claim settlement ratio

ICICI Prudential Life floats income guarantee product, inflation-adjusted returns for volatile times; how will it work

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ICICI Prudential Life floats income guarantee product, inflation-adjusted returns for volatile times; how will it work

ICICI Prudential Life Insurance has launched a new product, ICICI Pru GIFT Select, designed to provide guaranteed immediate income, addressing the uncertainties of current market conditions. This new savings plan includes benefits such as guaranteed returns, preservation of wealth, and an inflation-adjusted increasing income option. For those seeking financial security, the plan offers immediate income … Read more

Insurance claims: Over 50% health cover claims faced rejection or partial approval, says survey  

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Insurance claims: Over 50% health cover claims faced rejection or partial approval, says survey  

Health insurance claims: A survey conducted by LocalCircles found that over 50% of health insurance policyholders who submitted claims in the last three years experienced either rejection or partial approval. Of the policyholders surveyed who filed a claim within the same timeframe, six in 10 reported that it took between six and 48 hours for their … Read more

Health insurance: Claim rejections by insurance companies went up by 19.10% in FY24

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Health insurance: Claim rejections by insurance companies went up by 19.10% in FY24

Insurance claims: Insurance companies in India denied 11% of health insurance claims and had 6% of claims pending as of March 2024, a report by the Insurance Regulatory Authority of India (IRDAI) stated.  The report highlighted that health policy claims amounting to Rs 26,000 crore were disallowed and repudiated by insurance companies during the year … Read more