Insurance Of Claim Settlement. Every year the insurance regulatory and development authority (irdai) releases all life insurers' claim settlement ratios. The claim settlement ratio gives you an insight into the possibility of your insurer settling your claim.
So, if an insurance company settles 95 out of 100 claims made on it in one financial year, its claim settlement ratio would be 95%. You should check this data compulsorily before you decide on the insurer. Claim settlement ratio is the percentage of claims settled by the insurer against the number of claims received by them in one year.