Health insurance companies are seeing the number of Covid-19-related claims rising, e
Health insurance companies are seeing the number of Covid-19-related claims rising, even as the pace of growth has slowed since the August-December period.
As of February 25, general and standalone health insurers have received 908,849 Covid-related claims, amounting to Rs 13,752.41 crore, according to the data compiled by General Insurance Council, which is not publicly available.
They have settled 761,676 claims, amounting to Rs 7,141.33 crore, almost 15 per cent of the health premiums the insurers have collected till January.
Overall, the insurers have settled almost 84 per cent of the claims in terms of the number of claims, and 52 per cent in terms of the amount of claims.
At the end of July, only 81,000 Covid-19 claims were filed with insurers. That number doubled in a month’s time to 160,000, and breached 475,000 by October-end. By mid-November, the figure had surpassed 576,000, reaching 664,488 by early December amounting to Rs 9,989.89 crore.
The average Covid claim received by the insurers is around…