Cholamandalam Health Insurance Claim Settlement

If the insured is treated in a non-network hospital, he or she can file a reimbursement claim.  Also, the policyholder can request for a reimbursement claim on getting his or her cashless claim request rejected. Here are the steps to request the claim successfully:

• Inform the insurer about the hospitalisation immediately with policy certificate number
• Choose the medical procedure, avail it and pay the bill for the same
• Collect all the original bills and documents at the time of discharge from the hospital
• Duly fill the claim form and get it signed from the authority. After that, submit it with all the original documents to the insurer
• Approval or denial will come as per the terms and conditions of the health insurance plan

Here are some essential documents which are needed to be submitted to successfully make a reimbursement claim:

• Bill, certificate of discharge, receipts, card of the insurance policy
• Cash memos from the hospital, chemist, and labs along with proper prescriptions
• Lab test reports and any essential receipt received from pathologist
• Detailed certificate from doctor or surgeon, where nature of the operation is elaborated 
• Bills and receipts of attending physician, medical specialist, etc. and certificate of diagnosis

The Incurred Claim Ratio (ICR) is a perfect measure to understand the potential of an insurance firm. It is a ratio of claim settled by the insurer to the actual premium collected by the insurance company during that period. It unveils the productivity of a health insurance firm in terms of revenue. The Incurred Claim Ratio (ICR) of Cholamandalam MS General Insurance Company Limited for FY 2018-19 is 35%.