Health Insurance comparison
HDFC Ergo vs ICICI Lombard
HDFC Ergo leads on overall score, but the better choice depends on your priorities. Here is how they compare, dimension by dimension.
IRDAI figures side by side
| Measure | HDFC Ergo | ICICI Lombard |
|---|---|---|
| Claim settlement ratio (latest year)Claims paid out of claims decided, by number. 95% or more is strong; below 90% is a flag. | 97.47% in FY 2024-25 | 85.43% in FY 2024-25 |
| Claims counted in that yearBelow 1,000 claims, the ratio swings too much to compare. Each insurer's review names the exact IRDAI table used. | 10,67,035 reported, 10,42,906 paid | 12,50,322 reported, 10,67,192 paid |
| Three-year average claim settlement ratioShown only when all three years are available. | Not available | Not available |
| Incurred claims ratioClaims incurred as a share of premium earned, from IRDAI's Annual Report. | 87.04% in FY 2024-25 | 85.53% in FY 2024-25 |
| Complaints to IRDAIGrievances reported, from IRDAI's Handbook. | 7,326 in FY 2024-25, 22.6 per 10,000 claims | 7,782 in FY 2024-25, 23.8 per 10,000 claims |
| Solvency ratioIRDAI's minimum is 1.50. | 2.00 at 31 Mar 2025 | 2.69 at 31 Mar 2025 |
Sources: IRDAI Handbook on Indian Insurance Statistics 2024-25, IRDAI Annual Report 2024-25 and insurers' NL-37 public disclosures. Each insurer's review lists the exact table and link. See how we calculate these.
On the latest claim settlement ratio, HDFC Ergo is ahead. A ratio is one year's record, so weigh it with complaints and the plan wording.
Side-by-side scores
| Dimension | HDFC Ergo | ICICI Lombard | Winner |
|---|---|---|---|
| Overall score | 8.4/10 | 7.9/10 | HDFC Ergo |
| Claim settlement | 8.6/10 | 8.1/10 | HDFC Ergo |
| Value | 8.2/10 | 7.4/10 | HDFC Ergo |
| Customer service | 8/10 | 7.8/10 | HDFC Ergo |
| Digital experience | 8.4/10 | 8.2/10 | HDFC Ergo |
| Flexibility | 8.5/10 | 7.6/10 | HDFC Ergo |
HDFC Ergo
8.4/10Strong large-brand option with excellent network depth and standout Optima Secure plans.
Pros
- Very large hospital network
- Strong Optima Secure structure
- Good digital servicing
Cons
- Premiums can be high
- Older or basic variants need careful comparison
- Global cover may not be needed by most buyers
ICICI Lombard
7.9/10Large-brand option with a broad network, but it settled 85.4% of health claims by number in FY 2024-25, below our 90% flag line.
Pros
- Strong app experience
- Large network presence
Cons
- Price can trend high
- Feature depth varies by plan
- Health claim settlement ratio of 85.4% in FY 2024-25 (Form NL-37)
The verdict
On our scoring, HDFC Ergo edges ahead overall. That said, the loser may still win for you on a dimension you weight heavily, so match the table above to your priorities and read both full reviews.