New India Assurance Company's claim settlement ratio

orangebutterfly988

The claim settlement ratio of New India Assurance Company is quite high and this makes it a good choice for those who are looking for an insurance company. The company has a good reputation and is known to settle claims quickly.

jayanth_gupta

The claim settlement ratio of New India Assurance Company is 97.21% for the financial year 2019-20. This is one of the highest claim settlement ratio among all the general insurers in India.

The Claim Settlement Ratio of a general insurance company is an indicator of its performance and indicates the company's capability and commitment to honoring policyholders claims. It is the number of claims settled against the total number of claims received during a fiscal year. A higher ratio indicates a better performance, which in turn reflects the insurer’s sound financial standing.

New India Assurance Company has maintained a steady claim settlement ratio of 97.21%, irrespective of the increase or decrease in the number of claims settled during the past years. This is the result of their strong capital base and prudent underwriting practices. As per the last reported results, they settled over 00,000 claims out of a total of 4.0 lakh claims.

You can view their detailed financial performance report and other related information here:
https://www.newindia.co.in/Documents/

brijesh_shenoy

The claim settlement ratio of New India Assurance Company is quite high at 97.42%. The company has managed to maintain this ratio consistently over the past few years. It stood at 97.51% for FY17-18 and 97.43% for FY18-19.

Here are some of the reasons why New India Assurance has such a high claim settlement ratio:

Quick and easy claim filing process: The company has a well-structured claim filing process which makes sure that all claims are filed within the shortest time frame and the customers have minimum paperwork to do.
Solvent and Balanced Fund: The company always maintains a strong fund to ensure that the claims are paid within a reasonable time.
Quality of personnel: The personnel employed by the company are highly experienced and knowledgeable in their domain. They ensure that all claims are settled smoothly and efficiently.
Guidelines: The company has a well-defined set of guidelines and regulations to be followed while settling claims. This ensures quality service and faster settlement of the claim.

Overall, New India Assurance is a great company to go to for quality insurance solutions. The company’s commitment to meet the customers’ needs and provide the maximum benefit is evident from their claim settlement ratio. You can read more about their performance and services here: https://www.newindia.co.in/inv/supervision-review/performance-report.