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Aegon religare claim settlement ratio 2013-14 – Review

 Aegon religare claim settlement ratio 2013-14

Claims settlement ratio for the year 2013-14 has been released by IRDA in its annual report. In this post we are going to analyse the Aegon religare claim settlement ratio 2013-14 specially. Here we are about to analyse the report on the improvements of claim ratio and the comparison of the Aegon religare claim settlement ratio 2013-14 with previous 5 years. Kindly go through the table and understand the Pie chart provided.

 

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AEGON RELIGARE CLAIM SETTLEMENT RATIO 2013-14
Claims settled81%
Claims Rejected19%
Claims pending at year end0%

The above picture and table says that out of 100 claims that come to Aegon religare 81 are settled and 19% is rejected. At the end of the financial year 2013-14, the company has settled all the claims and has no claims pending.

Aegon religare claim settlement ratio last 5 years

AEGON RELIGARE CLAIM SETTLEMENT RATIO 2013-14

In the last 5 years, Claim settlement of Aegon religare life insurance has increased to a significant amount. You can clearly spot out the growth of the claim settlement ratio of aegon religare has increased from 48%in 2009-10 to 81% in 2013-14.

LAST 5 YEARS CLAIMS HISTORY
YEARCLAIMS SETTLED
2009-1048%
2010-1152.31%
2011-1266.06%
2012-1366.82%
2013-1481%

Since the company was started in the year 2008 and was in a growing stage, claim settlement ratio of aegon religare was much lesser in the earlier period. Each year there was a improvement in the percentage of settlement. Now in 2014-15 the claim settlement of Aegon religare will have a increase in percentage from the previous year.

 

A comparison of Aegon religare claim settlement ratio with previous 5 years relating to number of claims.

As the year increases, the number of policies sold by Aegon religare is growing solidly. In the same time the number of claims is also increasing. Here we can see that the total claims has raised from 50 to 400 in last 5 years. Here in the below chart you can see that the Aegon religare claim settlement ratio 2013-14 is the highest when compared to last year. This can be understood that the claim ratio improves in the increase in number of years and number of claims.

CHART 3

TOTAL NUMBER OF CLAIMS LAST 5 YEARS
YEARNO OF CLAIMS         SETTLED
2009-105048%
2010-1113052.31%
2011-1227466.06%
2012-1342266.82%
2013-1440081%

Review on Aegon religare claim settlement ratio 2013-14

If you had not hided any facts to the insurance company and if your claim is genuine no company can decline your claim. In the above tables we had learnt that the company has taken many steps to improve the claim settlement ratio. So in the near future the company may even cross 90% claim settlement ratio.

Claim settlement process at Aegon religare life insurance

Aegon Religare Online claim intimation link  click here

To track your Aegon religare Claim status online click here

Download Aegon religare claim documents online click here

Aegon religare Claim requirements list Click here

 

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