When selecting an insurance policy, most focus on the premium. However, the most critical factor for your family's financial security is the Claim Settlement Ratio.
The Claim Settlement Ratio (CSR) is a metric that shows the percentage of claims an insurance company has paid out of the total claims it received during a financial year.
For example, if an insurer receives 100 claims and settles 98 of them, their CSR is 98%. The remaining 2% might be rejected due to non-disclosure of medical facts or missing documentation.
A high CSR (above 95%) indicates the company is reliable and fulfills its promises to policyholders.
Consistent ratios over 5 years suggest the insurer is financially healthy and processes claims efficiently.
It gives you confidence that your nominee will not face unnecessary hurdles during a difficult time.
At Credential Services, we analyze CSR data to find the most secure options for you.
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