![\"Medical](\"https:\/\/nigerianfinder.com\/wp-content\/uploads\/2021\/07\/Medical-Health-Insurance-Plans-600x400.png\")
<\/p>\nIt\u2019s natural for insurance buyers to feel insecure about whether the insurance provider will stick to their side of the bargain in times of need. They wish to be assured that their insurance provider will have their back during a crisis. One of the most accurate ways to get their assurance is by checking the insurance provider\u2019s claim settlement ratio.<\/p>\n
<\/p>\n
CSR or the claim settlement ratio denotes the percentage of claims that an insurance company settles against the total number of claims filed in a stipulated amount of time. For example, if an insurance company receives 100 claims in the past one month, if it successfully settles 70 of them, the claim settlement ratio of that month would be 70%.<\/p>\n
The two ratios that you should know about before investing in a medical health insurance<\/a> plan include Claim Settlement Ratio and Incurred Ratio. While both of these are important parameters, we would shed light on the relevance and significance of the claim settlement ratio in this article.<\/p>\n There are many reasons why you should consider the claim settlement ratio before buying a medical health insurance plan<\/a>. Let\u2019s take a look at a few of these reasons.<\/p>\n No matter what kind of medical health insurance plan you\u2019re looking for, it\u2019s important to compare different plans before making your choice. The claim settlement ratio is an excellent parameter to distinguish between your options and make the correct decision. This would help you ensure that the insurance provider will settle your valid claim in times of need and allow you to make the most of your medical health insurance plan.<\/p>\n A medical health insurance plan with a good claim settlement ratio is a good value for money. Look at it in this way. You would be spending money every month (or year) toward your medical health insurance policy. As long as your insurance provider\u2019s claim settlement ratio meets the top industry standards, you can rest assured that your money is not going to waste.<\/p>\n Your medical health insurance plan might offer many lucrative benefits like ambulance cover<\/a>, home coverage, or cashless claims. Still, these benefits only mean so much without a high claim settlement ratio. Hence, it\u2019s always advisable to go for an insurance provider that offers a high CSR to make sure your insurance benefits can come to use when needed.<\/p>\n Now that you have understood the importance of a high claim settlement ratio, here\u2019s how you can find medical health insurance plans with high CSRs.<\/p>\nImportance of Claim Settlement Ratio<\/strong><\/h3>\n
# 1 An Effective Tool to Compare Medical Health Insurance Plans<\/strong><\/h3>\n
# 2 Value for Money <\/strong><\/h3>\n
# 3 Make Your Insurance Benefits Matter <\/strong><\/h3>\n
How to find an insurance company with a high CSR? <\/strong><\/h2>\n