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Incurred Claim Ratio of Care Health Insurance
The incurred claim ratio (ICR) is the total claim amount paid by an insurance company in proportion to the total premium amount collected in a financial year.
Analysing the incurred claim ratio of multiple health insurance companies will help you choose the best company for your health policy. A higher ICR percentage indicates the company’s credibility towards its insured members.
The incurred claim ratio of Care Health Insurance is 64.53% (FY2024), which falls within the ideal range for health insurers. This page provides a detailed overview of Care Health Insurance's ICR.
Care Health Insurance's Incurred Claim Ratio
According to IRDAI's financial year 2025 reports, Care Health Insurance's incurred claim ratio was 64.53%. For more information on Care Health Insurance’s incurred claim ratio and other related data, you can click here.
How the Incurred Claim Ratio of Care Health Insurance is Calculated
The incurred claim ratio is calculated using the following formula:
ICR = (Net claims paid) / (Net premiums collected)
For example:
If Care Health Insurance collects INR 100 Crores in premiums annually and pays INR 64.53 Crores in claims, its incurred claim ratio would be:
ICR = (64.53/100) X 100 = 64.53%
Thus, Care Health Insurance's ICR in this example is 64.53%.
Differences Between Claim Settlement Ratio and Incurred Claim Ratio
| Specifications | Claim Settlement Ratio | Incurred Claim Ratio |
|---|---|---|
| Based on paid claims (formula) | The ratio of total claims settled and total claims filed (to the insurer) | The ratio of total claims paid and total premiums received (by the insurer) |
| Ideal ratio | 90% to 100% (the higher, the better) | 50% to 80% or more (higher ICR means higher credibility of the insurer) |
| Tool of consideration | Time taken for settling a claim is not a mandatory factor | The time taken to pay out the claims to the insured is considered |
| What does it mean about the insurer? | Shows the frequency of the insurer to settle yearly claims | Signifies the financial capability of the company and how much it can provide to its policyholders |
How the Incurred Claim Ratio Helps Choose the Right Health Insurance Plan
The Incurred Claim Ratio (ICR) indicates the proportion of premiums an insurance company pays out as claims.
A healthy ICR suggests the insurer regularly settles claims and maintains financial stability. Typically, an ICR between 50% and 80% is considered ideal.
With an ICR of 64.53%, Care Health Insurance falls within this ideal range, demonstrating its capability to settle claims.
However, ICR alone does not guarantee claim approval. Always review policy coverage, waiting periods, and exclusions before purchasing a health insurance plan.
Conclusion
The incurred claim ratio is a crucial factor in understanding a health insurance company's financial health and its ability to settle claims. Have questions? Our experts are here to help.
Call us at 1800-4200-269 for any queries related to Care Health Insurance's incurred claim ratio or other health insurance concerns.
