Top 10 Health Insurance Companies in India

Health insurance is generally considered one of the most important investments in an individual's life. Currently, there are a plethora of insurance companies available in India that offer a range of health insurance plans to customers. Here in this article, we will provide a comprehensive guide about the best health insurance companies in India that offer good healthcare insurance plans to customers.

1. Star Health and Allied Insurance Co. Ltd.

Emerging as one of the leading companies for health insurance is Star Health and Allied Insurance Company Limited. This company has a huge customer base and helps its customers by providing comfort as well as financial security in difficult times. They have a range of health insurance programs, including Aayush treatment. They also have a network of 14,000+ hospitals that provide the best medical care facilities. Customers can get a 360-degree wellness system if they purchase their health insurance from this company and can also avail cashless claims within two hours.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 65.00%
• Solvency Ratio (2022-23) -?
• Network Hospitals (2022-23) - 14000+

2. ICICI Lombard

Emerging as a leading insurance company in the Indian insurance sector is ICICI Lombard. This company is a joint venture of ICICI Bank of India and Fairfax Financial Holdings from Canada. They offer a wide array of health insurance plans that cover hospitalization, ambulance charges, and daycare procedure charges. They offer a special family floater plan where the health insurance covers up to five members of the family. Apart from this, they also offer a super top-up plan to give additional coverage to the family. This company has successfully insured more than 32.7 million policyholders and is growing exponentially.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 77.33
• Solvency Ratio (2022-23) - 2.52
• Network Hospitals (2022-23) - 7,500+

3. Acko General Insurance Co. Ltd.

Established in 2016, Acko General Insurance Company Ltd. has been catering to the needs of customers diligently. They offer various healthcare insurance plans according to the needs of customers of different age groups. They offer zero deductions on claims and healthcare plans up to Rs. 1 crore. They also offer unlimited restoration of the sum insured on their healthcare insurance plan. They provide various add-on facilities like doctor on call, room rent waivers, and more. Thus, Acko General Insurance is also a good choice for health policy-seeking customers.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 83.88
• Solvency Ratio (2022-23) - 4.26
• Network Hospitals (2022-23) - 14,300+

4. Bajaj Allianz General Insurance Co. Ltd.

Bajaj Allianz General Insurance Co. Ltd. is another top choice for customers looking for a health insurance company in India. They provide a range of insurance programs that can be taken by people of different age groups. They are popular for offering three major health insurance plans, which include Health Guard, Silver Health, and Star Package. Their programs cover senior citizens, individuals, and families. They settle cashless claims within 60 minutes. With the given perks, it is a popular choice among customers.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 74.27
• Solvency Ratio (2022-23) - 3.68
• Network Hospitals (2022-23) - 11,000+

5. TATA AIG | Health insurance company in India

Tata AIG Health Insurance is another great insurance company that offers a wide range of healthcare insurance plans. This company is a joint venture of the Tata Group and AIG Group. They have healthcare plans that can be taken by families, individuals, senior citizens, women, and children. Their plans provide financial assistance and protection in terms of surgeon costs, accident hospitalization, and much more. They also offer 24-hour claim settlement. Policyholders can opt for a sum insured up to Rs. 3 crore.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 78.33
• Solvency Ratio (2022-23) - 1.94
• Network Hospitals (2022-23) - 10,000+

6. HDFC ERGO General Insurance Co. Ltd.

HDFC ERGO Health Insurance is another premium health insurance company in India, which is a collaboration between HDFC Bank and ERGO International. This company is renowned for offering consumer-oriented health insurance plans that are comprehensive and have become a prominent choice with a wide range of healthcare coverage solutions. This company has 12,000+ branches across 170+ places in the world. They are widely renowned for their transparency and customer satisfaction. They offer 100% coverage restored after the first claim. Customers also get free health checkup facilities after 60 days of policy renewal.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 79.04
• Solvency Ratio (2022-23) - 1.75
• Network Hospitals (2022-23) - 12,000+

7. Go Digit Health Insurance

Go Digit Health Insurance is the first Insurtech start-up in India or a new-age health insurance company in India founded in 2016 by Mr Goyal. Since?its operations in 2016, and to date, it has covered more than 50 lakh customers. Their health insurance plans do not have age-based co-payments, and they also have no room rent limits for most of their health insurance plans. With the given perks, Go Digit Health Insurance has emerged as a leading destination for health insurance-seeking customers.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 71.87
• Solvency Ratio (2022-23) - 1.96
• Network Hospitals (2022-23) - 16,400+

8. Kotak Mahindra Health Insurance

Kotak Mahindra Health Insurance commenced its operations in 2015 and to date, it has multiple policyholders. The company provides a wide range of health insurance products, such as Kotak Health Care, Kotak Health Premier, and Kotak Secure Shield, that are made to meet every customer requirement.?

They are renowned for offering 24/7 customer care assistance provided by the insurer. They stand apart as they offer free health checkups under specific Kotak health plans and also offer fascinating rewards for maintaining a healthy lifestyle. They also offer various optional covers for home nursing, etc. Thus, Kotak Mahindra Health Insurance is another distinguished choice for customers.

Key Highlights Data

• Incurred Claim Ratio (2022-23) - 56.01%
• Solvency Ratio (2022-23) - 2.95
• Network Hospitals (2022-23) - 9000+

Frequently Asked Questions

Q. Which company is best for health insurance in India?

Multiple companies in India offer healthcare insurance plans to customers. In this article, we have provided a comprehensive guide about the premium insurance companies and their great healthcare insurance plans. You can go through them to find a suitable one for yourself.

Q. Which healthcare insurance company is best in claim settlement?

When it comes to claim settlement, a healthcare insurance company that stands apart as the best choice is Reliance General Insurance. It has 98.75% of claims settled within the first three months of initiating the claim in the year 2023-24.

Q. Which company has the best health insurance plan?

There are multiple insurance companies available in India that offer a wide array of health insurance plans. In this article, we have listed the premium ones that offer the best health insurance plans to customers.