What is ICICI Lombard claim settlement ratio?

ICICI Lombard General Insurance's claim settlement ratio is 88.24% for FY 2023-24, sourced from IRDAI annual reports.

Is ICICI Lombard reliable for claim settlement?

ICICI Lombard General Insurance has a 88.24% CSR (FY 2023-24), below the industry average of ~90%. Compare alternatives before buying.

How to file a claim with ICICI Lombard?

To file a claim with ICICI Lombard General Insurance: (1) Notify the insurer within the stipulated time frame, (2) Submit claim form with required documents, (3) The insurer must settle within 30 days per IRDAI guidelines. Contact the insurer's toll-free number or visit their branch for assistance.

General Insurance · IRDAI Data

ICICI Lombard General Insurance

ICICI Lombard General Insurance is India's largest private sector general insurer by gross written premium, incorporated in 2001 as a joint venture between ICICI Bank and Fairfax Financial Holdings. It offers a wide range of products including health, motor, travel, and home insurance. For health claims in 2023-24, it reported a claim settlement ratio of approximately 88%.

GENERALICR 88.24% · FY2023-24Mumbai

ICR FY2023-24

88.2%

42,180 settled

Pros & Cons

Pros

✓Largest private general insurer — strong financial backing
✓Wide cashless hospital network across India
✓Quick cashless approval — digital-first claim process
✓Health Booster top-up plans available at low cost
✓Multi-product insurer — can bundle health with motor

Cons

✕CSR slightly below top standalone health insurers
✕Customer service complaints at scale can lag
✕Some plans have room rent sub-limits

Complaint Data

Complaints / 10K

14.2

FY2022-23

Grievance Disposal

98.5%

How does ICICI Lombard compare?

Side-by-side CSR, complaints, and grievance data.

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