New India Assurance, Royal Sundaram and Universal Sompo were the leaders in claims settlement ratios in the non-life industry, representing the number of claims settled during a period out of the total claims intimated, which is an important indicator of customer service.
In the public sector, New India Assurance is miles ahead of its peers with a claims settlement ratio of 71%, while United India has a 55.4% ratio. The other two companies — Oriental and National Insurance — have ratios of 46.7% and 45.4% respectively.
