Health Insurance comparison
Niva Bupa vs Galaxy Health
Galaxy Health is too new for us to score, so we do not call an overall winner. Compare the IRDAI figures below instead.
IRDAI figures side by side
| Measure | Niva Bupa | Galaxy Health |
|---|---|---|
| Claim settlement ratio (latest year)Claims paid out of claims decided, by number. 95% or more is strong; below 90% is a flag. | 92.55% in FY 2024-25 | 79.37% in FY 2024-25 (small sample) |
| 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. | 10,24,782 reported, 9,42,543 paid | 75 reported, 50 paid |
| Three-year average claim settlement ratioShown only when all three years are available. | 91.74% | Not available |
| Incurred claims ratioClaims incurred as a share of premium earned, from IRDAI's Annual Report. | 61.63% in FY 2024-25 | 8.33% in FY 2024-25 |
| Complaints to IRDAIGrievances reported, from IRDAI's Handbook. | 7,970 in FY 2024-25, 77.8 per 10,000 claims | Not available |
| Solvency ratioIRDAI's minimum is 1.50. | 3.03 at 31 Mar 2025 | 4.70 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.
Niva Bupa
8.2/10Strong health insurer for families with solid restoration features.
Pros
- Good restoration options
- Strong plan variety
Cons
- Can be premium-priced
- Policy terms still require careful reading
Galaxy Health
Not scored yetA new standalone health insurer (IRDAI registration no. 167). Its first year, FY 2024-25, is too small to judge: 75 claims reported and 50 paid. We have not scored it yet.
Pros
- Solvency ratio of 4.70 at 31 March 2025, well above IRDAI's 1.50 minimum (IRDAI Annual Report 2024-25)
Cons
- Only 75 claims reported in FY 2024-25, too few for a meaningful claim settlement ratio
- We could not find FY 2024-25 grievance figures for it in IRDAI's Handbook, so there is no complaints record yet
The verdict
We have not scored Galaxy Health yet: there are too few claims on record to judge. Use the IRDAI figures above, check the network hospitals near you and read the policy wording before buying.