Tata AIG

Tata AIG General Insurance Company Limited started its operations in India on 22 January 2001 and is a joint venture between the Tata Group and American International Group, Inc. (AIG). The Tata Group holds 74 per cent stake in the insurance venture whereas AIG holding the balance 26 percent. The company provides insurance to individuals and corporates. The company offers various insurance products like automobile, home, personal accident, travel, energy, property etc.

Main features

• Claim settlement ratio:90%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:53.81%
• Network Hospital for Cashless Transaction:2000 Hospitals
• Maturity Age:4 Years
• Premium per month(starting):3757 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Tata AIG Network Hospital is not good. .You can use cashless facilities at only 2000 Hospitals which is less than other insurance company. Cashless facility is very useful as without spending a single paise your bill will be paid by insurance companies
• Incurred Claim Ratio:Horrible.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both

Star Health and Allied

Star Health Insurance is a joint venture by ICICI Ventures Funds Management, Sequoia Capital, Tata Capital Growth Fund, Alpha TC Holdings Pte Ltd(Singapore) and Oman Insurance Company (UAE). It was founded in 2006 and India’s first stand-alone insurance company which provides for hassle free and direct claim settlement facilities.

Main features

• Claim settlement ratio:79%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:53.81%
• Network Hospital for Cashless Transaction:6000 Hospitals . Network Hospital is awesome.You can avail cashless faicilities of Star Health and Allied as they have 6000 linked network Hospitals
• Maturity Age:4 Years
• Premium per month(starting):5842 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Incurred Claim Ratio:Horrible.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both

Reliance

Reliance General Insurance Company Limited is mostly known as a leading private general insurance company in India and is a part of Reliance Group. It offers a multitude of insurance products in health insurance, motor insurance, home insurance and travel insurance. The company provides its customers an easy way to access its wide array of products through a 24x7 call center and a website.

Main features

• Claim settlement ratio:87%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:95.87% , Awesome.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both
• Network Hospital for Cashless Transaction:4000 Hospitals
• Maturity Age:6 Years
• Premium per month(starting):5404 Rs
• Customer Service 1 star
• Staff Attitude:1 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Reliance Network Hospital is not good. .You can use cashless facilities at only 4000 Hospitals which is less than other insurance company. Cashless facility is very useful as without spending a single paise your bill will be paid by insurance companies

ICICI Lombard

ICICI Lombard Health Insurance under ICICI Lombard General Insurance offers best service with good no. of network hospital list and better claim ratio. The Insurance Company is a JV between ICICI Bank Limited from India and Fairfax Financial Holdings Limited from Canada. The company has successfully settled more than 3.41 million claims throughout the country With a Gross Written Premium of Rs. 64.19 billion and over 13.87 million issued policies.

Main features

• Claim settlement ratio:86%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:93.02% , Awesome.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both
• Network Hospital for Cashless Transaction:4000 Hospitals
• Maturity Age:4 Years
• Premium per month(starting):4285 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

• ICICI Lombard Network Hospital is not good. .You can use cashless facilities at only 4000 Hospitals which is less than other insurance company. Cashless facility is very useful as without spending a single paise your bill will be paid by insurance companies

IFFCO Tokio

IFFCO Tokio General Insurance is a JV between Indian Farmers Fertiliser Cooperative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group. This company was formed in 2000 with a vision of being a pioneer in building customer satisfaction through transparency and quick response.

Main features

• Claim settlement ratio:93%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:104.25% , Awesome.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both
• Network Hospital for Cashless Transaction:3000 Hospitals
• Maturity Age:5 Years
• Premium per month(starting):3637 Rs
• Customer Service 2 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

• IFFCO Tokio Network Hospital is not good. .You can use cashless facilities at only 3000 Hospitals which is less than other insurance company. Cashless facility is very useful as without spending a single paise your bill will be paid by insurance companies

HDFC ERGO

HDFC ERGO General Insurance Company Limited is a JV between HDFC Ltd. and ERGO International AG. The Company ensures that the vehicle stays protected and secured by giving the option to the customer to select from various Motor Insurance plans. The company offers a complete range of general insurance products like Motor, Health, Travel, Home etc. and customized them properly to serve the best insurances to each customer.

Main features

• Claim settlement ratio:88%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:51.00%
• Network Hospital for Cashless Transaction:4800 Hospitals . Network Hospital is awesome.You can avail cashless faicilities of HDFC ERGO as they have 4800 linked network Hospitals
• Maturity Age:4 Years
• Premium per month(starting):5713 Rs
• Customer Service 3 star
• Staff Attitude:2 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Incurred Claim Ratio:Horrible.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both

New India Assurance

New India Assurance Co Ltd. is a 100 % Govt owned multinational general insurance company operating in 28 countries. The company has been market leaders in India in non-life business for more than 40 years.

Main features

• Claim settlement ratio:93%, Awesome.This is the ratio of total settled/claimed by users. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:114.64% , Awesome.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both
• Network Hospital for Cashless Transaction:1200 Hospitals
• Maturity Age:6 Years
• Premium per month(starting):3850 Rs
• Customer Service 4 star
• Staff Attitude:4 Star

Way2enjoy socre : NAN

Main Disadvantages :

• New India Assurance Network Hospital is not good. .You can use cashless facilities at only 1200 Hospitals which is less than other insurance company. Cashless facility is very useful as without spending a single paise your bill will be paid by insurance companies

Bharti Axa

Bharti AXA is one of the largest private general insurance companies in India. The company is a joint venture between the Bharti Enterprises and the AXA Group where the Bharti Group holds a 74% stake and the rest 26% is held by AXA.

Main features

• Claim settlement ratio:78%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:85.41%
• Network Hospital for Cashless Transaction:5000 Hospitals . Network Hospital is awesome.You can avail cashless faicilities of Bharti Axa as they have 5000 linked network Hospitals
• Maturity Age:4 Years
• Premium per month(starting):4656 Rs
• Customer Service 4 star
• Staff Attitude:4 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Incurred Claim Ratio:Horrible.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both

Bajaj Allianz

Bajaj Allianz General Insurance Company Limited registered on 2nd May 2001 and is the JV between Bajaj Finserv Limited and Allianz SE known for its unique features and its services to the customers. The company is one of the top general insurance brands in India. The company is very competitive even though it is loaded with the important features and coverages to fulfill customers need.

Main features

• Claim settlement ratio:83%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:74.94%
• Network Hospital for Cashless Transaction:3700 Hospitals
• Maturity Age:6 Years
• Premium per month(starting):5130 Rs
• Customer Service 1 star
• Staff Attitude:1 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Bajaj Allianz Network Hospital is not good. .You can use cashless facilities at only 3700 Hospitals which is less than other insurance company. Cashless facility is very useful as without spending a single paise your bill will be paid by insurance companies
• Incurred Claim Ratio:Horrible.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both

Apollo Munich

From 2007 Apollo Munich Health Insurance Company Ltd. started their operations to providing high-class healthcare services to the common man of the country. The company has a wide range of insurance products especially health insurance to meet the healthcare requirements of an individual.

Main features

• Claim settlement ratio:89%, Horrible.This is the ratio of total settled/claimed. Higher is better as it shows the intention of management in paying
• Incurred Claim Ratio:64.61%
• Network Hospital for Cashless Transaction:4000 Hospitals
• Maturity Age:6 Years
• Premium per month(starting):4240 Rs
• Customer Service 3 star
• Staff Attitude:3 Star

Way2enjoy socre : NAN

Main Disadvantages :

• Apollo Munich Network Hospital is not good. .You can use cashless facilities at only 4000 Hospitals which is less than other insurance company. Cashless facility is very useful as without spending a single paise your bill will be paid by insurance companies
• Incurred Claim Ratio:Horrible.This is the ratio of (total insurance claim by users)/(paid by insurance company). Higher is better as it shows the deduction in claimed amount.Few company will settle your claim but they will deduct 50% from your claim so claim settlement ratio will be high but incurred claim ratio will be low so you must check both