Star Health & Allied Insurance limited.
Headquarters- Chennai, Tamil Nadu.
Area served- India.
Key people- V Jagannathan, Anand Roy, Dr. S. Prakash.
Products- Health, Accident, And travel Insurance.
Total Revenue--9,077.76 ( Rs million).
Number of employees- 12800 plus.
Star Health & Allied Insurance Limited, founded in 1995 and headquartered in Chennai, Tamil Nadu, is India’s foremost health insurance company. With a wide array of services including health, accident, personal, and travel insurance, Star Health has become synonymous with safeguarding the health and well-being of millions of Indians. This article delves into the history, products, awards, and recognition of Star Health & Allied Insurance, providing valuable insights into the company’s journey and achievements.
Star Health & Allied Insurance Co. Limited made its mark in 2006 as India’s pioneering health insurance provider. The company specializes in personal, health, accident, and overseas travel insurance. Notably, Star Health has focused on two major segments: retail health insurance, accounting for 89.3% of its total GWP in fiscal 2021, and group health insurance, making up the remaining 10.7%. Impressively, the majority of their business, approximately 80%, is generated through individual insurance agents, with a vast network of over 5 lakh agents.
In a significant move towards expansion, on July 21, 2021, Star Health and Allied Insurance filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI) for its initial public offering.
Star Health & Allied Insurance offers an extensive range of services encompassing health insurance, accident insurance, travel insurance, and personal insurance. These services cater to individuals, corporate clients, and families alike. The company employs various distribution channels, including brokers, agents, and online platforms, to reach its customers. With 779 health insurance branches spanning across 25 states and 5 union territories in India, Star Health is committed to providing accessible and comprehensive insurance solutions.
As of March 31, 2020, Star Health had a gross written premium of Rs 6865 Crores and an appreciable net worth of Rs 1889 Crores.
Awards and Recognition
Star Health & Allied Insurance has received several prestigious awards and accolades, underlining its commitment to excellence in the insurance industry. Some notable achievements include:
- “Best Health Insurance Provider of the Year 2018” by Business Today.
- “India’s Leading Insurance Company of the Year” at the Dun & Bradstreet BFSI Summit & Award 2019.
Star Health Insurance aimed to raise Rs 7249 Crores through its initial public offering, comprising a fresh issue worth Rs 2000 Crores and an offer for sale of Rs 5248 Crores. The IPO was open from November 30, 2021, to December 2, 2021.
- Star Health & Allied Insurance stands as the largest health insurance company in India.
- Its diversified product portfolio includes services for various insurance needs.
- The company’s robust presence in the retail health insurance segment demonstrates its leadership in the industry.
- Star Health has a proven track record of financial and operating performance.
- With over 640 branch offices across India, the company offers its services nationwide.
Star Health & Allied Insurance Limited’s journey from its inception in 1995 to becoming India’s leading health insurance provider in 2021 is a testament to its dedication to safeguarding the health and well-being of millions. Through its diverse range of insurance products and widespread presence, Star Health continues to be a trusted name in the insurance industry, ensuring that individuals, families, and businesses have access to reliable insurance coverage for their diverse needs.
Address- Star Health & Allied Insurance Co. Ltd,
Tel.No- 1800-425-2255 / 1800-102-4477