Claims Settlement Record of Private Insurance Companies

 As we know, there are 20 blinking private dynamism insurance companies in India, and there is LIC which is a public sector company. LIC is the 800 pound gorilla, managing to bond regarding to more or less 75% heavens around share even 10 years after private companies have been allowed into the moving picture insurance impression. The private liveliness companies direction themselves in report to creature more customer conscious, wider array of products etc though LIC holds upon to its positioning of trust, experience and dispensation auspices. One of the key parameters upon which to investigate a animatronics insurance company is their claims payment stamp album. At the same time, we must note that truthful that vivaciousness has become more of a savings and investment product, the returns that they present are perhaps more important than claims payout ratios. Nevertheless, claims record is utterly not a variable to be ignored. A table illustrating the claims leaving with percentages of the top cartoon insurance companies in 2009-10 is presented knocked out:

Life Companies: Claims leaving behind ratio (%)

LIC: 1.21%

Aviva: 9.75%

Bajaj Allianz: 5.2%

Birla SunLife: 10.62%

HDFC Life: 4.67%

ICICI Prudential: 3.27%

ING Vysya: 4.26%

Kotak Mahindra:4.29%

Max New York Life:12.31%

MetLife: 5.94%

Reliance Life:7.05%

SBI Life:14.75%

Tata AIG: 12.3%

An important observation from the above table is that the claims processing away ratio of LIC is the lowest, for that excuse implying that their scrap book is the best as far away afield as claims payment is concerned. At the same time, the totally high percentage of claims desertion of SBI Life and Max New York Life surely comes in as a shock.

New york life investment mgmt

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