LIC settled 98.19% claims in FY15, while private sector life insurance companies settled 89.40% claims
The claims settlement record of insurance companies has improved in financial year (FY) 2015, compared to the previous year, in life an non-life categories. This is according to the latest Insurance Regulatory Authority of India (Irdai) annual report, for 2014-15. Let’s take a closer look at the numbers on claim settlement for life insurers and health and motor segments of non-life companies to see what they mean for you.
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