Home All Blogs

Claim Settlement Ratio (CSR) is one of the key parameters in choosing the best insurance plan. Higher claim settlement ratio means, higher the acceptance by the insurance company for the claims. Hence, individuals would prefer high claim settlement ratio insurance companies so that their claim is not rejected in the future.

IRDAI Report on Insurers’ Claim Settlement Ratio

IRDAI releases the claim settlement ratio of all life insurers every year. You should mandatorily check this data before deciding on the insurer. Claim Settlement Ratio of life insurer for the FY2018-2019 is listed here.

*Based on IRDA’s annual report 2019
Life insurance company name Total claims received Claims paid Claims settlement
(% of policies)
TATA AIA Life 2700 2675 99.07
HDFC STD Life 12946 12822 99.04
Max life 15087 14897 98.74
ICICI Prudential Life 10826 10672 98.58
LIC 750950 734328 97.79
Reliance Nippon Life 8371 8179 97.71
Kotak Life 3038 2959 97.40
Bharati AXA Life 1065 1036 97.28
Aditya Birla Sunlife 5260 5110 97.15
Exide Life (Previously ING Vysya Life) 3335 3236 97.03
DHFL Pramerica 656 635 96.80
Star Union 1258 1217 96.74
Aegon 507 489 96.45
PNB Met Life 4170 4012 96.21
Aviva 938 901 96.06
Edelweiss Tokyo 239 229 95.82
IDBI Federal 1306 1251 95.79
Future Generali 1157 1101 95.16
SBI Life 19902 18913 95.03
Bajaj Allianz Life 12767 12130 95.01
Canara HSBC OBC Life Insurance 1006 946 94.04
India First 2242 2081 92.82
Sahara Life 681 614 90.16
Shriram Life 2830 2414 85.30

When choosing the insurer, you must check the claim settlement ratio to get an idea of how efficiently and quickly the claims are processed by an insurer. Hence, claims ratio is to be seen along with rejection and outstanding ratio. A low-claim ratio may not mean a bad performance.