Reliance General Insurance Claim Settlement Ratio

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 2020-21, Reliance General Insurance Claim Settlement Ratio is  98.59%. 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

What is the Process to Claim Reliance Health Insurance?

Cashless Claim

• Get admitted to one of Reliance's partnered network hospitals in case of a medical situation.
• Intimate the company about your hospitalization as soon as possible.
• Submit the authorization form along with the photo identity and health card copies at the TPA hospital desk.
• The hospital will contact Reliance General for treatment approval.
• Once everything is settled, the company will clear the treatment bills.

Reimbursement Claim

• Here you have the option to get yourself treated at any hospital (apart from the network) and file for reimbursement.
• Inform the insurance provider about the hospitalization at the earliest.
• Pay for the treatment and collect all the necessary documents (original copy) before you leave the hospital.
• All original documents have to be submitted within 15 days of post-hospitalization treatment to get the reimbursement.
• The company will verify the claim request and transfer the payment on approval.