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Incurred Claim Ratio VS Claim Settlement Ratio


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 during the time of your insurance claim settlement. A high CSR is one of the factors that will assure you that the insurance company is more likely to settle your claim without any hassles.
I.e Total claim settled /(total claim received + outstanding claims at the start of the year


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