Motor Claim Settlement Ratio by Insurer (FY2024-25)
Percentage of motor claims settled out of claims received, per IRDAI's FY2024-25 Annual Report. Higher is better.
Private Sector Insurers
| Insurer | Claim Settlement Ratio |
|---|
Public Sector Insurers
| Insurer | Claim Settlement Ratio |
|---|
Industry-wide average claim settlement ratio for FY2024-25: 94.03%. Industry-wide incurred claim ratio (claims paid as % of premium collected) for motor: approximately 85.51%. This table lists insurers with individually reported figures — it isn't exhaustive of every insurer writing motor business in India.
💡 Claim settlement ratio tells you how often an insurer pays. It says nothing about garage network density, turnaround time, or how much of your repair bill it actually covers once add-ons like zero depreciation are factored in — check those separately.
Reading These Numbers
Claim Settlement Ratio (CSR)
The percentage of claims settled out of all claims received, by count, in a given year. A 98% CSR means the insurer paid out on 98 of every 100 motor claims filed — a strong, direct signal of claims-paying reliability.
Incurred Claim Ratio (ICR)
Total claims paid divided by total premium collected, by value. The industry-wide motor ICR of ~85.51% means insurers collectively paid ₹85.51 in claims for every ₹100 collected in motor premium — a healthy range that reflects competitive but sustainable motor pricing across the market.
What to Check Beyond the Ratio
- Garage network near you: A 99% claim ratio means little if the nearest cashless garage is 40km away.
- Add-ons: Zero depreciation, engine protection and return-to-invoice cover often determine your actual payout more than a few points of claim ratio difference between two well-rated insurers.
- Claims turnaround time: Some insurers now settle straightforward digital claims in minutes rather than days — worth asking about directly.
Frequently Asked Questions
Which motor insurance company has the highest claim settlement ratio?
Acko (99.98%) and Reliance General (99.32%) report the highest motor claim settlement ratios among private insurers for FY2024-25. Among public sector insurers, United India Insurance leads at 95.26%. The industry-wide average is 94.03%.
What is SBI General car insurance's claim settlement ratio?
SBI General reports a motor claim settlement ratio of 97.51% for FY2024-25 — above the industry average of 94.03%.
What is Royal Sundaram's claim settlement ratio for motor insurance?
Royal Sundaram reports a motor claim settlement ratio of 95.82% for FY2024-25 — above the industry average of 94.03%, though below the leading private insurers.
Where does this data come from?
Figures are sourced from IRDAI's Annual Report for FY2024-25. Always verify the latest IRDAI Annual Report before making a final decision, as ratios are revised annually.
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