The rating weightages are set so that no one feature or change can swing the score
This is the sixth annual edition of the Mint SecureNow Mediclaim Ratings (MSMR). The pace at which the health insurance industry has progressed is extraordinary. The number of products has increased from 55 in 2015 to 107 today. Price increases within an age band have been modest—6% per annum for individual products and no increase for family floaters. This is much less than the 15% medical inflation. The best outcome has been that the number of “A" rated health insurances has increased from 40 to 53 in comparable segments that were rated in 2015. Insurers with claim grievances less than 20 per 10,000 claims increased from 10 to 15. There continue to be 10 insurers with claim settlement rates of 90% or more.