Claim Settlement Ratio

byPaytm Editorial TeamLast Updated: December 12, 2025

Meaning

Claim Settlement Ratio shows the percentage of claims an insurance company has approved and paid.

Definition

It is calculated as the number of claims settled divided by the number of claims received in a year.

Purpose

It helps customers judge how reliable an insurer is during claim processing.

Importance

A higher ratio means smoother claim approvals.

You May Also Like

Request MoneyLast Updated: September 16, 2025

Meaning Request Money is a feature in digital payment platforms that allows a user to send a payment…

Fuel SubsidyNovember 1, 2025

Meaning Definition A Fuel Subsidy involves a government paying a portion of the fuel price, reducing the cost…

UPI SwitchLast Updated: July 24, 2025

Definition A UPI Switch is the central routing system that connects banks, payment apps, and NPCI to process…

Universal Health CoverageNovember 3, 2025

Understanding Universal Health Coverage (UHC)Universal Health Coverage (UHC) means that all individuals and communities receive the health services…

BNPL (Buy Now, Pay Later)Last Updated: July 31, 2025

Meaning BNPL stands for Buy Now, Pay Later. It is a short-term credit facility that allows customers to…