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The Top 5 Health Insurance Companies in India

Published On Jan 22, 2021

Getting Health Insurance is one of the most important decisions you make and to have a company that is reliable and user-friendly is necessary so that you have adequate protection and support to protect yourself against the unforeseen circumstances life might bring along.

The following are the best health insurance companies in India, ranked on basis of their Health insurance Claim Settlement Ratio from FY 2018 - 2019:





Care Health Insurance



Manipal Cigna Health Insurance



Max Bupa Health Insurance



Bharti AXA Health Insurance



Star Alliance Health Insurance


1. Care Health Insurance:

The Care Health insurance company was formerly known as Religare Health, it is a specialized insurance company that offers health insurance plans to individuals, families, and corporate. The company was established in 2012 and has grown fundamentally since then, with more than 5000 employees working out of 1000+ offices across the country.

The company also has 11,000 Hospitals in its network, providing easy access to cashless hospitalization. Due to the several benefits the company offers it has been awarded the 'Best Health Insurance Company' at the ABP News-BFSI Awards, 'Best Claims Service Leader of the Year – Insurance India Summit & Awards along with the 'Editor's Choice Award for Best Product Innovation' at Finnoviti and was also named the 'Best Medical Insurance Product Award' at The FICCI Healthcare Awards.

2. Manipal Cigna Health Insurance

Manipal Cigna is a joint venture between Manipal Hospitals and Cigna Corporation, making it one of the leading names in the health insurance market, offering affordable and efficient plans for individuals, families, and corporate groups. The company has 6500+ hospitals in its network across India, making cashless hospitalization convenient for its customers.

It offers policies for hospitalization cover, Critical illness cover, personal accident cover, daily cash allowance. The testament to the corporation's efficiency is the several awards it has received including the ‘The Best Health Insurance Company Of The Year’ at the India Insurance Summit Awards 2019 and the Red Hat APAC Innovation Award for Digital Transformation, 2020.

3. Max Bupa Health Insurance

The Max Bupa Health Insurance company is a joint venture between True North, an Indian equity firm, and Bupa, a company leading in the healthcare sector across the globe established in 2008. Its customer centric policies make it a favorite amongst customers. It offers a vast range of health insurance policies, such as individual health insurance, family floater insurance policy, and top-up insurance cover, catering to the consumer's individual medical needs. It has 5000+ network hospitals in PAN India making cashless hospitalization convenient and settles most claims within 30 minutes.

Max Bupa’s efficiency can be seen from the various awards it has been awarded including The Economic Times Best Brands 2019 award and The Super Brand 2019 award.

4. Bharti AXA Health Insurance

The Bharti AXA health insurance company is a joint venture between Bharti Enterprises and AXA, established in 2008.

The company has 135 branches across India, offering affordable policies and widely being considered as reliable and innovative by its consumers. It issues health policies to individuals and families covering several illnesses, injuries, cover pre and post-hospitalization charges, and maternity benefits. It has 4500+ hospitals connected to its network PAN India, allowing consumers to convenient access to cashless hospitalization.

It has been the recipient of several awards, a reflection of its excellence. It has been awarded Best Use of Technology Award by Assocham 2020, Customer Service Excellence Award at BFSI Awards 2019, and Claims Service Of The Year Award at BFSI Awards, 2018 among others.

5. Star Alliance Health Insurance

Established in 2006, Star Alliance is one of the leading names in the insurance market, and with good reason. They have more than 550 branches across India and an impressive 10,000+ hospitals in their network, making cashless hospitalization convenient for their clients. 90% of their claims have been settled in less than 2 hours, a testament to their efficiency. Star Health Alliance offers insurance policies to individuals, families, and corporates. They have a wide range of plans, catering to the diverse requirements of the consumers.

The company has been awarded the Health Insurance Provider of the Year Award by Business Today, Money Today Financial Awards 2018-2019, and the Best BFSI Brand Award 2019 by Economic Times among several other awards.

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While making a decision as important as buying health insurance, it's important to consider your options wisely and choose a reliable company that best suits your needs. The following companies ranked according to Claim settlement Ratio (FY 2018-2019) are among the best in the market: Care Health Insurance, Manipal Cigna, Max Bupa, Bharti AXA, and Star Health.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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