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

Sum AssuredOctober 16, 2025

Meaning Sum Assured is the fixed amount an insurance policy promises to pay.Definition It’s the guaranteed payout from…

Critical Illness CoverLast Updated: December 12, 2025

Meaning Critical Illness Cover is an insurance benefit that pays a lump-sum amount if you are diagnosed with…

TDR: Term Deposit ReceiptLast Updated: October 14, 2024

What is TDR? TDR stands for Term Deposit Receipt. It refers to a financial document that represents a…

ABHA Health IDNovember 1, 2025

Meaning Definition ABHA (Ayushman Bharat Health Account) is a unique 14-digit ID for Indian citizens. Similar to how…

UPI Account ReactivationLast Updated: October 21, 2025

Meaning UPI Account Reactivation is the process of restoring access to your UPI services after they’ve been blocked…