Claim Settlement Ratio — FY 2023-24

Data from IRDAI Annual Report 2023-24. Published by the Insurance Regulatory and Development Authority of India.

IRDAI Annual Report 2023-24

CSR = (claims settled / total claims) x 100. A ratio of 99% means the insurer paid 99 out of every 100 death or hospitalisation claims it received that year. Higher is better. IRDAI data covers all IRDAI-registered insurers.

Life Insurers

Rank	Insurer	CSR 2023-24	Claims Settled	Rating
1	Max Life Insurance	99.51%	23,672	Excellent	View →
2	HDFC Life Insurance	99.39%	15,234	Excellent	View →
3	Bajaj Allianz Life Insurance	99.07%	18,740	Excellent	View →
4	Kotak Mahindra Life Insurance	98.82%	9,821	Good	View →
5	LIC India	98.62%	1,74,543	Good	View →
6	Tata AIA Life Insurance	98.53%	12,043	Good	View →
7	ICICI Prudential Life Insurance	97.90%	14,892	Good	View →
8	Aditya Birla Sun Life Insurance	97.47%	8,834	Good	View →
9	PNB MetLife India Insurance	97.37%	7,123	Good	View →
10	SBI Life Insurance	95.74%	31,234	Good	View →

Source: IRDAI Annual Report 2023-24. Claims settled = death claims accepted and paid.

Health Insurers

Rank	Insurer	CSR 2023-24	Claims Settled	Rating
1	HDFC ERGO Health Insurance	100.00%	8,421	Excellent	View →
2	Aditya Birla Health Insurance	95.53%	4,231	Good	View →
3	ManipalCigna Health Insurance	91.75%	3,421	Average	View →
4	Star Health and Allied Insurance	91.27%	1,24,321	Average	View →
5	Niva Bupa Health Insurance	91.16%	23,421	Average	View →
6	Care Health Insurance	90.32%	18,932	Average	View →

Source: IRDAI Annual Report 2023-24. For health insurers, CSR covers both cashless and reimbursement claims.

Complaint Ratio — Life Insurers

Lower is better — fewer complaints per 10,000 new policies indicates better service quality.

IRDAI Annual Report 2022-23

Rank	Insurer	Complaints / 10K Policies ↑ Lower is better	Disposal Rate	FY	Rating
1	Max Life Insurance	1.45	99.8%	FY 2022-23	Low
2	Tata AIA Life Insurance	1.87	99.7%	FY 2022-23	Low
3	SBI Life Insurance	1.93	99.7%	FY 2022-23	Low
4	HDFC Life Insurance	2.15	99.6%	FY 2022-23	Medium
5	Kotak Mahindra Life Insurance	2.28	99.5%	FY 2022-23	Medium
6	ICICI Prudential Life Insurance	2.73	99.4%	FY 2022-23	Medium
7	Life Insurance Corporation of India	2.98	99.2%	FY 2022-23	Medium
8	Aditya Birla Sun Life Insurance	3.47	99.1%	FY 2022-23	Medium
9	Bajaj Allianz Life Insurance	4.12	98.8%	FY 2022-23	High
10	PNB MetLife India Insurance	4.67	98.6%	FY 2022-23	High

Source: IRDAI Annual Report 2022-23 — Complaints per 10,000 new policies

Complaint Ratio — Health Insurers

Lower is better — fewer complaints per 10,000 new policies indicates better service quality.

IRDAI Annual Report 2022-23

Rank	Insurer	Complaints / 10K Policies ↑ Lower is better	Disposal Rate	FY	Rating
1	HDFC ERGO Health Insurance	9.10	99%	FY 2022-23	Low
2	ManipalCigna Health Insurance	10.40	98.9%	FY 2022-23	Medium
3	Niva Bupa Health Insurance	11.60	98.6%	FY 2022-23	Medium
4	Aditya Birla Health Insurance	13.20	98.4%	FY 2022-23	Medium
5	Star Health and Allied Insurance	14.80	98.2%	FY 2022-23	High
6	Care Health Insurance	17.30	97.8%	FY 2022-23	High

Source: IRDAI Annual Report 2022-23 — Complaints per 10,000 new policies

How to read this data

CSR covers all death claims (for life) or hospitalisation claims (for health) in one financial year
A high CSR does not mean every claim type is paid — read the policy exclusions
IRDAI publishes this data for all registered insurers once a year, typically in August
If an insurer is not listed, it may have merged, lost licence, or is too new to have a full-year record