Numbers that help when buying general insurance

There are many critical parameters like claims settlement, repudiation and others that need to be studied carefully

Tinesh Bhasin 

If you were to buy a health insurance, which company would you choose — a company that has settled just 24 per cent of the claims it has received or one that has settled 97 per cent of them?  Ideally, it should be the one that has settled 97 per cent. But most consumers tend to get stuck with premium, or, at best, features of the policy. “Before buying a policy, an individual should first shortlist insurers that settle more claims than others and quickly. Features of a policy and premium should be the next step,” says Sanjay Kedia, chief executive officer at Marsh ...

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First Published: Wed, September 20 2017. 00:12 IST