Health Insurance Companies
PX step

Get Quotes From Top Insurers

1

2

Name
Cover For
D.O.B (eldest member)

1

2

Phone No.
City

By proceeding you are accepting our T&C and privacy policy

Health Insurance Companies

Today, the market is bombarded with several health insurance companies, each having a wide range of benefits. Now, the question arises- which is the best health insurance company for you? To answer this, we at PolicyX.com, have prepared a list of 26 health insurance companies along with the details of their CSR, solvency ratio, and cashless hospitals. Let’s check them out.

Best Health Insurance Companies

Best Health Insurance Providers In India

1. Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company of India was established in the year 2006. The company has maintained a good reputation in the market due to its hassle-free claim settlement process. Recently, the company has been awarded Dun & Bradstreet BFSI Summit & Awards in the year of 2019 for being 'India's Leading Insurance Company of the Year.'

Know More About - Star Health and Allied Insurance

Headquarters

Chennai

Incurred Claim Ratio (As per the IRDA report 2018-19)

63%

Cashless Hospitals

9900+

Solvency Ratio

1.61

**Last Updated on 17-12-2020

2. Future Generali India Insurance Company Ltd

Future Generali India Insurance Company Ltd was established in the year 2007 and is in collaboration with Future Group, among the leading businesses and Assicurazioni Generali of Italy. The company offers effective and advanced plans to its customers with loads of benefits and features according to their requirements during hospitalization.

Know More About - Future Generali India Insurance Company Ltd

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

73%

Cashless Hospitals

5100+

Solvency Ratio

1.64

**Last Updated on 17-12-2020

3. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited was founded in the year 2001. It is a joint venture between Bajaj Finserv Limited held by the Bajaj Group and Allianz SE in Germany. The company caters to individuals across the country with offices in over 1100 towns and cities and offers a wide range of products and services.

Know More About - Bajaj Allianz General Insurance Company Limited

Headquarters

Pune

Incurred Claim Ratio (As per the IRDA report 2018-19)

85%

Cashless Hospitals

6500+

Solvency Ratio

2.77

**Last Updated on 17-12-2020

4. ManipalCigna Health Insurance Company

ManipalCigna Health Insurance Company was incorporated in the year 2014, previously known as Cigna TTK Health Insurance Company. It is a joint venture between Cigna, the global business group for insurance, and TTK Group (an Indian giant). The company focuses on producing effective plans for individuals and families.

Know More About - ManipalCigna Health Insurance

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

62%

Cashless Hospitals

Available

Solvency Ratio

1.92

**Last Updated on 17-12-2020

5. National Insurance Company Limited

National Insurance Company Limited is a public health insurance company that was established in 1906. The company was nationalized in 1972 and has become one of the leading insurance providers in India. It consists of several policies for all sectors of society to fulfill their requirements.

Know More About - National Health Insurance

Headquarters

Kolkata

Incurred Claim Ratio (As per the IRDA report 2018-19)

107.64%

Cashless Hospitals

Available

Solvency Ratio

1.17

**Last Updated on 17-12-2020

6. IFFCO Tokio General Insurance Company Limited

IFFCO Tokio General Insurance Company was founded in the year 2000. It is an effective health insurance company and a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Tokio Marine Group. The company sells a wide range of general insurance products, which can assist you during tough times.

Know More About - Iffco Tokio Health Insurance

Headquarters

Gurugram

Incurred Claim Ratio (As per the IRDA report 2018-19)

102%

Cashless Hospitals

5000+

Solvency Ratio

1.64

**Last Updated on 17-12-2020

7. New India Assurance Company Limited

The New India Assurance Company Limited is a public insurance company that operates in 28 nations. The company was founded in 1919 and it owns around 2395 offices in India. This company offers great products at affordable prices.

Know More About - New India Health Insurance

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

103.74%

Cashless Hospitals

Available

Solvency Ratio

2.39

**Last Updated on 17-12-2020

8. Oriental Insurance Company Limited

The Oriental Insurance company was founded in 1947 and since then, it is offering multiple healthcare products and laying down a smooth system for the better convenience of customers. Know More About - Oriental Health Insurance

Headquarters

New Delhi

Incurred Claim Ratio (As per the IRDA report 2018-19)

108.80%

Cashless Hospitals

Available

Solvency Ratio

1.49

**Last Updated on 17-12-2020

9. Reliance General Insurance Company Limited

It was founded in 2000 & is one of the leading general insurance companies (private sector) in India. The company deals with various needs of customers through a wide range of products related to motor, health, travel, and commercial.

Know More About - Reliance Health Insurance

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

14%

Cashless Hospitals

7300+

Solvency Ratio

1.64

**Last Updated on 17-12-2020

10. United India Insurance Company Limited

United India Insurance Company Limited was established in 1938 and got nationalized in 1972. The company offers a needful insurance cover to around 1 crore policyholders. It has a wide range of health insurance products that are suitable enough to meet everybody’s needs.

Know More About - United India Health Insurance

Headquarters

Chennai

Incurred Claim Ratio (As per the IRDA report 2018-19)

110.51%

Cashless Hospitals

Available

Solvency Ratio

1.44

**Last Updated on 17-12-2020

11. Royal Sundaram Alliance Insurance Company Limited

Royal Sundaram Alliance Insurance Company Limited is the first Indian private sector general insurance company to be licensed in October 2000 by the IRDAI. It is a joint venture between Sundaram Finance (the most respected non-banking financial institutions of India) and RSA (the second-largest general insurer in the UK).

Know More About - Royal Sundaram Health Insurance Plans

Headquarters

Chennai

Incurred Claim Ratio (As per the IRDA report 2018-19)

61%

Cashless Hospitals

Available

Solvency Ratio

1.98

**Last Updated on 17-12-2020

12. Tata AIG General Insurance Company Limited

TATA AIG was founded in 2001 & is a renowned name in the general insurance industry of India. It is a joint venture between the Tata Group and the renowned American International Group (AIG). At present, Tata AIG General Insurance Company is offering a wide range of general insurance products that include health, motor, travel, etc.

Know More About - Tata Aig Health Insurance

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

78%

Cashless Hospitals

5800+

Solvency Ratio

1.81

**Last Updated on 17-12-2020

13. Cholamandalam MS General Insurance Company Limited

Cholamandalam MS General Insurance Company Ltd. was founded in 2001. It is a collaboration between Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan. It is a private insurance company that offers a wide range of insurance products that includes accident, health, marine, property, travel, and rural insurance for both individuals and corporate. The company has 136 branches in PAN India.

Know More About - Cholamandalam Health Insurance

Headquarters

Chennai

Incurred Claim Ratio (As per the IRDA report 2018-19)

35%

Cashless Hospitals

Available

Solvency Ratio

1.60

**Last Updated on 17-12-2020

14. HDFC ERGO General Insurance Company Limited

HDFC ERGO General Insurance Company is a joint venture between HDFC Limited & ERGO International AG. The company offers a variety of health insurance products, which can easily match the requirements of customers related to health, travel, motor, home, and personal accidents. With 200+ branches spread across 170 Indian cities, HDFC caters to the needs and requirements of a policyholder and offers 24*7 customer support services.

Know More About - HDFC ERGO General Health Insurance

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

62%

Cashless Hospitals

10000+

Solvency Ratio

1.95

**Last Updated on 17-12-2020

15. Universal Sompo General Insurance Company Limited

Universal Sompo General Insurance Company Limited was established in 2007. It is a joint venture between Allahabad Bank, Karnataka Bank, Indian Overseas Bank, Dabur Investment Corporation, and Sompo Japan Nipponkoa Insurance Inc. The company offers an extensive range of healthcare products & also deals in motor and commercial insurance.

Know More About - Universal Sompo General Insurance

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

92%

Cashless Hospitals

Available

Solvency Ratio

2.17

**Last Updated on 17-12-2020

16. Bharti AXA General Insurance Company Limited

Bharti AXA General Insurance Company was incorporated in 2008. The company is a joint venture between Bharti Enterprises of India, a pivotal Indian business group, and the AXA group of Europe, a world leader in financial protection. It is the first general insurance company that carries dual certifications of ISO 27001:2005 & ISO 9001:2008 within the first year of its operations.

Know More About - Bharti Axa General Insurance

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

89%

Cashless Hospitals

4500+

Solvency Ratio

1.77

**Last Updated on 17-12-2020

17. SBI General Insurance Company Limited

SBI General insurance company is a joint venture between the Insurance Australia Group (IAG) & State Bank of India. At present, SBI General Insurance Company is providing coverage against travel, health, motor, personal accident, and home insurance for individuals and group personal accidents, group health, marine package, construction & engineering for businesses.

Know More About - SBI General Insurance Plans

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

52%

Cashless Hospitals

6000+

Solvency Ratio

2.37

**Last Updated on 17-12-2020

18. Raheja QBE General Insurance Company Limited

Raheja QBE General Insurance Company Limited was founded in 1938 and is a joint venture between Rajan Raheja Group and QBE Insurance. This insurance company offers an effective line of healthcare products that are designed to go well with the different needs of consumers.

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

33%

Cashless Hospitals

5000+

Solvency Ratio

4.04

**Last Updated on 17-12-2020

19. Max Bupa Health Insurance Company Limited

Max Bupa Health Insurance Company is a well-known brand that provides a wide range of products to cater to the different needs of consumers. It is a joint venture between Max India Limited and UK-based Bupa Finance PLC. The perfect mixture of global expertise and local knowledge in healthcare & insurance makes Max Bupa the best option when it comes to protecting your family’s health.

Know More About - Max Bupa Health Insurance Company

Headquarters

New Delhi

Incurred Claim Ratio (As per the IRDA report 2018-19)

54%

Cashless Hospitals

5000+

Solvency Ratio

1.81

**Last Updated on 17-12-2020

20. Care Health Insurance Company Limited (formerly known as Religare Health Insurance Company Limited)

Care Health Insurance Company Limited is primarily engaged in providing different health insurance products as per one’s requirements. The company was declared as the 'Best Health Insurance Company' at the ABP News-BFSI Awards & 'Best Claims Service Leader of the Year – Insurance India Summit & Awards. It’s one of the trusted insurance providers in the market.

Know More About - Care Health Insurance Plans

Headquarters

Gurgaon

Incurred Claim Ratio (As per the IRDA report 2018-19)

55%

Cashless Hospitals

8250+

Solvency Ratio

1.54

**Last Updated on 17-12-2020

21. Liberty Videocon General Insurance

Liberty Videocon General Insurance was established in the year 2013. The company is the joint venture between Videocon Group and the US-based Liberty Mutual Insurance Group. It is a popular general insurance company that popularly deals in a two-wheeler, private car, and health insurance. It has managed to open 110 offices across 95 cities.

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

82%

Cashless Hospitals

5000+

Solvency Ratio

2.48

**Last Updated on 17-12-2020

22. Magma HDI General Insurance Company Limited

Magma HDI General Insurance Co Ltd. is a well-known general insurance company, which is a joint venture between Magma Fincorp Ltd, Kolkata, and HDI Global SE Germany. It offers a wide range of effective healthcare plans and several other products like fire insurance, motor insurance, marine insurance, engineering insurance, and others.

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

90%

Cashless Hospitals

4300+

Solvency Ratio

1.78

**Last Updated on 17-12-2020

23. Aditya Birla Capital 

Aditya Birla Health Insurance is a joint venture between the Aditya Birla Group and MMI Holding Limited.  With more than 800 branches across the country, Aditya Birla Capital caters to the different insurance needs of the individuals.

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

59%

Cashless Hospitals

7000+

Solvency Ratio

2.145

**Last Updated on 17-12-2020

24. Kotak Mahindra Health Insurance

Kotak Mahindra General Insurance Company offers a comprehensive range of healthcare products that allows the customers to choose the best one as per their needs. It has several branches across the country and has employed an army of agents to serve its customers.

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

47%

Cashless Hospitals

Available

Solvency Ratio

2.23

**Last Updated on 17-12-2020

25. Digit General Insurance

Headed by Mr.Kamesh Goyal, Digit General Insurance has bagged the Top Indian Startup Award in 2019. In 2019, the company sold more than 10 lakhs policies, turning out to be one of the solid insurance providers in the market.

Headquarters

Bengaluru

Incurred Claim Ratio (As per the IRDA report 2018-19)

11%

Cashless Hospitals

5900+

Solvency Ratio

4.17

**Last Updated on 17-12-2020

26. Edelweiss General Insurance

It’s one of the popular health insurance providers in the market. As a part of the Edelweiss Group, it has a huge responsibility to deliver the best to its customers and it does so with ease.

Headquarters

Mumbai

Incurred Claim Ratio (As per the IRDA report 2018-19)

115%

Cashless Hospitals

Available

Solvency Ratio

2.34

**Last Updated on 17-12-2020

Which Factors Will Help You Decide The Perfect Healthcare Provider?

With so many providers in the market, you may run into turmoil while deciding the best among them. Comparing their benefits may help you but the real trophy lies in their performance. To understand that, you will require the help of the below-listed factors.

  • Claim Settlement Ratio : It is the most important thing that you should look for while judging an insurance provider. You invest in a health insurance plan to get the required financial assistance in case of a medical emergency. But what if your claim is rejected? An insurance company’s claim settlement ratio reflects the proportion of claims settled by it against the total claims raised. Thus, always opt for the insurance company with a higher ratio means that there are higher chances of getting your claim approved in the time of need.
  • Solvency Ratio: It refers to the proportion of liabilities. A higher solvency ratio means that the insurers have a higher proportion of asset holdings. It will be good news for customers as in the case of bulk claims, the company will have enough resources to pay off the claims to the customers.
  • Claim Settlement Procedures: While getting a claim settled, it is very important to go for a smooth claim settlement process. Choose a company that offers simple procedures and options. For example, less claim formalities = more time saved & less effort.
  • Network Hospitals: It is such a blessing to have cashless hospitals where you can avail of cashless hospitalization. It is very important to check the list of network hospitals to locate the ones you prefer in your area. Ideally, a good insurance company should carry a long list of network hospitals.
  • Business Volume: Business volume refers to the total number of policies that are sold by an insurance company and the premiums collected. An insurance company with a higher business volume is the one who is trusted by individuals and has a larger market share. This can also be a parameter for judging health insurance companies.
  • Variety of Plans: Buying a product/service with minimal research will make you want for more. That's why it is important to explore all options before zeroing in on the plan. Health providers offer different plans to target/satisfy the different needs of their customers. Choose the one that makes you happy.

The above factors will assist you to choose the best health insurance company, which can go well with your needs. So, make an informed decision to protect your health and secure your future.

Health Insurance FAQ's

1. How can I port from one health insurance provider to another in India?

You will be required to contact the respective company in which you want to port your health insurance.

2. Which health insurance company covers insulin expenses in India?

Many insurance providers cover the diabetes expenses of the policyholders. For insulin expenses, it’s better to consult with your provider before making a purchase.

3. Is health insurance provided by the employer more convenient than the personal ones?

Even if you have health insurance (given by your employer), you should avail of personal health insurance for better coverage.

4. Will I be able to avail of tax benefits if I buy health insurance?

Yes! Under Section 80D of the Income Tax Act, 1961, you grab tax benefits by paying a premium for health insurance.

5. How many types of Health Insurance are available in the market?

As per one’s medical requirements, one can invest in:

  • Individual Health Insurance Plan
  • Family Floater Health Insurance Plan
  • Senior Citizen Health Insurance Plan
  • Critical Illness Insurance Plan
  • Maternity Health Insurance Plan
  • Group Health Insurance Plan
  • Personal Accident Insurance Plan

Last updated on 17-12-2020