Health Insurance Providers In India
Indian health insurance market is growing rapidly however in current scenario number of service provide who well know due there reputation and service support still those who willing to take medical health insurance to cover own and his beloved.
However every insurance company has its unique features which sets it apart from other companies. Also, there is no one insurance company which is the best for everyone. The definition of the best Health Insurance Providers In India varies from individual to individual depending on their requirements. For instance, some individuals may find one insurance company best for them due to the wide network of its partner hospitals offering cashless claim facility, while some others may give more weightage to the quality of services offered or the availability of customer support.
Mention details based on the previous year performance and validate by concern authority.
1. HDFC ERGO Health Insurance Company
HDFC ERGO Health Insurance Limited (formerly known as Apollo Munich Health Insurance)is basically a joint venture between HDFC Ltd and Munich Re. The company is well-known to offer a comprehensive range of health insurance plans.
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
63%
|
Cashless
Hospitals
|
4500+
|
Grievances Solved
|
96.73%
|
2. Star Health and Allied Insurance Company Limited
Star Health and Allied Insurance Company of India was established in the year 2006. The company has maintained a good reputation in the market due to its hassle-free claim settlement process. The company has been awarded "Claims Service Company of the year 2014” and has PAN India presence in more than 340 cities and towns.
Headquarters
|
Chennai
|
Incurred Claim Ratio (As per the IRDA
report 2018-19)
|
63%
|
Cashless
Hospitals
|
9800+
|
Grievances Solved
|
98.96%
|
3. Future Generali India Insurance Company Ltd
Future General i
India Insurance Company
Ltd was established in the year 2007 and is in
collaboration with Future
Group, among the
leading businesses and
Assicurazioni Generali of Italy.
The company offers
effective and advanced plans to its customers
with loads
of benefits and features according to their requirements during.
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
73%
|
Cashless
Hospitals
|
5000+
|
Grievances Solved
|
99.73%
|
4. Bajaj Allianz General
Insurance Company Limited
Bajaj Allianz General Insurance Company Limited was founded
in the year 2001. It is a joint
venture between Bajaj
Finserv Limited held
by the Bajaj Group and Allianz SE in
Germany. Bajaj Finserv carries a 74% stake
and the remaining 26%....
Headquarters
|
Pune
|
Incurred Claim Ratio (As per the IRDA report 2018-19)
|
85%
|
Cashless Hospitals
|
6500+
|
Grievances Solved
|
99.78%
|
5. ManipalCigna Health Insurance Company
ManipalCigna
Health Insurance Company was incorporated in the year 2014, previously known as Cigna
TTK Health Insurance Company. IT is a joint venture between Cigna,
the global business
group for insurance
and TTK Group (an Indian giant). The company focuses
on producing effective plans for individuals as well as group.
Headquarters
|
Mumbai
|
Incurred Claim Ratio (As per the IRDA
report 2018-19)
|
62%
|
Cashless
Hospitals
|
4500+
|
Grievances Solved
|
99.58%
|
6. National Insurance Company Limited
National Insurance Company Limited is a public
health insurance company
that was established in 1906. The
company is nationalized in 1972 and has become
one of the leading insurance providers in India. It consists of several policies
for all sectors
of society to fulfill
their requirements.
Headquarters | Kolkata |
Incurred
Claim Ratio (As per the IRDA report 2018-19) | 107.64% |
Cashless
Hospitals | 6000+ |
Grievances Solved | 97.07% |
7. Iffco Tokio General Insurance Company Limited
Iffco Tokio General Insurance Company was founded
in the year 2000. It is an effective health insurance company and
a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and its associates with Nichido Fire Group (biggest listed insurer of Japan)
& Tokio Marine.
Headquarters
|
Gurugram
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
102%
|
Cashless
Hospitals
|
4200+
|
Grievances Solved
|
98.47%
|
8. New India Assurance Company Limited
The New IndiaAssurance Company Limited is a public insurance company that operates in 28 nations.
The company was founded in 1919 and it owns around 2452 offices in India. This
company offers great
products in budget
prices.
Headquarters
|
Mumbai
|
Incurred Claim Ratio (As
per the IRDA report 2018-19)
|
103.74%
|
Cashless Hospitals
|
1200+
|
Grievances Solved
|
99.94%
|
9. Oriental Insurance Company Limited
The Oriental
Insurance company was founded in 1947 and since then, it is offering
multiple healthcare products and laying
down a smooth system for the better convenience of customers.
Headquarters
|
New Delhi
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
108.80%
|
Cashless
Hospitals
|
4300+
|
Grievances Solved
|
73.83%
|
10. Reliance General Insurance Company Limited
It was
founded in 2000
& is one of the leading general
insurance companies (private sector) in India. The company deals
with various needs
of customers through
a wide range of products related
to motor, health,
travel, and commercial.
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
94%
|
Cashless
Hospitals
|
4000+
|
Grievances Solved
|
98.49%
|
11. United India Insurance
Company Limited
United India Insurance Company Limited was established in 1938 and got nationalized in 1972. The company offers a needful insurance cover to around 1 crore policyholders. It has a wide range of health insurance products starting from bullock
Headquarters
|
Chennai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
110.51%
|
Cashless
Hospitals
|
7000+
|
Grievances Solved
|
96.59%
|
12. Royal Sundaram Alliance Insurance Company Limited
Royal Sundaram Alliance Insurance Company Limited was founded in 2001. It is a joint venture between Sundaram Finance (the most respected non-banking financial institutions of India) and RSA (the second-largest general insurer in the UK).
Headquarters
|
Chennai
|
Incurred Claim Ratio (As
per the IRDA report 2018-19)
|
61%
|
Cashless Hospitals
|
3000+
|
Grievances Solved
|
99.74%
|
13. Tata AIG General Insurance Company Limited
TATA AIG was founded
in 2001 & is a renowned name in the general insurance industry of India. It is a joint venture
between Tata Group and renowned
American International Group, Inc.
At present, Tata
AIG General Insurance Company is offering a wide range of general insurance products that include health, motor, travel,
etc.
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
78%
|
Cashless
Hospitals
|
3000+
|
Grievances Solved
|
99.90%
|
14. Cholamandalam MS General Insurance Company Limited
Cholamandalam
MS General Insurance Company Ltd. was founded in 2001. It is a joint venture
between Mitsui Sumitomo Insurance Group of Japan & Murugappa Group. It is a private insurance
company that offers a wide range of insurance
products that includes accident, engineering, health, liability, marine, motor, property, travel and rural insurance for both individuals and corporate.
Headquarters
|
Chennai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
35%
|
Cashless
Hospitals
|
8000+
|
Grievances Solved
|
99.55%
|
15. HDFC ERGO General Insurance Company Limited
HDFC ERGO General Insurance Company Limited was incorporated in 2002. It is a joint
venture between HDFC Limited &
ERGO International AG sharing a partnership
of 51.769:48.231. The company offers
a variety of health insurance
products which can easily
match the requirements of customers related to health, travel, motor, home, and personal accident.
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
62%
|
Cashless
Hospitals
|
10000+
|
Grievances Solved
|
98%
|
16. Universal Sompo General Insurance Company Limited
Universal Sompo
General Insurance Company
Limited was established in 2007. It is a joint
venture between three
banks and an FMCG company
which is popular
by the name of Sompo Japan Nipponkoa Insurance
Inc. The company
offers an extensive range
of healthcare products
& also deals
in motor and commercial insurance.
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
92%
|
Cashless
Hospitals
|
4000+
|
Grievances Solved
|
98.20%
|
17. Bharti AXA General Insurance Company Limited
Bharti AXA
General Insurance Company
was incorporated in 2008. The
company is a joint
venture between Bharti
Enterprises of India,
a pivotal Indian
business group and the
AXA group of Europe, a world leader
in financial protection. It has around
79 branch offices
throughout the country. Apart from this,
it is the first general insurance company that carries dual certifications of ISO 27001:2005 & ISO 9001:2008
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
89%
|
Cashless
Hospitals
|
4500+
|
Grievances Solved
|
99.69%
|
18. SBI General Insurance Company Limited
SBI General
insurance company is a joint venture between Insurance Australia Group (IAG) &
State Bank of India. SBI
owns 74% of the total
capital whereas the IAG carries 26%. SBI follows a
multi-distribution model that encompasses through broking & retail direct channels, agency,
and bancassurance. SBI is the largest banking
franchise in India that carries 23000
branches across the country and over 5500
Regional Rural Banks (RRBs).
At present, SBI General Insurance Company is providing coverage against travel,
health, motor, personal accident and home
insurance for individuals
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
52%
|
Cashless
Hospitals
|
3000+
|
Grievances Solved
|
96.01%
|
19. Raheja QBE General Insurance Company Limited
Raheja QBE General Insurance Company Limited was founded in 1938 and is a joint
venture that is promoted by Prism Cement
Limited, and QBE Holdings (AAP)
Private Limited (a wholly-owned subsidiary of QBE Insurance Group
Limited, Australia). This insurance company offers an effective line
of healthcare products that are designed
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
33%
|
Cashless
Hospitals
|
2000+
|
20. Max Bupa Health Insurance Company Limited
Max Bupa
Health Insurance Company
is a well-known health insurance company that
provides a wide range of products to cater to the different needs of consumers. It is a joint
venture between Max India Limited
and UK based
Bupa Finance PLC.
The perfect mixture of global expertise and local knowledge in health care .
Headquarters
|
New Delhi
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
54%
|
Cashless
Hospitals
|
3500+
|
Grievances Solved
|
99.30%
|
21. Religare Health Insurance Company Limited
Religare Health
Insurance Company Limited
was launched in 2012. It is one of the popular health insurance companies engaged in providing different health insurance products.
Headquarters
|
New Delhi
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
55%
|
Cashless
Hospitals
|
5420+
|
Grievances Solved
|
99.30%
|
22. Liberty Videocon General Insurance
Liberty Videocon
General Insurance was
established in the year 2013.
The company was founded after the joint venture
between Videocon Group
and the US-based Liberty Mutual Insurance Group. It is
a popular general insurance company that highly deals in a two-wheeler, private car and health insurance,
Headquarters
|
Mumbai
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
82%
|
Cashless
Hospitals
|
4000+
|
Grievances Solved
|
98.70%
|
23. Shriram General Insurance Company
The company
was founded in 1974 after
a joint venture
between Shriram Group
and South Africa based Sanlam
Limited. Shriram Groups holds a 74% stake in the company while Sanlam enjoys a 26%
stake. SCL and its operating entities have
a customer base of over 12 million, more
than 60,000 employees across 3,000 offices
Headquarters
|
Gurugram
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
53%
|
Cashless
Hospitals
|
2000+
|
Grievances Solved
|
99.30%
|
24. Magma HDI General Insurance Company Limited
Magma HDI General Insurance Co Ltd. is a well-known general insurance company which
is a joint venture between
Magma Fincorp Ltd, Kolkata, and HDI-Gerling
Industrie
Versicherung AG Germany. Magma HDI General Insurance offers a wide range
of effective health care and several other categories .
Headquarters
|
New Delhi
|
Incurred
Claim Ratio (As per the IRDA report 2018-19)
|
90%
|
Cashless
Hospitals
|
4100+
|
Grievances Solved
|
55.86%
|