Star Health Explores Future Prospects Amid Regulatory Shifts

Star Health and Allied Insurance Company Ltd expresses interest in diversification if a composite licence emerges, despite its absence in the new insurance bill. The company continues to expand its health insurance-business footprint and is focusing immediate efforts on strengthening its core services and exploring digital and wellness offerings.

Star Health and Allied Insurance Company Ltd is exploring diversification opportunities should a composite licence framework be introduced. Although the current insurance bill does not include such a framework, the company maintains a long-term interest in diversifying its offerings.

CEO Anand Roy emphasized that the focus remains on strengthening its core health insurance business due to blossoming demand and increasing awareness. The insurer is broadening its reach in West Bengal, where it achieved a 10% year-on-year rise in gross written premiums.

Star Health is keen on improving customer experience, with 85% of claims settled through a cashless mode backed by an extensive network of hospitals. The company also plans to expand digital offerings like telemedicine and preventive health checkups, supported by ongoing CSR initiatives.

(With inputs from agencies.)