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Bharti AXA claim settlement ratio (Life insurance)- 2013-14 Review

Bharti AXA claim settlement ratio 2013-14(Life insurance)

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 Bharti AXA Life insurance 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 Bharti AXA claim settlement ratio 2013-14 with previous 5 years. Kindly go through the table and understand the Pie chart provided.

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Bharti AXA Life insurance CLAIM SETTLEMENT RATIO 2013-14
Claims settled88.13%
Claims Rejected9.74%
Claims pending at year end2.13%

Bharti AXA claim settlement ratio last 5 years. The above picture and table says that out of 100 claims that come to Bharti AXA Life insurance 88.13% are settled and 9.74% is rejected. At the end of the financial year 2013-14, the company has settled all the claims and has no claims pending.

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In the last 5 years, Claim settlement of Bharti AXA Life insurance life insurance has increased to a significant amount. You can clearly spot out the growth of the claim settlement ratio of Bharti AXA Life insurance has increased from 77.80%in 2009-10 to 88.13% in 2013-14.

LAST 5 YEARS CLAIMS HISTORY
YEARCLAIMS SETTLED
2009-1077.80%
2010-1187.17%
2011-1267.70%
2012-1389.48%
2013-1488.13%


A comparison of Bharti AXA claim settlement ratio with previous 5 years relating to number of claims.

Since from inception in 2006, the company has grown multi-fold. With the increase in the number of policies sold. the number of claims also was increasing. The company has a decent claim settlement ratio in the past 5 years. Now in 2014-15 the claim settlement of Bharti AXA Life insurance is having a downfall in the settled ratio by 1.35%

The number of claims has increased from 382 to 950 in 2013-14.

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TOTAL NUMBER OF CLAIMS LAST 5 YEARS
YEARNO OF CLAIMS         SETTLED
2009-105077.80%
2010-1113087.17%
2011-1227487.70%
2012-1342289.48%
2013-1440088.13%

Review on Bharti AXA claim settlement ratio 2013-14(Life insurance)

If you had not hided any facts to the insurance company and if your claim is genuine no company can decline your claim. The company is having special claim settlement process for the recent natural calamities like floods in Jammu & Kashmir and cyclone HudHud in Andhra Pradesh & Odisha.  The company is taking many steps to make claim settlement a easy process. It had given special Claims Help Desk  for these kind of claims. And Its claim settlement TAT is very attractive. They try maximum to settle the claim in as minimus as 5 days.

Claim settlement process at Bharti AXA Life insurance 

Bharti AXA Life insurance Online claim intimation link  click here

To track your Bharti AXA Life insurance Claim status online click here

Download Bharti AXA Life insurance claim documents online click here

Bharti AXA Life insurance Claim requirements list Click here

Bharti AXA claim settlement ratio

You can have a look at the complete list of claims settlement Ratio 2013-14 for all the companies.

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