Methodology

Primary data source

Every claim settlement ratio on ClaimRatio is sourced from the IRDAI Annual Report, the statutory document that the Insurance Regulatory and Development Authority of India publishes each year. The relevant section for life insurers is the Claims Payment Ratio table, and for health and non-life insurers we use the Incurred Claims Ratio and Claims Settlement Ratio tables in the same report. You can download the annual reports directly from the IRDAI website.

How CSR is calculated

The Claim Settlement Ratio shown on ClaimRatio follows the IRDAI convention for individual death claims: claims paid during the financial year divided by the sum of claims paid, claims repudiated, claims rejected, and claims pending at year end. We quote the ratio as a percentage, rounded to two decimal places, and we show the raw numerator and denominator from the source table on the insurer profile page so you can re-derive the figure yourself.

For health insurers the headline figure is the Incurred Claims Ratio, defined by IRDAI as net claims incurred divided by net earned premium during the financial year. Both figures are pulled from the same annual report.

Refresh cadence

IRDAI publishes the annual report once per year, typically in the second half of the calendar year for the previous financial year ending 31 March. ClaimRatio updates the dataset within two weeks of that publication. Between releases the figures do not change, and we keep the prior year visible alongside the latest year so trends stay legible.

Premium estimates

The calculators on the site produce premium estimates from published insurer rate cards and peer benchmarks. They are indicative, not quotations, and they do not replace underwriting. The calculator pages list the assumptions used so you can see which inputs drive the output.

Corrections

If a number looks wrong, it probably reflects an older report, a typo, or a mismatch with a revised annual report. Email hello@claimratio.com with the insurer name, the year, the figure you expected, and a link to the IRDAI page. Corrections are logged and credited. The author is Aniket Nigam.