Niva Bupa Health Insurance has signed a corporate agency agreement with LICHFL Financial Services to expand access to comprehensive health insurance solutions.Prakash Kumar Sinha, CEO, LICHFL Financial Services, said, “This partnership brings together our network and customer relationships with Niva Bupa’s health insurance capabilities.
Ankur Kharbanda, executive director & deputy CEO, Niva Bupa Health Insurance said,“ Together, we aim to make health insurance more accessible and relevant to customers, helping them prepare for healthcare needs without compromising their broader financial aspirations.”
Best decision
Excellent collaboration between Niva Bupa Health Insurance and LICHFL Financial Services. Bridging specialized healthcare coverage with a trusted national distribution network will significantly drive insurance accessibility. Congratulations to both leadership teams!
A PSU is joining hands with a private player having a British entity with majority stake. And what’s the claim settlement ratio of NIVA BUPA vis-a-vis PSGICs? Let’s have a look… ⤵️
When evaluating a health insurance provider, the Claim Settlement Ratio (CSR) indicates the percentage of claims a company successfully settles out of the total claims received in a financial year. [1]
A direct comparison of Niva Bupa Health Insurance against the four major public-sector (government-owned) general insurance companies—NICL (National Insurance), UIICL (United India), OICL (Oriental Insurance), and NIACL (New India Assurance)—shows how they stack up according to [industry-wide metrics and IRDAI-published data](https://www.policybazaar.com/health-insurance/claim-settlement-ratio/): [2, 3]
## CSR Comparison Table
Note: Public sector general insurers (NIACL, UIICL, NICL, OICL) cover both health and non-health segments, but their health-specific settlement trends cluster closely around the figures below. [4, 5]
| Insurance Company | Type | Claim Settlement Ratio (3-Year Average / Latest Trends) | Key Takeaway on Claims |
|—|—|—|—|
| Niva Bupa | Standalone Health | 93.3% to 94.4% | Fast digital processing, lower claim friction, but slightly higher customer complaint ratio. |
| NIACL (New India Assurance)[](https://www.newindia.co.in/) | Public General | 95.0% to 97.2% | Highest settlement ratio among the group with exceptionally low customer complaints. |
| UIICL (United India)[](https://joinditto.in/articles/health-insurance/united-india-health-insurance/) | Public General | 95.0% | Strong settlement rate backed by a legacy network, though administrative times can vary. |
| NICL (National Insurance) | Public General | 93.9% | Reliable middle-ground public insurer, though processes can involve more physical paperwork. |
| OICL (Oriental Insurance)[](https://orientalinsurance.org.in/) | Public General | 93.1% | Decent baseline settlement, though historically slower turnaround times on reimbursement claims. |
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Wonderful. An arm of the socalled @LICIndiaForever is evidently bent upon to strengthen a private player with foreign domination, may be “for ever” but at the expense of its brothers in the Public Sector.
Yet another glaring example of how Public Sector as a whole is being taken to the graveyard, slowly but surely.
The public in general deserve an answer on what’s the real reason behind.
LICI and its subsidiary owe us an explanation.