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Difference between Incurred Claim Ratio and Claim Settlement Ratio Incurred Claim Ratio VS Claim Settlement Ratio Incurred Claim Ratio (ICR):  The ratio of the total number of claims received to the total premiums collected in the same period by the insurance company is known as the Incurred Claim Ratio. A high ICR gives you an idea that the insurance company is more open to accepting new customers and more friendly to issuing policies to people with pre-existing illnesses, and if you are one of those customers with pre-illness, then you don’t have to wait much to get your plan. The ratio also tells you about their relationship with the customer. I.e Total value of the claim paid/ total value of premium collected Claim Settlement Ratio (CSR):  The ratio of the total number of claims settled to the total number of claims received by the insurance company within the same duration of time is known as the Claim Settlement Ratio. It tells you how friendly the company will behave du...

 HEALTH INSURANCE Health insurance is a cover that covers the medical expenses of the policyholder. It is a protection against high hospitalization expenses, pre-medical, and post-medical expenses, daycare treatments, aIr ambulance, Ayush benefits, in some type of policies maternity and vaccination of child too. In this article, we are helping you to consider the factors, before purchasing the health policy. so that you choose the best company and products. Factors you should consider before buying health insurance and deciding on the insurance company. Incurred Claim Ratio (ICR):  The ratio of the total number of claims received to the total premiums collected in the same period by the insurance company is known as the Incurred Claim Ratio. A high ICR gives you an idea that the insurance company is more open to accepting new customers and more friendly to issuing policies to people with pre-existing illnesses, and if you are one of those ...

  10 Best Health Insurance Plans in India What’s the best health insurance plan in India? If you’re an ex-pat or just planning to relocate to the country, figuring out how to get health insurance in India can be a tricky task. Different companies offer different policies, some of which are more suited to your needs than others. To help you make an informed decision on your health insurance plan in India, we’ve put together this list of the 10 best health insurance plans in India right now.                                                 HDFC OPTIMA RESTORE STAR HEALTH YOUNG STAR ADITYA BIRLA ACTIVE ASSURED DIAMOND NIVA BUPA REASSURE The above-mentioned plans are best suitable for people who want to buy at an early age to avoid uncertainty and risks. Major benefits are No Sub-limits Comprehensive coverage No claim bonus up to 150% Lower premium As our team of ex...