Star Health and Allied Insurance Co Ltd., has drawn up plans to almost double its Gross Written Premium (GWP) to about ₹30,000 crore over the next four years.
“We are aspiring to grow faster than the industry. Our target is to double our business in the next four years,” its MD and CEO Anand Roy told the press.
In FY24, the standalone private insurer recorded a GWP of ₹15,254 crore and net profit of ₹845 crore.
“We have been growing at 22% (Compounded Annual Growth Rate) from FY20-FY24. By FY28, our target is to reach ₹30,000 crore GWP. This is an internal target,” he said.
On Wednesday, the private insurer unveiled 100% cashless home health care services in over 50 cities across India to avail treatment for infectious ailments. For this, the company has tied up with leading providers such as Care24, Portea, CallHealth and Athulya Homecare to offer in-home medical care.
Star Health Insurance customers can avail treatment for infectious ailments including fever, acute gastroenteritis, urinary tract infection and acute gastritis, by calling toll-free number 044-69006900 or through phone or the Star Health mobile app.
With this collaboration, Star Health Insurance will offer seamless accessibility to primary and critical care, integrated health care services, nursing, elderly care, physiotherapists, infant care, lab diagnostics and pharmacy at the customer’s doorstep, Mr. Roy said.
The end-to-end package covers all expenses from professional fees, nursing fees, medicine and lab tests with no out-of-pocket expenses with this service. Doctors will be available at one’s doorstep within a short span of time and customers can get easy access to medication, diagnostic tests and specialized care.
In FY24, Star Health Insurance’s retail premium in Tamil Nadu crossed ₹2,000 crore with more than 12.5 lakh policies sold.
