Top 10 Best Health Insurance Companies In India: The progress in our lifestyle makes changes in the environment and pollution, a medical problem is a typical issue in human life. Be that as it may, some of the time, these medical problems get extreme and exorbitant to the least people in the society. To meet with this circumstance you need a health insurance policy. Insurance Regulatory and Development Authority of India (IRDA) every year releases a list of top health insurance companies. Life Insurer’s, General Insurer’s and Specialized Health Insurance organizations are approved to offer well being intends to the clients.
In view of the performance with respect to organizations’ Incurred Claims Ratio (ICR) and their general monetary standing, the best health insurance companies in India are as per the following:
Here are the list of Top 10 Best Health Insurance Companies In India 2019-2020:
Table of Contents
- 10. National Insurance Company Limited:
- 9. Oriental Insurance Company Limited:
- 8. New India Assurance Company Limited:
- 7. Bajaj Allianz General Insurance Company Limited:
- 6. Cigna TTK Health Insurance Company Limited:
- 5. Religare Health Insurance Company Limited:
- 4. ICICI Lombard General Insurance Company Limited:
- 3. Max Bupa Health Insurance Company Limited:
- 2. Star Health & Allied Insurance Company Limited:
- 1. Apollo Munich Health Insurance Company Limited: Tops in Best Health Insurance Companies list:
10. National Insurance Company Limited:
It is the main insurance agency which acquainted Product customization with both corporate and country clients. The organization has a workforce of 14,902 gifted faculties and has Pan India nearness with 1998 workplaces. The National Insurance Company is India’s second-biggest non-life safety net provider, regarding gross direct composed premiums. It appreciates the best money related quality rating of B++ and backer FICO assessment of bbb+. The ICR for the year 2015-16 is 95.28%.
9. Oriental Insurance Company Limited:
Oriental Insurance Company is an auxiliary of Oriental Government Security Life Assurance Company Ltd. The organization works in giving major products like power plants, steel, chemical, and petrochemical plants. It is additionally giving different protection spreads to urban and country populace of India. Oriental Insurance has accomplished a wide nearness all through India with 31 Regional Offices, more than 1800 working Offices and has worker quality of 14,000+ representatives. It holds an ICR of 83.71% for the year 2015-16. It stands at number nine position in the list of top 10 best health insurance companies in India.
8. New India Assurance Company Limited:
It is a 100% government possessed general insurance agency in India working in 28 nations. New India Assurance has been reaffirmed with ‘AAA/STABLE’ rating by CRISIL, which demonstrates that the organization has the most astounding level of financial quality. The organization has accomplished Pan India nearness through 2097 workplaces, 19,000 representatives and around 50,000 tied specialists giving protection item/administrations to the clients. The Claim Settlement Ratio is 87.84% for the year 2015-16.
7. Bajaj Allianz General Insurance Company Limited:
The Bajaj General Insurance organization is a combined enterprise of two strong entities Bajaj Finserv Limited and Allianz SE. Bajaj Allianz General Insurance Co. began its operations in the year 2001 to direct different lines of protection organizations. The solid and master accomplices of the organization make the organization a hearty element and a standout amongst the most beneficial safety net provider in the protection sector. The ICR is 72.30% and Health Guard, Silver Health, and Star Package are the three major products.
6. Cigna TTK Health Insurance Company Limited:
They stand collaborative with US-based Cigna group and Indian partner TTK group is new to Indian insurance sector. Cigna Corporation is an eminent US-based worldwide health service pioneer. The organization’s central goal is to offer tailor-made medical insurance products according to client’s requirement. The organization offers a selective bundle of health insurance products. The ICR of the organization for the year 2015-16 is 78.66%.
5. Religare Health Insurance Company Limited:
It is advanced by Religare Enterprises Limited and different investors are Corporation Bank and Union Bank of India. Religare Health means to end up noticeably the most favoured health service provider, which can guarantee access to caring, financially effective, and inventive health insurance solution. The organization has received the Quality Management System according to ISO 9001:2015 guidelines. The organization holds an ICR of 57.25% for the year. It stands at number five position in the list of India’s best health insurance companies in 2018.
4. ICICI Lombard General Insurance Company Limited:
This company is the combined enterprise of ICICI Bank Limited and Fairfax Financial Holdings Limited; a Canada based financial services company. The company engages in general insurance, reinsurance, and investment management. They have been awarded for their best customer-centric approach and innovative solutions. They provide nee specific health plans to customers which is the need for health insurance solutions. The Incurred Claim Ratio is 81.47% for the year 2015-16.
3. Max Bupa Health Insurance Company Limited:
It is the joint enterprise of Max India Limited and Bupa which is a UK based international healthcare group serving a wide client base in more than 190 nations. Max India has proficiency of health and protection administrations, for example, clinical research and life insurance. Max Bupa expects to encourage clients a more beneficial life by giving them a tweaked scope of health insurance solutions. The ICR of the organization for the year 2015-16 is 55.16%. It stands at number 3rd position in the list of top ten best health insurance companies in 2018.
2. Star Health & Allied Insurance Company Limited:
The aim of this organization is to provide excellence in service with innovative insurance products which is best for customers. They offer Health Insurance, Overseas Mediclaim Policy, and Personal Accident insurance products. This stand-alone insurer provides health insurance products at affordable prices. The ICR of the company is 53.81% of the year 2015-16. They bring in awaited products like Diabetes Safe for diabetic patients and Star NetPlus for HIV+ patients.
1. Apollo Munich Health Insurance Company Limited: Tops in Best Health Insurance Companies list:
Apollo Munich Health Insurance is a joint scheme between Apollo Hospitals and Munich Health. Apollo Munich plans to influence quality health care open to each person, so they can have more beneficial existences. The organization has been presented Health Insurance Provider Award and InfoSec Maestros Awards. The Incurred Claim Ratio is outstanding with 63.03% with portability and lifelong renewability options. It’s one of the famous insurance company and stands at number one position in the list of top 10 best health insurance companies in India.
Conclusion: Top 10 Best Health Insurance Companies In India:
The above list shares the much-needed information relating top 10 best health insurance companies in India. To know a wide range of products with the general insurance company and helps in selecting a health plan. Buy health insurance policy for you and for your family with these best health insurance companies.