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What is the difference between these two parameter for claims experience in the TruMatch report?
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28 Jun, 2022
by Vijay Kumar
TruMatch report from Beshak Insurance has these two parameters in the Claims Section.
% of Complaints received on overall claims
and
% of Claims Grievances received.
What is the difference between these two parameters?
And how is it 0% for Tata AIG?
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Hi Vijay! Apologies for the delayed response. The parameter "% of Claims Grievances received" indicates the total claim related grievances received by the insurer's TPA vs the total claims their TPA received. The numbers have been taken from the TPA Disclosures of the respective insurance companies, whereas, the parameter "% of Complaints received on overall claims" indicates the total claim complaints received by any insurance company vs the total claims they received. These numbers have been taken from the Public Disclosures of the respective insurance companies.
It seems the screenshot shared by you is from a very old report. "0%" for TATA AIG was an error from our end and the same had been rectified.
Hope this helps.
Thanks!