Which insurers have the best claim settlement record? Apparently, all insurers are doing well as they settle more than 98% of claims. Collectively, insurers have a repudiation rate of 0.87% in terms of policies and 3.06% in terms of claim amount repudiated. In terms of the benefit amounts, it ranges between 5% and 10% for many leading insurers. LIC has an acceptable repudiation ratio at 1.45% in terms of benefit amounts. But, this should also be somewhat less.
