Health claim settlement ratio is defined as the claims that the insurance company settles in, to the total number of claims filed during the policy term of the financial year. The higher the claim ratio, the more the company's ability to settle the claim requests. The claims settlement ratio is calculated as a percentage, this makes it easier for the customer to compare the reliability of the insurance company in the market.
As a claim ratio between 85% and 95% is considered good, Royal Sundaram Health Insurance has a claim settlement ratio of 95.95% (2021-2022), which makes it one of the most suitable options. Currently, the company has more than 7000 network hospitals. It was formed in the year 2000. Royal Sundaram Health Insurance Company offers a hassle-free claim settlement process. Let us have a look at the types of claims settlement process in the next section.
Royal Sundaram Health Insurance Claim Settlement is a quick and less time taking process, designed for the convenience of the customer, there are two ways a policyholder can claim for health policies they are:
The company has a simple, app-based claim process to make the customers' experience good. The policyholder can contact the company for a claim, submit their documents, and check their claim status easily on their customer app’M-Chatra’ and on their official website as well. Here is how Royal Sundaram Health Insurance Cashless Claims are made.
A reimbursement claim is one in which the customer pays the medical expenses for his treatment in the hospital and later requests reimbursement against the cost incurred, and later on, approval the money is transferred to the bank account of the customer.
A customer can file a reimbursement claim at both, network and non-network of Royal Sundaram Health Insurance Company. Here are the steps for the reimbursement claim process.
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