New India Assurance Company
Est. 1919Mumbaigeneral insurer
CSR 2023-24
91.10%
Average
Complaints FY 2022-23
18.30
per 10K policies
96.8% disposal rate
Source: IRDAI Annual Report 2022-23
Quick answerNew India Assurance Company settled 91.10% of general insurance claims in FY 2023-24 — in line with the industry average of ~90%. This page shows New India Assurance's CSR history, plans, pros and cons, complaints data, and how to file a claim.
New India Assurance Company is India's largest general insurer and the only public sector general insurance company listed on Indian stock exchanges. Founded in 1919, it is fully owned by the Government of India through the Ministry of Finance. With operations in 28 countries, it is among the oldest and most trusted names in Indian insurance. Its health segment reported a claim settlement ratio of approximately 91% in 2023-24.
Claim settlement ratio history
Strengths
- +Oldest and largest public sector general insurer — government-backed
- +Mediclaim policy — one of India's most widely held health plans
- +Accepted at virtually all government and major private hospitals
- +Lower premiums compared to private sector equivalents
- +Floater policies available for families at competitive rates
Limitations
- -Claim processing can be slower than private digital insurers
- -Older IT systems — less digital claim filing convenience
- -Room rent and disease-specific sub-limits in base Mediclaim plan
How to file a claim
Cashless claims through TPAs (third party administrators) at network hospitals. Reimbursement requires form submission at nearest NIA branch or TPA office, settled within 30 days.
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