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Canara HSBC OBC life insurance Claim settlement Ratio 2013-14

Canara HSBC OBC life insurance Claim settlement Ratio 2013-14

In this post we are going to analyse the Canara HSBC OBC 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 Canara HSBC OBC claim settlement ratio 2013-14 with previous 5 years. Kindly go through the table and understand the Pie chart provided.  2

 

CANARA HSBC OBC LIFE INSURANCE CLAIM SETTLEMENT RATIO 2013-14
Claims settled86.76%
Claims Rejected10.69%
Claims pending at year end2.55%

The above picture and table says that out of 100 claims that came to Canara HSBC OBC Life insurance, 86.76% are settled and 10.69% is rejected during 2013-14. At the end of the financial year 2013-14, the company has a pending claim of around 2.55%.

 

Canara HSBC OBC life insurance claim settlement ratio last 5 years.

In the last 5 years, Claim settlement of Canara HSBC OBC Life insurance has improved to a greater extent. You can clearly spot out the growth in the claim settlement ratio of Canara HSBC OBC Life insurance which has increased from 39%in 2009-10 to 86.76% in 2013-14.

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LAST 5 YEARS CLAIMS HISTORY
YEARCLAIMS SETTLED
2009-1039%
2010-1171.02%
2011-1280.58%
2012-1388.44%
2013-1486.76%

A comparison of Canara HSBC OBC claim settlement ratio with previous 5 years relating to number of claims.

Since from inception in 2008, the company has grown in both the number of policies sold and the number of claims settled. The company has a decent claim settlement ratio in the past 3 years. Now in 2014-15 the claim settlement of Canara HSBC OBC Life insurance is having a downfall in the settled ratio by 1.89%

The number of claims has increased from 36 in 2009-10 to 544 in 2013-14.

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TOTAL NUMBER OF CLAIMS LAST 5 YEARS
YEARNO OF CLAIMS         SETTLED
2009-103639%
2010-1120171.02%
2011-1236180.58%
2012-1352888.44%
2013-1454486.76%

 

Review on Canara HSBC OBC 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. The company has maintained a decent claim settlement ratio. Here there is an important point to be noted. The company has launched an new initiative “Immediate Payout on Death Claim Registration”. Here the company is settling the claims immediately after intimating the claim without waiting for any documents. But there is some conditions for this “Immediate Payout on Death Claim Registration” initiative.

Claim settlement process at Canara HSBC OBC Life insurance 

Canara HSBC OBC Life insurance Online claim intimation link click here

To track your Canara HSBC OBC Life insurance Claim status online – You cannot track the claim online here.

Download Canara HSBC OBC Life insurance claim documents online click here

 

 

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

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