Health Insurance Claims Soar 11% to Rs 94,248 Cr in FY25; Cashless Dominates

• Health insurance claims surged 11% YoY to Rs 94,248 crore in FY25, covering 3.26 crore claims for 58 crore lives.
• Cashless settlements were predominant, accounting for 58% of claims by number and 66% by value.
• Government schemes covered 42.3% of lives, while group policies contributed 52.3% of total premiums.
• The incurred claims ratio (ICR) improved to 86.98% from 88.15% in the previous year.
• Insurers settled 87% of claims, with 8% repudiated and 5% pending by March 31, 2025.

Why It Matters: India's health insurance claims soared in FY25, with cashless settlements and improved ICR.