Best Health Insurance Company In India In Terms Of Customer Service And Claim Settlement Ratio

 Best Health Insurance Company In India In Terms Of Customer Service And Claim Settlement Ratio

Health insurance is an indispensable tool for managing your financial status during medical contingencies. Several health insurance companies are currently operating in India, offering various kinds of plans. Amongst such tough competition, the companies that settle the maximum number of claims and maintain the best customer service record is justified as the best health insurance company in India.

What is the claim settlement ratio?

A claim settlement ratio is a ratio of the total number of claims admitted or paid by the insurer as against the total number of claims received by the insurer. This data is not published by the IRDAI (Insurance Regulatory and Development Authority of India) for all insurers. Some insurers publish this data on their website, but others do not.

However, it is not foolproof data to judge the credibility of the best health insurance company in India. This data does not reveal the quantum of the claim, the time taken to pass the claim, etc. Although the Claim Settlement Ratio (CSR) is an important parameter to judge an insurer before opting for a life insurance plan from them, it is not the only aspect that needs to be considered.

The data that is published by the IRDAI on an annual basis is the Incurred Claim Ratio for general insurance companies.

What is Incurred Claim Ratio?

The incurred claim ratio is the total amount of claims paid by the insurer as against the total amount of premium collected by the insurer from the policyholders. If this data is more than 100%, then it means that the insurance company is incurring a loss, and if it is low such as 50-60%, it simply means that the insurance company is overcharging its customers. A good incurred claim ratio would be about 80-90%, wherein it is considered to be profitable as well as fair to its customers.

List of 6 Insurers and their claim settlement:

In this article, we have highlighted some of the best health insurance company in India that have settled the maximum number of claims and maintained impressive customer service support.

  1. HDFC ERGO Health Insurance:

    Formerly known as Apollo Munich, HDFC ERGO has grown to be one of the most trusted health insurance companies in the country, maintaining a satisfied customer base of 1.5 crores. The health plan covers hospitalization costs, medical costs, daycare procedures, ambulance charges, Ayush benefits, etc. It maintains over 13000 network hospitals across the country for cashless claim settlements. Their plans off lifelong portability and renewability options. It is one of the best health insurance company in India.
  2. Star Health Insurance:

    This is the first Indian standalone health insurance providing company that entered the industry back in 2006. The brand is noted for its exceptional customer-friendly support system through innovative products and impeccable liaison with multiple banks. This insurance provider is noticeable for settling over 90% of claims and that too within two hours of raising the claim.

    Currently, there are over 11000 network hospitals maintained by Star Health, with over 640 branches in the country. Back in 2020, the insurance company was awarded the “Most Innovative Product of the Year” award and definitely qualified as one of the best health insurance company in India.
  3. Bajaj Allianz General Insurance Company Limited:

    It is a prestigious name in the health insurance sector, maintaining a strong network of over 6500 hospitals for easy availability of cashless treatments. The core team of the company promises to settle each valid claim through their exclusive claim settlement procedure. They offer a wide range of health insurance plans catering to your varied requirements. Each of these plans offers a comprehensive coverage scope with premium affordability features.
  4. Care Health Insurance:

    It was previously known as Religare Health Insurance, which covers several critical ailments like heart and kidney issues, cancer, etc. It offers multiple benefits like room rent, ambulance charges, NCB, pre-and-post-hospitalization charges, tax benefits, occasional medical check-ups, etc. It proudly maintains a claim settlement ratio of 95.2%, maintaining a hospital network of over 16500 for cashless claim settlement spread across the country.
  5. Manipal Cigna Health Insurance:

    Formerly known as Cigna TTK Health Insurance, Manipal Cigna maintains one of the widest hospital networks of cashless treatment of over 6500. It approves approximately 96% of the cashless claims raised and settles them within a couple of hours. So far, it has settled nearly claims worth INR 924 crores. You can avail of several customized plans designed by the company required at differing life stages.

    Their primary focus is to implement further improvement of the overall well-being of each of their customers by ensuring standard health care at affordable costs. It maintains a special health rewards program for its customers.
  6. New India Health Insurance:

    This is a multinational general insurance company owned by the Indian government. It is especially noted for the Mediclaim policy. The company deals with non-life insurance businesses and operates in over 28 countries. It has over 1200 network hospitals and maintains an impressive claim settlement ratio of 84.19% back in 2020-21.

Importance of good customer support

Each policyholder opts for a health insurance plan for smooth processing of the claim, and that is only possible when the customer support department of the insurer works impeccably. Each insurer has a dedicated team with a toll-free number for raising concerns and claims and an email for lodging all complaints and requests. In fact, each insurer has an escalation matrix as well for their claims and complaints, and requests for all policyholders. All such details are available on the official website of each insurer.


The above discussion highlights the best health insurance company in India. Each company has its own pros and cons, although none of them fails to satisfy the customers.


  1. Can I pay the health insurance premiums in installments?

Yes, depending on the terms of the plan, you can pay health insurance premiums in installments on a monthly, quarterly, half-yearly, or annual basis.

  1. Are maternity and pregnancy-related costs covered by health insurance plans?

It depends on the terms of the policy and varies from one company to another. The plans which cover them are comparatively more expensive than standard plans.

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