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Health Insurance Glossary

Claim Settlement Ratio

The claim settlement ratio is the ratio of total claims settled in a year to the total number of claims received by an insurer in a year, and it should be taken into consideration while choosing the best insurer from which to purchase a policy.

Claim Settlement Ratio (CSR) = (Total number of claims settled in a year / Total number of claims in a year) X 100

For instance, if an insurance provider receives 100 claims per year and resolves 95 of them, their claim settlement ratio is (95/100 * 100)% or 95%.

This ratio is published by Insurance regulator IRDAI.

Claims settlement ratio shows an insurer's credibility. The more claims are settled, the more reliable the insurer is.

One should be aware that the claim settlement ratio does not indicate whether a claim has been entirely or partially resolved before using it. Also, it doesn't indicate how quickly claims are resolved or how long it takes the insurer in total.

For more details check out our Claim Settlement Ratio Article

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