The Insurance Regulatory and Development Authority of India's (Irdai) latest data for FY25 reveals that the non-life insurance industry's incurred claim ratio (ICR) rose to 82.88%. This ratio indicates the proportion of premium income spent on settling claims, with an 85% ICR meaning Rs 85 paid for every Rs 100 collected. Experts consider ICRs between 70-90% as healthy, noting that very low ratios may suggest restrictive practices and high ratios can signal financial strain.