Claim Settlement Ratio of Niva Bupa Health Insurance

The health scenario across the globe has made us realize the importance of a health insurance plan. With a health insurance plan that has a good Claim Settlement Ratio or (CSR), you can ensure that you and your family get the best treatment for any health issue without worrying about the expenses. If you are thinking to buy a health plan, do consider buying it from Niva Bupa Health Insurance Company Limited, a company that offers tailor-made health insurance policies to meet the requirements of different people.

Tagged as one of the most trusted health insurance providers, Niva Bupa, formerly known as Max Bupa offers an excellent claim settlement ratio. Read on to learn about the claim settlement ratio of Niva Bupa health insurance and whether you should consider buying a health insurance policy from this company, or not.

What is Health Insurance Claim Settlement Ratio?

Call it the Claim Settlement Ratio or CSR, it is the first and main thing that tells about the credibility of a health insurance company to settle insurance claims for a policyholder. CSR is the percentage of claims settled by the company during a particular financial year in ratio to the total number of claims filed by the customers. As per a general thumb rule, the higher the claim settlement ratio, the more reliable a health insurance company is for seeking claim compensation.

What is Niva Bupa Health Insurance Claim Settlement Ratio

Do you know that Niva Bupa health insurance claims settlement ratio comes in the top 5 health insurance companies according to the annual report 2021-22 presented by IRDAI (Insurance Regulatory and Developmental Authority)? Niva Bupa settled 99.99% of the total claims raised within 3 months. If you are planning to purchase a health insurance plan from Niva Bupa, then you will be glad to know that the company has set a benchmark in offering a claim settlement ratio that never went less than 90%.

How to Seek Niva Bupa Health Insurance Claim?

Niva Bupa Health Insurance Claims can be filed for cashless, as well as for reimbursement.

Here is the procedure to file for cashless claim settlement:

Step 1: 
To get cashless treatments, it is important to get admitted to one of the network hospitals of Max Bupa Health Insurance. This list of network hospitals is available on the official website of the company

Step 2: 
Show your identity proof along with the Niva Bupa Health Card when admitting to a network hospital

Step 3: 
Upon verification of your identity, the network hospital will proceed to submit the pre-authorization request form to Niva Bupa company

Step 4: 
Once Niva Bupa reviews the request, it will send a confirmation via email, text, or fax to the hospital and you

Step 5: 
Once all these formalities are completed, Niva Bupa will settle the claim with the hospital wherein you will not be required to pay a single penny to the hospital

Here is the procedure to file for reimbursement claim settlement:

Step 1: 
When you get admitted to a non-network hospital, it is important to inform the insurer within 48 hours of hospitalization. Make sure to inform them within 24 hours in case of an emergency hospitalization

Step 2: 
After making the payment for the treatment, make sure to collect all the necessary documents, medical reports, discharge certificates, and invoices during the discharge

Step 3: 
Fill out the Niva Bupa Claim Form available on the official website of Niva Bupa and send it to Niva Bupa along with some other required documents

Step 4: 
Once your form and documents are reviewed and verified, the company will settle the claim with a reimbursement

Niva Bupa Health Insurance Reviews by Customers

5 Star Rating – Madhav Arora, New Delhi

“Best company to get a health insurance plan with very cooperative staff that guided me throughout a claim process.”

4.5 Star Rating – Sutanu Dey, Kolkata

“Would recommend everyone to buy health insurance from Niva Bupa because it offers the best claim settlement ratio. Be it the sales team, customer care team or the general staff, everyone in this organization is extremely helpful and knowledgeable.”

5 Star Rating – Pallavi Iyer, Chennai

“I was new to health insurance and was short of funds. Thankfully I had Niva Bupa health insurance that helped me get hospitalized for cashless treatment in a network hospital after an accident and settled by claims without any hassles.”

Best Niva Bupa Health Insurance Plans for 2023

Here is a list of the top 5 Niva Bupa health insurance plans for 2023:

  1. Niva Bupa Health Pulse
  2. Niva Bupa Health Premia
  3. Niva Bupa Health Companion V2022
  4. Niva Bupa CritiCare
  5. Niva Bupa Go Active

 

Conclusion

Claim Settlement Ratio of Niva Bupa Health Insurance

You can easily check the Niva Bupa claim status online by following these simple steps:

~ Visit the official portal of Niva Bupa Health Insurance
~ Go to the claim section and scroll down to the claim status option
~ Fill in your username and password for the Niva Bupa login
~ You will now be able to check your Niva Bupa Health Insurance Claim Status

Here is the list of documents required to file for a Niva Bupa claim settlement:

~ Original and Xerox copy of your health insurance plan
~ Hospital discharge documents and invoices
~ Doctor’s certificate
~ FIR copy
~ Original investigation report
~ Duly-filled claim form

The top three health insurance companies based on the claim settlement ratio 2021 are:

~ ICICI Lombard – 99.98%
~ HDFC ERGO – 99.8%
~ Edelweiss General – 99.72%

The waiting period for a general Niva Bupa health insurance plan is 30 days. Make sure to check the same when buying the policy under the terms and conditions.

Yes, you can consider buying a health insurance plan from Niva Bupa because it is one of the best health insurance companies in India. It offers a wide array of benefits with its policies and a stupendous claim settlement ratio.

Author Bio

Paybima Team

Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

Choose from India’s top insurers

Latest Post

Having health insurance is now a top priority among potential policyholders, who are increasingly aware of the importance of accessing quality healthcare at an affordable cost. Not only does it handle finances, but it also gives peace of mind during medical emergencies. Getting coverage without dealing with cash or documentation makes the cashless claim process an attractive feature of the health insurance. 

Rather than making an advance payment and waiting for reimbursement, policyholders can receive healthcare from network hospitals without incurring out-of-pocket expenses. With its support, worrying about finances becomes less of a concern, and managing healthcare bills becomes simpler. For emergencies, where time and money are of concern, using cashless claims is very helpful for individuals and their families.
 

See nowSee now

If you are planning to buy two-wheeler insurance and are seeking answers to some frequently asked questions, look no further. Read on to know the two wheeler insurance FAQs related to bike insurance policy in this post.

See nowSee now

Choudhary is a privately employed person in Bangalore, and he uses a car to commute to his office daily. While driving his vehicle one day, he met with an accident that resulted in major damages and rendered his car useless. Since he had a car insurance plan, he claimed total loss and that helped him manage expenses without causing any financial burden on him.

See nowSee now

Buying two-wheeler insurance online can be a bit overwhelming for first-time buyers and even for policyholders with prior experience. While it is recommended to compare insurance plans before buying them, having some basic understanding will help you extract the most out of them.

See nowSee now

If you think lifestyle-related health issues only show up after 40, think again. Youth no longer guarantees immunity. Today’s 25 - 35 age group is increasingly facing medical issues that only plague older adults. The reason? Long working hours at the desk, deliveries on speed dial, and a social life that rarely includes a decent amount of sleep are some of the reasons for the early onset of medical conditions like diabetes, anxiety, and hypertension.   

See nowSee now