What is HDFC ERGO’s Claim Settlement Ratio ?

Posted on: Nov 9, 2023 | | Written by:

What is HDFC ERGO’s Claim Settlement Ratio ?

Published on November 06, 2023. EST READ TIME: 3 minutes

Healthcare coverage is one of the most important insurance products you can buy to secure your health and finances. The insurance policy can cover a chunk of your hospital bills and associated expenses and ease financial stress during medical emergencies. However, when buying health insurance, it is essential to do proper research and choose a healthcare plan that best matches your requirements and pocket. Moreover, you must also choose an insurance provider with a high claim settlement ratio to ensure financial assistance during medical emergencies.

HDFC ERGO is a reputed insurance company with an impressive claim settlement ratio. The insurance provider boasts of processing one claim every minute and has maintained a remarkable CSR of over 95% over the past few years. This means the insurance company has settled most of the claims it received. Therefore, choosing HDFC ERGO health insurance can ensure financial security, especially during expensive medical procedures.

HDFC ERGO considers both cashless and reimbursement claims. The insurer has over 12,000 network hospitals across the country. Therefore, you can easily opt for cashless treatment at a network hospital; the insurer will settle your bills directly with the hospital.

However, you can file a reimbursement claim with the insurer if you choose a non-network hospital for your medical procedure. The insurer will authenticate your claim and settle it within 30 days from the date of filing.

HDFC ERGO claim settlement ratio strongly indicates the credibility of the insurance provider. So, if you are looking to buy health insurance, HDFC ERGO is a good option. The insurer is known for settling most of the health insurance claims it receives. However, before you file a claim, make sure you go through policy coverage details and exclusions. The insurer will not entertain claims for an ailment or medical procedure that is not covered by them or is mentioned under policy exclusions.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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