New India Assurance Health Insurance Claim Settlement Ratio, Process

New India Assurance Health Insurance Claim Settlement Ratio

The New India Assurance health insurance claim settlement ratio determines the insurer’s ability to settle your mediclaim requests. The higher is the claim settlement ratio, the more are the chances of your claim getting settled.

In the financial year of 2021-2022, the New India Assurance Company earned a claim settlement ratio of 97.7%, which is one of the highest in the industry. This helps to build the customers’ trust in the insurer and makes the insurer one of the most sough-after health insurance providers in India.

New India Assurance Health Insurance Claim Process

Policyholders can raise two types of claims with The New India Assurance Company - Cashless claims and Reimbursement claims. Take a look at the claim process for both types of claims below:

Cashless Claim Process:

To file a cashless claim, the insured must get admitted to a network hospital of the insurance company and follow the steps given below:

Notify the TPA of the insurer about your emergency hospitalization within 24 hours and planned hospitalization at least 48 hours before.
Fill up the pre-authorization form and submit it to the hospital.
The network hospital will send the form to the TPA for cashless treatment approval.
The TPA will review your request and grant authorization as per the policy terms and conditions.
Once your treatment is complete, the insurer will pay the treatment cost directly to the hospital.

Reimbursement Claim Process:

For processing health insurance reimbursement claims, you need to follow the process mentioned below-

Intimate the insurer’s TPA about your planned hospitalization at least 48 hours in advance. In case of medical emergencies, inform the New India Assurance health insurance team within 24 hours of hospitalization.
Get treatment and pay all the hospital bills during discharge.
You need to submit all the required documents within 7 days of being discharged from the hospital.
The TPA will verify the documents as per the policy terms and conditions and pay the claim amount on approval.

Documents Required for New India Assurance Health Insurance Claims

The documents required to file a New India Assurance health insurance claim are listed below-

Duly signed and filled out New India Assurance medical insurance claim form
Test reports and investigation reports with notes from the attending doctor
Chemist bills with doctor’s prescription
Hospital bills (with hospital signatures and stamps)
Hospital discharge summary (in original)
Physician’s certificate authenticating the nature of the treatment or surgery
Attending doctor’s bill, payment receipt and diagnosis certificate

Further documentation may be required as per the claim.

For more details, you can speak to the customer care team of Policybazaar.com at 1800-208-8787 or email them at care@policybazaar.com.

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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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