When it comes to selecting the best health insurance company in India, there are several factors to consider, such as claim settlement ratio, network hospitals, premium, track record, financial stability, customer service, and range of plans. To help you make an informed decision, we have compiled a list of the top 5 health insurance companies in India for 2024.
| Company Name | Claim Settlement Ratio (Last 3 Years) | Network Hospitals | Gross Written Premium (2020-21) | Track Record |
|---|---|---|---|---|
| HDFC ERGO Health Insurance | 97.5% | 11,300+ | ₹4,281.6 Cr | 20 years |
| Care Health Insurance | 90.75% | 9,400+ | ₹2,559.75 Cr | 10 years |
| Niva Bupa Health Insurance (formerly Max Bupa) | 90.66% | 9,100+ | ₹1,750.78 Cr | 14 years |
| Bajaj Allianz Health Insurance | 94.04% | 8,000+ | ₹2,301.74 Cr | 21 years |
| ICICI Lombard Health Insurance | 85.53% | 7,500+ | ₹3,021.35 Cr | 21 years |
- HDFC ERGO Health Insurance HDFC ERGO Health Insurance tops our list with an impressive claim settlement ratio of 97.5% over the last three years. The company boasts a network of over 11,300 hospitals and has a gross written premium of ₹4,281.6 Cr in 2020-21. With a track record of 20 years, HDFC ERGO Health Insurance is a reliable choice for your health insurance needs.
- Care Health Insurance Care Health Insurance secures the second spot on our list, with a claim settlement ratio of 90.75% over the last three years. The company has a network of over 9,400 hospitals and a gross written premium of ₹2,559.75 Cr in 2020-21. With a decade of experience in the industry, Care Health Insurance is a trusted provider of health insurance plans.
- Niva Bupa Health Insurance (formerly Max Bupa) Niva Bupa Health Insurance, formerly known as Max Bupa, takes the third position on our list. The company has a claim settlement ratio of 90.66% over the last three years and a network of over 9,100 hospitals. With a gross written premium of ₹1,750.78 Cr in 2020-21 and a track record of 14 years, Niva Bupa Health Insurance is a reliable option for your healthcare needs.
- Bajaj Allianz Health Insurance Bajaj Allianz Health Insurance comes in at number four on our list, with a claim settlement ratio of 94.04% over the last three years. The company has a network of over 8,000 hospitals and a gross written premium of ₹2,301.74 Cr in 2020-21. With a solid track record of 21 years, Bajaj Allianz Health Insurance is a dependable choice for your health insurance requirements.
- ICICI Lombard Health Insurance ICICI Lombard Health Insurance rounds out our top 5 list, with a claim settlement ratio of 85.53% over the last three years. The company has a network of over 7,500 hospitals and a gross written premium of ₹3,021.35 Cr in 2020-21. With 21 years of experience in the industry, ICICI Lombard Health Insurance is a well-established player in the health insurance market.
Other notable health insurance companies in India include SBI General Insurance, Aditya Birla Health Insurance, Star Health Insurance, and Reliance Health Insurance. When choosing the best health insurance company for your needs, consider factors such as claim settlement ratio, network hospitals, premium, track record, financial stability, customer service, and range of plans to ensure you make the most informed decision.
Disclaimer: The information provided in this article is for general informational purposes only and should not be considered as professional advice. While we strive to provide accurate and up-to-date information, the content of this article may not reflect the most recent changes in the health insurance industry. The ranking of the top 5 health insurance companies is based on the data available at the time of writing and may be subject to change.