Insurance
Claim Settlement Ratio
Also known as: Settlement Ratio, Claims Ratio
Percentage of death claims settled by an insurance company out of total claims received.
Detailed Explanation
Claim settlement ratio indicates the percentage of death claims that an insurance company has settled versus the total claims received during a year. A higher ratio (95%+ is good) suggests better claim settlement practices and reduced likelihood of claim rejection. This is a key metric for choosing insurers.