) of Bajaj Allianz.
Step 3: After the company verifies all the submitted details, it will send the approval to the healthcare provider in 60 minutes. After this, you do not need to pay anything at the hospital.
Step 4: If by chance the insurer needs some further information, they will send a letter to the hospital asking for relevant details. If the cashless claim is denied, you can still get treated at the hospital and later file for a reimbursement claim with all the necessary information at hand.
Through reimbursement claims, the policyholder pays the hospital bills out of pocket before filing the claims with the insurer. The policyholder can visit any hospital of his choice and not necessarily the network hospital for getting a reimbursement claim. The steps for filing a reimbursement claim with Bajaj Allainz are as follows:
Step 1: After the completion of your treatment, collect all the documents and submit them to the BAGIC HAT i.e. Bajaj Allianz General Insurance Company Limited - Health Administrative Team.
Step 2: After the submission of the documents, the company will go through them and/or request for some more information from you if it is necessary or missing. If not, the company will initiate the claim via ECS within 7 working days.
Step 3: If you are unable to provide the requested information, the company will send you 3 reminders after the interval of 10 days. If you are unable to respond post these 3 reminders i.e. 30 days the company will reject the claim.
Bajaj Allianz Health offers a wide range of health insurance plans to fulfill the medical needs of individuals, families, and senior citizens.
A plan which covers you against major life-threatening diseases such as cancer, major organ transplant, heart attack, and more. The plan covers 10 critical diseases.
Unique Features
Bajaj Allianz Extra Care is a perfect health protection plan that offers financial support to you and your family. It is a floater Policy with a single premium for the family.
Unique Features
A super top-up health plan that provides additional coverage to the existing health insurance policy. The plan provides wider health protection to you and your family.
Unique Benefits
The plan offers wide coverage and comes at an affordable price and takes care of the most common vector-borne ailments.
Unique Features
Bajaj Allianz Personal Accident Plan is designed to protect you and your family from serious financial problems in case of death, and partial and total disability
Unique Features
A plan that covers Death, Permanent Total Disability, Permanent Partial Disability, and Temporary Total disability caused due to accidental injury.
Unique Features
Premium Personal Guard covers you and your family against bodily injury or death caused due to an accident and offers a high sum assured ranging from 10 lakhs to 25 lakhs
Unique Features
A unique insurance policy that covers loan borrowers providing comprehensive protection in the event of an unfortunate incident.
Unique Features
Saral Suraksha Bima offers a sum assured up to 1 Cr and offers optional covers for temporary Total Disablement and Hospitalisation Expenses due to Accident.
Unique Features
An all-in-one family floater policy that covers health, household contents, travel baggage and much more.
Unique Features
This plan provides comprehensive coverage for planned and emergency medical treatment within and outside India.
Unique Features
A Comprehensive Plan with a wide range of benefits, ensuring a cover for maximum expenses related to Illness and Accidents offering optional add-on benefits.
Unique Features
A plan designed for senior citizens offering cashless benefits or reimbursement for hospitalisation expenses due to illness or accident.
Unique Features
A floater health policy that covers out patient expenses (OPD) & hospitalization expenses under a single policy for self and spouse.
Unique Features
A comprehensive plan that takes care of medical expenses for you and your family in case of unfortunate event of hospitalisation for illness/ injury.
Unique Features
An affordable health insurance policy, Corona Kavach, takes care of your expenses at the time of hospitalization for COVID-19 treatment.
Unique Features
Hospital Cash Daily Allowance Policy guards you and your family against hospitalization expenses.
Unique Features
This is a Women Specific Critical Illness Plan that provides you protection against the risk of serious illness.
Unique Features
A group policy that takes care of you and your family and protects you from hospitalization expenses in case of any unfortunate incident.
Unique Features
Criti-Care plan covers over 43 critical illnesses and offers you to choose from a wide range of Sum Assured.
Unique Features
It takes 7 working days to settle the claims after the document submission.
As per the latest report 2021-22, released by IRDAI, The Bajaj health insurance claim settlement ratio is 96.59%.
The mobile application offered by the company is called "Bajaj Allianz GIC"
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Raj Kumar
Bhopal
October 16, 2023
Invested in a senior citizen health insurance with Bajaj Allianz for my parents and the coverage benefits are very helpful
Riya Chatterjee
Pune
October 9, 2023
Recently purchased a senior citizen plan from Bajaj Allianz and it provided my parents with wellness benefits and annual health check-ups that are useful for me as I stay away from my family.
Rishabh Singh
Chandigarh
October 9, 2023
Quick and efficient response from customer care of Bajaj Allianz when it comes to claim settlement queries.
Priyanka Kumari
Guwahati
October 9, 2023
Provides different options in health insurance and offers unique benefits. I purchased a maternity plan from Bajaj 2 years ago and now I am planning to start a family. Bajaj Allianz has been ve...
Smita Patil
Bengaluru
May 1, 2023
I have availed health insurance services from PolicyX in the year 2021 and I must say that they are reliable and have supported me with claim settlement without any delay.
Pawan
Delhi
June 6, 2022
Trust me, friends, Bajja is one of the best insurance companies in India. It offers good health insurance plans and its claim service is superb. I am very impressed by the work done by Bajaj Al...
Himanshi Nalwa
Pune
May 26, 2022
My claim was settled in no time... I went to a non-network hospital and Bajaj Allianz reimburse my claim within 2 days
Priya Singhania
Guwahati
May 26, 2022
I took the health insurance plan for my family. Bajaj Allianz is a nice company. Go for it. Thanks to Policyx.com, they helped me a lot.
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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