Universal Sompo Complete Healthcare Essential vs Niva Bupa ReAssure 2.0 Platinum+
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Introduction
Before we start comparing these two policies we have to set out some ground rules.
Both products are marketed by different insurance companies. Complete Healthcare Essential is sold by Universal Sompo and ReAssure 2.0 Platinum+ is sold by Max Bupa. So any meaningful comparison should include a comparison of the product alongside the insurers themselves.
Second, we know that both products have massive differences in their core structure. Complete Healthcare Essential is specifically designed for Maternity. However, ReAssure 2.0 Platinum+ is quite comprehensive. It offers considerable protection and it doesn't impose as many restrictions. So in many ways, you're comparing apples and oranges here.
And finally, any comparison is ultimately futile without considering the use case. Who are you buying this policy for? You, your family, your parents?
That's something you'll need to answer before using this guide. So with that introduction out of the way, we can get to comparing the actual policies themselves.
Let's start with Complete Healthcare Essential. The product comes from Universal Sompo's stable:
Universal Sompo General Insurance Company is a public-private venture floated by two nationalized banks (Indian Overseas Bank and Allahabad Bank), one private bank (Karnataka Bank), an FMCG giant (Dabur Investment Corporation), and a well-known Japanese insurance firm (Sompo Japan Nipponkoa Insurance Incorporation).
The insurer also sells 135 IRDAI approved products and boasts over 15,000 network hospitals with a claim settlement ratio of 89%. Needless to say, the company isn’t exactly stellar when it comes to processing claims.
ReAssure 2.0 Platinum+ meanwhile comes from Niva Bupa (erstwhile Max Bupa)'s stable:
Founded in 2008, Niva Bupa (erstwhile Max Bupa) is one of the leading health insurance companies in India. While they have had a bit of a tumultuous time with their promoters, they still sell an impressive suite of products across multiple categories.
And they also boast a claim settlement ratio of 93%, with a network of more than 10,000+ hospitals.
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Universal Sompo Complete Healthcare Essential vs Niva Bupa ReAssure 2.0 Platinum+
Compare Insurances Insurance Parameters Recommended Not Recommended | Universal Sompo Complete Healthcare Essential | Niva Bupa (erstwhile Max Bupa) ReAssure 2.0 Platinum+ |
|---|---|---|
| Network hospitals | 15000 | 10000 |
| Claim settlement ratio (avg. of last 3 years) | 89% | 93% |
| Co-payment | No | No |
| Room rent | Any Room | Any Room |
| Disease sub-limit | Yes | No |
| Pre existing diseases waiting | 3 years | 3 years |
| Pre/Post hospitalization | 30/60 days | 60/180 days |
| No claim bonus | 10% per year (up to 50%) | Available (max upto 500%) |
| Domiciliary | ||
| Ayush treatments | ||
| Restoration benefit | 100% restoration (once for different illness after complete exhaustion of sum insured) | 100% restoration (unlimited no. of times for any illness) |
| Health check-up | Once every year | Once every year |
| Maternity | Available (up to ₹25,000 after 3 years) | |
| Out Patient Department | Up to ₹5,000 (Annually) | |
| Day care |
Insurer Comparison
Universal Sompo settles 89% of the claims it receives, while Niva Bupa (erstwhile Max Bupa) settles 93%. Ditto looks for a claim settlement ratio of 90% and above. Niva Bupa (erstwhile Max Bupa) clears that comfortably, while Universal Sompo sits just short of it, which is worth weighing alongside the rest of the comparison.
What is the Claim Settlement Ratio (CSR)?
The Claim Settlement Ratio tells you what percentage of health insurance claims an insurer settled during a given year, out of the total claims it received. A CSR of 93% means the insurer paid out 93 claims for every 100 filed. Ditto uses a 3-year average to smooth out year-on-year fluctuations, and recommends insurers at 90% or above — anything below 85% is a red flag.
Incurred Claims Ratio
Universal Sompo pays out ₹95 in claims for every ₹100 it collects as premium. Niva Bupa (erstwhile Max Bupa) pays out ₹58. Ditto considers 55%-85% a healthy band. Universal Sompo sits above it, which can point to an unsustainable payout rate and future premium hikes. Unlike the claim settlement ratio, a higher incurred claims ratio is not automatically better.
What is the Incurred Claims Ratio (ICR)?
The Incurred Claims Ratio tells you how much of every rupee collected as premium was paid back to customers as claims. An ICR of 70% means the insurer paid out ₹70 in claims for every ₹100 of premium collected. Unlike CSR, a very high ICR is not necessarily good — it can point to an unsustainable payout rate and future premium hikes, while a very low ICR can indicate an insurer that is overly restrictive in settling claims. Ditto looks for an ICR between 55% and 85%.
For every 10,000 claims processed, Universal Sompo received 5 complaints and Niva Bupa (erstwhile Max Bupa) received 37. Fewer complaints usually mean smoother claim processing and better servicing, so Universal Sompo has the edge on this metric. Ditto looks for under 20 complaints per 10,000 claims from general insurers, and under 40 from standalone health insurers, since their claims are more complex.
What is the complaint volume?
Complaint volume shows how many customers formally complained per 10,000 claims processed. Fewer complaints generally mean smoother claim processing and better customer support. General insurers and Standalone Health Insurers (SAHIs) are judged against different baselines because SAHIs handle only health claims, which are more complex — Ditto looks for below 20 complaints for general insurers and below 40 for standalone health insurers.
Universal Sompo has 15,000 network hospitals and Niva Bupa (erstwhile Max Bupa) has 10,000. Both are past the 10,000-hospital mark Ditto recommends. A bigger network makes it easier to find cashless treatment near you, but it counts for little if your preferred hospitals are not on the list — so check that before you decide.
What are network hospitals?
Network hospitals are the hospitals an insurer has tied up with, where it settles bills directly so you get cashless treatment instead of paying out of pocket and claiming reimbursement later. The larger the network, the easier it is to find cashless treatment near you. Ditto recommends a network of 10,000+ hospitals, but a large network matters little if your preferred hospitals are not on it — always check.
Track Record
Universal Sompo has been operating since 2007 (19 years) and Niva Bupa (erstwhile Max Bupa) since 2008 (18 years). Both have the 10+ years of history Ditto looks for, which means there is enough data to judge how they behave at scale rather than just early on.
Why does the insurer’s track record matter?
India’s insurance sector was privatised in 2000, so most private players have been operating for 20-25 years. A company with just 3-4 years of data gives you very little to judge it on — numbers can look excellent early on and deteriorate sharply as the insurer scales. Ditto considers 10+ years ideal, and under 5 years a reason to proceed with caution.
Feature Comparison
With a co-payment clause, the insurer will mandate that you pay a part of the bill. So if the bill adds up to Rs. 2,00,000 and the co-payment is set at 20% then you could be asked to pay Rs. 40,000 from the bill. In this case, however, Complete Healthcare Essential doesn’t impose a co-payment clause. And neither does ReAssure 2.0 Platinum+.
If the policy does impose room rent restrictions then the insurer may only let you stay in a room of a certain specification or impose a cap on the total room rent. If you were to breach either criterion then the insurance company may ask you to pay a portion of all the expenses you incurred while staying in the room. In this case, however, Complete Healthcare Essential doesn’t impose any restrictions on the kind of room you can pick. And ReAssure 2.0 Platinum+ also doesn’t impose any restrictions on this front. You can pick any room you want.
Some policies will tell you that they will cover all medical expenses up until the sum insured, but then impose caps on the total costs you can incur while dealing with a very specific list of diseases. We call these caps “Disease Wise Sub Limits.” In this case, Complete Healthcare Essential imposes disease-wise sub-limits on modern treatments whereas ReAssure 2.0 Platinum+ doesn’t impose a disease wise sub-limit.
If you’re suffering from a lifestyle condition or if you’ve had surgery in the past, or if you’re dealing with an acute or chronic illness at the time of buying the policy, then the insurer may classify this as a pre-existing disease. And they may tell you that they will only cover these illnesses after some time. This cooling period is referred to as the Pre-existing-disease waiting period. In this case, Complete Healthcare Essential imposes a 3 year waiting period on pre-existing diseases and ReAssure 2.0 Platinum+ will similarly tell you to wait 3 years before making a claim related to your pre-existing diseases
Most people aren’t hospitalized right off the bat. Instead, they’ll have to go through a whole series of diagnostic tests before hospitalization and take medication post-discharge. These costs are outlined as pre-hospitalization expenses and post-hospitalization expenses respectively. In this case, Complete Healthcare Essential covers expenses incurred 30 days before hospitalization and expenses incurred 60 days post-hospitalization. Meanwhile, ReAssure 2.0 Platinum+ covers expenses incurred 60 days before hospitalization and expenses incurred 180 after hospitalization, although there may be different sub-limits
Some policies will tell you that they will incentivize you for not making a claim in any given year. And they offer such incentives by offering extra cover on top of the existing sum insured. This extra cover is categorized as a no-claim bonus. In this case, however, Both Complete Healthcare Essential and ReAssure 2.0 Platinum+ offer a no-claim bonus but the bonus may be capped at different levels.
Imagine you are forced to treat yourself at home because you don’t find a hospital bed, or you have a chronic condition that prevents you from visiting one, then, insurers may choose to cover your treatment even if you’re hospitalized at home. And such costs are collectively categorized as domiciliary treatment costs. In this case, however, Complete Healthcare Essential offers domiciliary cover. And ReAssure 2.0 Platinum+ also coves domiciliary expenses.
Most policies only cover treatments administered in a registered medical facility. However, on some occasions, you may want to pursue alternative treatments including homoeopathy, Ayurveda, Unani and Siddha. These treatments are collectively categorized as Ayush treatments. And in this case, Complete Healthcare Essential covers Ayush procedures and ReAssure 2.0 Platinum+ also extends coverage for Ayush treatments.
If you’re hospitalized during childbirth, then you may have to incur significant costs during delivery of your newborn, child care and other related matters during the course of the hospitalization. These costs are collectively termed maternity costs. And in this case, however, Complete Healthcare Essential offers maternity cover whereas ReAssure 2.0 Platinum+ doesn’t offer protection for maternity-related hospitalizations.
Doctor visits and regular consultations aren’t usually covered by health insurance policies. They are categorized as Outpatient consultations (or OPD treatments) and patients have to bear the cost on their own. In this case, however, Complete Healthcare Essential offers OPD cover whereas ReAssure 2.0 Platinum+ doesn’t offer OPD protection.
Final Conclusion
Since this isn't a fair comparison, to begin with, we will only tell you this much. If you want something that's comprehensive, you could go for ReAssure 2.0 Platinum+. However, if you are specifically looking to buy a policy for Maternity, then you may want to consider Complete Healthcare Essential.
Other Universal Sompo Complete Healthcare Essential Comparisons
Other Max Bupa ReAssure 2.0 Platinum+ Comparisons
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