Did you know that Indian insurance companies have been consistently posting high Incurred Claims Ratio (ICR) in health insurance - to the tune of 97%? This is good news for policy takers. The public sector undertakings have been especially generous, with 3 out of 4 such companies posting more than 100% ICR in the fiscal year 2013-14.
ICR denotes the ratio of overall claim amount paid (losses incurred) with respect to the amount that the company received as premiums. A high ICR rating implies that the company has been potentially paying out almost all the claims. Government controlled insurance firms have a higher ICR of almost 100%, while most of the private firms also have good ICR ratios from a clients' perspective.
Top 10 health insurance companies in Jaipur
Jaipur, the Pink City, is home to the 10th largest population in India. Jaipur was established in 1727, and today is one of the most important cities in Western India. Jaipur records the highest number of diseases in Rajasthan, mostly air and water-borne diseases. As such, the people of this city have to be careful about their health, and getting a health insurance policy is the best way to be prepared for any unforeseen health complication. In Jaipur, customers can opt for any of the below mentioned general insurance firms:
Public Sector Providers
- New India Assurance is a government-owned general insurance provider operating out of Mumbai. The company provides personal health insurance policies like Family Floater Mediclaim Policy, Janata Mediclaim, Pravasi Bharatiya Bima Yojana, New India Top up Mediclaim and other attractive policies.
- Oriental Insurance, based out of New Delhi, is the 4th largest general insurance provider in the country in terms of premium collection. The company provides comprehensive mediclaim coverage in Jaipur.
- National Insurance, headquartered in Kolkata, operates a good number of offices in Jaipur. The firm provides general insurance policies and is a great bet for taking health insurance policy in a firm with high ICR.
- United India Insurance is among the top 4 general insurance providers in India, with a sizable presence in Jaipur. The company is known for its complex policy coverages to large number of corporate customers, such as ONGC, GMR, etc.
Private Sector Providers
Religare Health Insurance: The benefits of Religare Health Insurance can be availed through its tie-ups with various hospitals like ASG Hospital Pvt Ltd, Apollo Spectra Hospitals, Global Heart And General Hospital, Jain ENT Hospital and Saket Medicare and Research Centre Pvt.Ltd.
- HDFC Ergo General Insurance is the second largest private sector general insurance firm in India. With a comprehensive network of around 102 hospitals in the city, customers can be at ease with the cashless facilities when treating health concerns.
- Bajaj Allianz General Insurance is a major player in the private sector. The firm has a networked hospitals list exceeding 80 such installations in Jaipur including Vasan Eye Care, Narayana Hrudayalaya, Mahatma Gandhi Hospital, and many more.
- ICICI Lombard General Insurance has tieups with a network of 53 cashless hospitals in Jaipur. It is the largest private sector insurance firm in India, and has posted great growth over its decade-old career.
Standalone Health Insurance Firms
- Max Bupa Health Insurance is a major player in the standalone health insurance provider segment. It has a wide network of hospitals at 72 hospitals, which provide cashless facilities for customers of Max Bupa.
- Star Health and Allied Insurance , with its network of 57 hospitals in Jaipur, is a strong option for taking health insurance policies. It is also the largest standalone health insurance provider in India.
- Apollo Munich Health Insurance has a list of 37 networked hospitals in Jaipur, where customers can avail healthcare through cashless facility.
News About Health Insurance
Bhamashah Health Insurance Scheme (BHIS) will cover 1,175 diseases
The state government of Rajasthan, has included over 1,175 diseases under its insurance scheme, Bhamashah Health Insurance Scheme (BHIS). This will be divided into 3 different categories secondary illnesses covering almost 1,045 diseases, tertiary covering 500 diseases and others covering 170 diseases. All government hospital will treat people suffering from any diseases or illnesses under this scheme. The insurance cover for secondary illness will be an amount of Rs. 30,000, and the tertiary illness, will have an amount of Rs. 3 lakh. The tertiary illness will cover treatments like cardiology, including coronary balloon angioplasty, refractory cardiac failure, related to burns, lung cyst and more will be covered. The insurance will be applicable even in private hospitals which will be enlisted by the department of health.
26th October 2015
GST rate of 18% applicable for all financial services effective July 1, 2017.
Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.