Health and general insurance claim settlement: 5 fastest and 5 slowest insurers to settle claims within 3 months

IRDAI's 2023-24 handbook on Indian insurance statistics reveals the claim settlement performance of all Indian insurers. Navi recorded the highest claim settlement ratio at 99.97%, while Acko also showed impressive speed. However, correspondingly, their incurred claims ratios vary significantly, raising questions about claim payouts versus premiums collected. Stand-alone health insurers like Star Health have lower claim settlement and incurred claims ratios, emphasizing the need for comprehensive policy evaluation.