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Top 10 Cashless Health Insurance in India


Summary

Cashless Health Insurance

Cashless health insurance is a type of health insurance claim settlement facility provided by the health insurance companies in which the health insurance claims would be settled directly to the hospitals without any customer intervention. The claim amount would be paid directly to the hospital in which the insured is getting treated.

A cashless claim settlement facility is available only in the network hospitals of the insurance company. The network hospitals have a package for treatments that are pre-determined and mutually agreed upon by the insurance company and the hospital. Customers availing of cashless claim settlement facility should intimate the insurance company if the treatment is pre-planned.

At least 24 hours prior intimation should be given to the insurance company for pre-planned cashless claim settlement procedures. For emergencies, most insurance companies would provide cashless claim settlement approvals within 2 hours of initiation.

The top cashless health insurance service providers in India are the ones that have the most cashless network hospitals across the country. The greater the number of network hospitals, the greater the chance for the customer to avail of the cashless claim settlement facility.

The top 10 cashless health insurance plans in India are mentioned below:

ICICI Lombard General Insurance:

ICICI Lombard is one of the largest general insurance companies in terms of GWP underwritten for FY21. ICICI Lombard offers several personal health insurance plans on a cashless claim settlement basis. ICICI Lombard has a quick claim settlement facility through their IL Take Care app, where the claims can be tracked live and the related information can be obtained from the app itself.

They have more than 6700+ healthcare providers, also known as “network hospitals,” which have tied up with ICICI Lombard to provide cashless claim settlement service to their customers. They have dedicated 24*7 customer support to assist the customers with the claim settlement by providing cashless claim settlement approvals within 2 hours.

Bajaj Allianz General Insurance:

Bajaj Allianz is one of the largest general insurance companies in India in terms of GWP underwritten for FY21. They offer multiple health insurance plans through their intermediary network. Bajaj Allianz had tied up with more than 8000 network providers of hospitals to provide cashless claim settlement facilities to its customers.

The major advantage of Bajaj Allianz General Insurance is that they have an in-house claim administration team taking care of the necessary approvals for cashless claim settlement as well as reimbursement claim settlement. The cashless claim settlement approval can be obtained within 2 hours from the Bajaj Allianz General Insurance in-house administration team.

TATA AIG General Insurance:

TATA Aig General Insurance is a brand known from the house of Tatas. The company has a considerable share in the health insurance market in India. TATA AIG has tied up with more than 7000 hospitals all over India to provide cashless claim settlement facilities to its customers.

The claim settlement ratio of TATA AIG was 94.21% which is one of the best claim settlement ratios in the insurance market. They offer round-the-clock claim assistance with their dedicated call center.

Royal Sundaram General Insurance:

Royal Sundaram General Insurance has tied up with more than 11800 hospitals across all the TPAs. They have impaneled Third party administrators to provide cashless claim settlement facilities to their customers.

The TPAs have a vast network of hospitals that provide cashless claim settlement facilities to the health insurance customers of the Royal Sundaram insurance. The cashless claim settlement approvals are received within 2 hours of intimation. A cashless claim settlement facility is available only at the network hospitals.

Care health insurance:

Care health insurance is a stand-alone health insurance company with more than 19000 network hospitals across the Globe. It is one of the companies having the highest number of cashless network hospitals in India. They have achieved a claim settlement ratio of 95.2% which is the best claim settlement ratio in the Indian insurance market.

More than 30 lakh claims have been settled by the company most of them being through cashless mode. A cashless claim settlement facility is available across the Globe which means that the company would provide a cashless claim settlement facility outside India also.

Aditya Birla health insurance:

Aditya birla health insurance is one of the stand-alone health insurance companies in India offering health insurance products to customers. They have a presence in more than 2300 Indian cities thereby increasing their reach throughout the country.

Aditya Birla health insurance has tied up with more than 10051 hospitals to provide cashless claim settlement facilities to its customers. More than 2 lakh claims have been settled by the company. The cashless claim settlement would be done at any of the network hospitals available in the country. The cashless claim settlement approval would be provided by the team within 2 hours of intimation.

HDFC Ergo (Apollo Munich) health insurance:

HDFC Ergo has acquired Apollo Munich health insurance company thus making its entry into the stand-alone health insurance space in India. HDFC Ergo health insurance has tied up with more than 10,000 network hospitals in India to provide cashless claim settlement facilities to their customers.

They have 24*7 customer support in 10 different languages to assist the customers in availing of the cashless claim settlement facility. Now HDFC Ergo offers health and non-health products under one roof and the company has expanded its footprint in the health segment as well thereby increasing its reach.

Niva Bupa health insurance:

Niva bupa health insurance is one of the stand-alone health insurance companies in India. They have obtained a stand-alone health insurance license from the Insurance regulatory and development authority of India. They have tied up with more than 8600 hospitals all over India making them the more reachable health insurance company.

They have a promise of 30 minutes cashless claim settlement approval which means that the cashless claim settlement requests will be approved within 30 minutes by the company. The 30 minutes cashless claim settlement approval has received a positive response from the customers as the cashless approvals are required by most of the customers availing health claims.

ManipalCigna health insurance:

ManipalCigna health insurance is also a stand-alone health insurance company in India. They are present in more than 600 cities with 77 branches across India. Around 96% of the cashless approvals are settled within 2 hours by the company thereby making the cashless claim settlement facility easier for the customers. They have serviced more than 138,356 claims internationally and a total of 4.59+ lakh claims services.

IFFCO Tokio general insurance:

Iffco Tokio has more than 7500 network hospitals to provide cashless claim settlement services to their customers. The claim settlement ratio of the company stood at 99.71% for FY21 which is the best claim settlement facility in the market. They have more than 20000 agents and branches to facilitate the cashless claim settlement process for their customers.

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Susheel Agarwal

Namaste. I'm Abhinay Nedunuru, a Fellow of the Insurance Institute of India with a passion to make insurance simple and crisp. I write mostly on insurance and investment. I have a passion for teaching and training in particular to insurance. I'm currently doing my PhD from IIM in Marketing Management.