The incurred claim ratio of Future Generali health insurance is 88.44% for FY21-22. It is the ratio between the claims paid by the insurance company to the premiums received by the insurance company in a financial year. ICR indicates the operational efficiency of a health insurance company and its ability to pay the claims requested. A high ICR is always considered good. However, a company having an ICR of more than 100% means that the company is facing a loss because it is paying more in claims than what it is receiving as a premium.
Incurred Claim Ratio (ICR) = (Value of claims settled/ Value of premiums received)*100