Aviva Claim Settlement Ratio
  • 3 Steps Claim Process
  • Risk Management Ability
  • Remarkable CSR
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Aviva Life Insurance Claim Settlement Ratio

According to the IRDAI annual report for FY 2022-23, Aviva’s Claim Settlement Ratio set a remarkable benchmark of 98.39%. It indicates that the insurance company can settle claims without any hassle. Even the insurer offers a prompt and convenient process for settling claims. Typically, a CSR above 95% denotes that the insurance has good claim-solvability and risk management ability.

Check out the Aviva Life Insurance claim settlement ratio of the last four years.

Financial YearClaim Settlement Ratio
2019 - 202097.53%
2020 - 202198.01%
2021- 202298.39%
2022 - 202398.39%

Aviva Life Insurance Claim Settlement Process

With Aviva Life Insurance, you can settle your claim through the easy steps below:

  • Step 1 : Complete the claim form

    To register your claim, you must first fill out the form based on your claim type. The insurer offers different forms for claims against riders, death, hospital cash benefits, group term insurance, and gratuity. All details regarding client ID, policy number, policyholder name, etc., should be duly filled out.

  • Step 2 : Arrange for appropriate documents

    When making a claim, you need to share appropriate documents based on your claim type. Aviva Life claim assessors will inform you promptly if any document is pending or additional documents are required.

  • Step 3 : Hospitalization and Surgical Rider Benefit Claim

    Assume you need to file a claim for Hospitalization and Surgical Rider Benefit. In that case, you’ve to submit the medical bills and medical reports issued by the attending physician qualified under law to issue such a report.

  • Step 4 : Claim Processing and Settlement

    Once your claim application is verified, Aviva Life Insurance claim assessors will settle the claim within 45 days. The insurer gives the claim amount in claimant’s account for an instant payout.

Why Aviva Life Insurance is Best in the Claim Settlement Process?

Aviva Life Insurance has an easy and hassle-free claim settlement process. You can submit the claim by visiting the nearest branch office as well as online from the convenience of your home. Here are some of its features:

  • Easy Procedure

    Aviva Life Insurance claim center helps your nominee with all the necessary claim details in the event of your absence. Your nominee can submit a claim form online through the website or visit the nearest branch office to file a claim.

  • Trust

    Aviva Life Insurance’s impressive claim settlement ratio of 98.39% for FY 2022-23 denotes the insurer’s greater risk management ability and efficiency in settling policyholder claims.

  • Support

    The Aviva claim support team offers constant and instant support to customers with all queries and grievances. Their customer service team is always ready to serve the customers anytime and anywhere they need.

Documents required for Aviva Life Insurance Claim

Check out the documents you require for the Aviva Life Insurance claim.

Original policy documentsCurrent address proof of the claimant
Duly filled claim formBank details & canceled cheque
Application from the claimantDeath certificate of insured person
Photo ID proof of the claimantHospital discharge summary and postmortem reports

5 Ways to Avoid Aviva Life Insurance Claim Delays

  • Ensure the details you provided are correct and up-to-date.
  • Inform your insurer if there’s any change in your habits or lifestyle.
  • Keep the original documents ready.
  • Submit your claim on time because late registration can cause delays.
  • Make sure your policy premiums are paid on time.

Conclusion

The Aviva Life Insurance claim settlement ratio represents the insurer’s potential to settle registered claims and assist its customers with necessary financial aid. However, the previous five years of Aviva Life Insurance’s CSR presented a good claim solvability record. Therefore, the company can indeed be counted as reliable.

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Aviva Claim Settlement Ratio: FAQs

1. Who calculates the life insurance CSR in India?

The IRDAI (Insurance Regulatory and Development Authority of India) calculates the CSR of all life insurance companies. 23. They publish it annually in their report.

2. What are the reasons for the Aviva Life Insurance claim rejection?

Aviva Life Insurance claims are rejected due to false information, unpaid information, lapsed policy, undisclosed medical history, Etc.

3. How long does Aviva take to process a claim?

It may vary from claim to claim, but once the document & claim form are submitted, then the claim assessors will settle the claim within 45 days.

4. What is a good CSR?

Typically, a CSR above 95% describes that the insurance has good claim-solvability and risk management ability.

Life Insurance Companies

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Sahil Singh Kathait

Written By: Sahil Singh Kathait

A boy-in-squares bagging escapades of switching streets in groove & sensing musical airy-notes from 6 1". Under wayed nyctophile sketching the walls of life from the panorama of anime.

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