SBI General Claim Settlement Ratio
  • CSR of SBI General Insurance
  • Importance of Claim Settlement Ratio
  • Claim Settling Process of SBI General
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SBI General Claim Settlement Ratio

Having Health Insurance these days is nothing less than a necessity. An ideal Health Insurance plan keeps you prepared for untoward circumstances. It ensures that your healthcare needs are protected by a financial pool of savings during the times when you have medical emergencies knocking hard on your door.

Let us suppose, that you bought the best health insurance plan for yourself, however at the time of need, your insurance provider was unable to settle your claims on time? What will happen to your family members if they cannot use the benefits of the health insurance they own? Your entire life savings might get depleted, leaving your family in a situation of financial crisis. 

To avoid such a scenario, it is recommended to always check the claim settlement ratio of an insurance provider before choosing a health insurance plan.

Now, emerges the question of what is a Claim Settlement Ratio? And, why does it hold so much importance when buying an insurance plan? Read along to find out the significance of a Claim Settlement Ratio.

Health Insurance Claim Settlement Ratio

Health Insurance Companies

SBI Health Insurance Network Hospital List

SBI Health Insurance Network Hospitals are present in 31 states across the country. With a wide network of hospitals, SBI Health Insurance ensures that you are medically safe regardless of the city you live in.

What is a Claim Settlement Ratio?

The claim settlement ratio, or popularly known as a CSR, is the percentage of claims settled by an insurance company over the total number of claims filed in a given financial year. The claim settlement ratio is the most important factor that serves as a parameter of trustworthiness of a particular insurance company.

It is suggested that you should always choose an insurance organization with a greater claim settlement ratio, since the higher the ratio, the more dependable the health insurance provider is. This component is an indicator of the insurer's capacity to pay claims and aids in understanding the insurer's history and performance. 

Lets further understand the process of evaluating a claim settlement ratio prior to buying a health insurance with the help of the given case study.

Mr. Sharma availed the health insurance from XYZ insurance company without checking the CSR of the same. After 4 months, Mr. Sharma’s daughter was diagnosed with a severe stomach infection. At the time of her treatment, his health insurance company was unable to settle claims on time due to its low claim settlement ability and this caused a great deal of financial strain on Mr. Sharma.

Had Mr. Sharma already considered checking the csr of his health insurance provider, he would have got to know beforehand that the company is not good in terms of settling claims. 

If you and your family have decided to buy health insurance from SBI Health Insurance company, then you must know and understand the SBI General Insurance Claim Settlement Ratio. 

According to the IRDAI Annual Report of 2021-22, the SBI Health Insurance Claim Settlement Ratio is 95.04%. As per the IRDAI Annual Reports of previous years, SBI is able to maintain its claim settlement ratio above 95% which shows that the company is very attentive to each of its customer’s needs. 

Claim Settlement of SBI Health Insurance from 2017-2021

Claim Settlement of SBI Health Insurance from 2017-2021

Take a look at the below given table to assess the SBI General insurance claim settlement ratio.

Status of SBI General Insurance Claim Settlement Ratio

Financial Year 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 5 years
Claims Settled 95.04 2.55 1.67 0.67 0.04 0.03

What is the Claim Process for SBI Health Insurance Plans?

There is a direct process to file SBI health insurance claims. Let's take a look at it.

  • Inform the company about the claim by dialing the toll-free number (1800 22 1111) or SMS 'CLAIM' to 561612.
  • The SBI customer representative will reach out to you with details of the required documents and further steps.
  • The SBI claims representative will connect with you within 24 hours of filing the claim.
  • Submit all the required documents.
  • The company will initiate the process and settle all relevant claims within 30 days of the final survey report.

Sbi Health Plans

Comprehensive Plan

A comprehensive health insurance plan that offers a 15% increase in cumulative bonus for every claim-free year and comes with 8 optional coverage options.

Unique Features

  • Bariatric Surgery cover
  • 573 Day Care procedures covered
  • Domestic Air Ambulance cover

Comprehensive/ Family Floater Plan

A policy designed to provide coverage to you and your family. Providing high SI of 30 lakhs, it covers maternity expenses to childbirth.

Unique Features

  • 12 advanced treatment procedures
  • Auto reinstatement of Sum Insured
  • No pre medical up to 55 years

Standard Plan

A standard health insurance plan that comes with a coverage of 10 Lakhs. Moreover, the plan comes with a 5% Co-pay, applicable on all the admissible claims.

Unique Features

  • Advanced Procedures covered
  • Lifelong renewals
  • Cumulative Bonus of 5%

Affordable Plan

SBI Retail Health Insurance Policy

A affordable health insurance plan that provides coverage of up to 5 Lakhs. The plan offers several add-on riders for enhanced coverage.

Unique Features

  • No pre-medical up to 45 years
  • Flexible plan options
  • Child care available

Top-up policy

The policy comes into action post exhaustion of your current health plan and provides affordable premiums with various benefits.

Unique Benefits

  • Maternity Expenses covered
  • Ambulance coverage up to 5K
  • Coverage up to 50 Lakhs

Critical Illness policy

The plan offers coverage against 13 critical illnesses & financial support irrespective of the actual medical expenses, & comes with two policy tenures enabling customization.

Unique Features

  • Entry Age upto 65 years
  • Free-look period of 15 days
  • Coverage of up to 10 Lakh

Hospital Daily Cash

SBI Hospital Daily Cash Insurance Policy

The policy provides a fixed amount to the claimant for each day of hospitalization and expenses like traveling, food, and much more.

Unique Features

  • 4 daily benefit amount options
  • Hospital confinement expenses
  • Convalescence expenses

Loan Insurance Policy

SBI Loan Insurance policy helps you to repay your outstanding loan in case you are a victim of any of the listed 13 critical illnesses/accidental death/unemployment.

Unique Features

  • No Medical Tests required
  • Sum Insured of Rs.1 Crore
  • Available for a maximum of 3 years

Health Insurance Articles

SBI Health Insurance Reviews

Read what our customers have to say about SBI health insurance company and SBI health mediclaim policy.

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June 7, 2022

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June 7, 2022

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kuljeet singh


March 14, 2022

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Dhiraj Khanna


February 17, 2022

This is a reliable company as they fulfill their promise to help during any medical emergency. I am satisfied with their services.

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Avantika Nagpal


October 12, 2021

Very amazing and helpful service offered by SBI Health. I am impressed by the way this company works.

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Rekha Tyagi


October 8, 2021

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Kuwali Rai


September 2, 2021

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Vishwanber Sharma


September 1, 2021

Satisfied with the purchased plan. Will recommend others to invest too. Policy X team has guided, so thanks for that too

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of 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 Insurance Web Aggregator.