Tata AIG Claim Settlement Ratio

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Health insurance is all you need to avoid the financial burden of huge medical bills. However, the most important part of a health policy is the claim settlement process. Tata AIG is a trusted brand known to offer the best health insurance services, and therefore, they also offer a faster, better, and more straightforward claim settlement process. A policyholder must submit a request to their insurer through the health insurance claim settlement process to use the medical treatments covered by their health plan. The policyholder can either obtain a cashless treatment or be reimbursed for already-used medical services. Today, we will look in detail at the Tata AIG health insurance claim settlement process. 

What is Claim Settlement Ratio?

The percentage of paid claims to claims filed with an insurer is known as the claim settlement ratio, or CSR, in a health insurance policy. It is a typical metric for rating insurance providers and one of the main factors that policyholders consider when selecting an insurer. The Insurance Regulatory and Development Authority of India determines the CSR at the beginning of each year (IRDAI). Additionally, the organisation releases yearly data on the registered insurance firms' most recent health insurance claim settlement ratios.

CSR = Total no. of claims settled/Total no. of claims received X 100

In the next section, we will understand Tata AIG health insurance claim settlement ratio for the latest financial year by IRDAI. 

Tata AIG Health Insurance Claim Settlement Ratio

Tata health insurance has a claim settlement ratio of 93.55. See the table below to understand Tata’s Health's claim settlement ratio. 

Status of Tata AIG Health Claim Settlement ratio- 2021-22
Age Analysis of Number of Claims Paid (%) <<> 3 months three months to 6 months six months to <<>1 year 1 year to <<>3 year 3 years to <<>5 years five years
Claims Settled 93.55 3.97 1.90 0.45 0.07 0.06

Tata AIG Health Insurance Claim Settlement Process

Tata AIG health insurance offers two simple ways to file claims. Below we have explained both the claim processes of Tata AIG health insurance in detail:

Cashless Claim Process

Claiming without cash is an easy and practical approach. If you have a claim, email or use the 24-hour toll-free number 1800 266 7780.

  • Visit Tata Health Insurance's main website.
  • Select the "Claim" tab.
  • Follow the steps and submit the required details.
  • Tata Health Insurance's cashless claim process will be done.

Reimbursement Claim Process

You must pay the hospital costs in full at the time of admission if the insurer does not offer a cashless claim option or if the hospital is not one of its network hospitals. The insurance company will subsequently pay you back for the medical expenses.

  • The first step is to verify the details.
  • Provide the relevant documents to Tata health company.
  • Wait for the payment processing. Once it is done, you will be reimbursed for the costs incurred.