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Niva Bupa Reassure 3.0
The Niva Bupa ReAssure 3.0 health plan ensures lifetime protection for you and your family, with a coverage limit of ₹1 crore and extensive…
- Unlimited coverage
- High flexibility
- Global healthcare option
Niva Bupa Health Insurance Claim Settlement Ratio
Health insurance is essential today. An ideal health insurance plan ensures financial protection during medical emergencies. But what if your insurance company cannot settle your claims on time? Your savings could be depleted, and your family might suffer.
To prevent such situations, always check the claim settlement ratio before choosing a health insurance company.
Wondering what a Claim Settlement Ratio is and why it's important? Read on to find out.
What is a Claim Settlement Ratio?
The Claim Settlement Ratio (CSR) is the percentage of claims an insurance company settles in a financial year compared to the total claims raised. It indicates the company's credibility.
It's advisable to choose a company with a higher claim settlement ratio. A higher ratio suggests a more reliable health insurance company, indicating the company's ability to settle claims and its performance history.
If you've decided to buy a health insurance plan from Niva Bupa Health Insurance, let's discuss their claim settlement ratio in detail.
According to IRDAI, Niva Bupa Health Claim Settlement Ratio is 99.99%. A high claim settlement ratio indicates the company's strong ability to settle claims, making Niva Bupa Health Insurance trustworthy for its customers.
As per the IRDAI Annual Report 2021-22, Niva Bupa's settlement ratio ranks among the top five compared to other companies.
Status of Niva Bupa Claim Settlement Ratio - 2021-22
| Status of Niva Bupa Claim Settlement Ratio - 2021-22 | ||||||
| Age Analysis of Number of Claims Paid (%) | < 3 months | 3 months to 6 months | 6 months to <1 year | 1 year to <3 years | 3 years to <5 years | 5 years |
| Claims Settled | 99.99 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
How To File a Niva Bupa Health Insurance Claim?
For Cashless Claims:
- Get admitted to a network hospital associated with Niva Bupa. Check the list of network hospitals on the company’s website.
- Use your Niva Bupa Health Card and provide identification proof.
- The network hospital will submit the pre-authorization request form to the company after validating your identity.
- The company will review your request and confirm with the network hospital via fax or email, and share the same with you via text or email.
- The company will settle the claim with the hospital after completing all formalities.
Reimbursement Claim Settlement Process:
- If admitted to a non-network hospital, notify Niva Bupa within 48 hours of hospitalization. In emergencies, inform them within 24 hours.
- Pay the treatment expenses to the hospital. Collect all necessary documents, invoices, medical reports, and discharge certificates during discharge.
- Send the completed claim form (available on Niva Bupa’s website) along with the required documents to Niva Bupa.
- Niva Bupa will review the documents and settle the claim (if approved) by reimbursing you.
