Claim Settlement Ratio tells you the ability of the company to settle claims in the stipulated time period and helps you understand the history of the insurance company, thus ensuring that the insurer you select is reliable or not.
If in the set time period your company will not be able to settle claims, then the whole purpose of buying a plan from this company gets wasted.
Let's understand with the help of an example, Mr. Ravi availed health insurance from XYZ insurance company, but at the time of his wife's treatment his health insurance company is able to settle claims on time and this causes financial stress and burden among the family members. Therefore, before opting for a health plan, always ensure that your company's claim support is good.
According to IRDAI Annual Report of 2021-22, Reliance General Insurance Claim Settlement Ratio is 98.65%. The higher the percentage of claim support, the higher the ability of the company to settle claims.
Take a look at the below table to get an insight into the claim settlement ratio of Reliance General Insurance. The comparison of the Reliance Health Insurance Claim settlement ratio for the three financial years will help you evaluate the company's claim settling ability in the past years
Status of Reliance General Insurance Claim Settlement Ratio
Status of Reliance General Health Insurance Claim Settlement Ratio - 2021-22
Age Analysis of Number of Claims Paid (%)
< 3 months
3 months to 6 months
6 months to <1 year
1 year to <3 year
3 years to <5 years
Reliance Health Insurance Network Hospital List
Reliance Health Insurance Network Hospitals are present in 34 states nationwide. With a wide network of hospitals, Reliance Health Insurance ensures that you are medically secured, irrespective of the city you reside in.
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.