Best Life Insurance Company of the Year
- Claim Settlement Ratio
- Net worth/Shareholder Capital
- Persistency Ratio -13th and 61st month
- New Business Premium CAGR
- Number of complaints received per ten thousands customers
- Net Promoter Score
- Number of services of the insurance company that are quality certified
Best General Insurance Company of the Year
- Technical Reserve to Net Premium Ratio
- Combined Ratio
- CAGR of Premium
- Shareholder Capital
- Claim Settlement Ratio
- Net Promoter Score
Company with the Best Health Insurance Coverage of the Year
- Numbers of Health Insurance Policies in operation
- Average Time to settle a Health Claim
- Average Claim Size
- Retention Ratio
- Claim Settlement Ratio
- Repudiated Claim Ratio
Award for the most effective adoption of Technology into the insurance business
- Ratio of expenditure made on IT cell to total operational expenditure
- Ratio of IT Professionals to total employees
- Ratio of number of online policies sold vis a vis total policies sold
- Ratio of number of claim settled online vis a vis total claim settled
- Persistency Ratio average over 5 years (policy)
Company with the Best Risk Management Strategy of the Year (Life/General)
- Persistency -13th month & 61st month
- Reserve Adequacy Ratio
- Solvency Margin
- Average TAT to resolve customer’s grievances
- Claim Repudiation Ratio
- Risk Retention Ratio
Best strategies for ‘Insurance Spreading’ for the Year
- Number of branches
- Percentage of growth in number of Agents/Brokers/Corporate agents
- New Digital initiatives Insurance Company for penetration in all levels of society.
- Number of policies CAGR
Best Broker of the Year
- Number of insurance companies with which policies have been placed
- New Business growth CAGR
- Number of claims settled vis a vis claims raised by clients
- Persistency Ratio
- Average number of complaints per hundred customers
Best Innovation and Diversification (Product/Process) introduced by a Company in the Year
- Innovative and diversified product percentage to total sales
- Reason to consider the product/process as innovative
- How innovative product/process deliver value to customer
Best Reinsurer of the Year Region Wise (Life/General/Health)
- This award seeks to honor a company which has helped the life insurance market to grow.
- A company which has been proactive in managing risk.
- A company which best responded to the needs of life insurance companies.
Best People Oriented Insurance Company (Life/General/Health)
- Share of Protection in New Business along with CAGR of new business.
- Number of Products which cater to women, minority groups, people with disabilities and LGBT individuals
- Demonstrates why the diversity and inclusion strategy was implemented
- Persistency Ratio-13th Month
- Average number of complaints per thousand customers
Women in Insurance Leadership
- Number of years in top management with details of role
- Number of products cater to women specifically
- Total number of women employees to total employees
Best Practices in Crop Insurance
- Percentage of crop insurance premium to total premium
- Retention Ratio of Crop Insurance
- Loss Ratio of Crop Insurance
