Star Health eyes Rs 1500-cr premium collection in FY ११
MUMBAI: Star Health and Allied Insurance Company is eyeing Rs 1500-crore premium collection by the end of this fiscal year (FY 11), a company official said."There is a huge potential in the health insurance segment as there are very few players. We being one of the leaders in the segment, we expect Rs 1500-crore premium collection by FY 11," the company's Zonal Manager, R S Nayak, told reporters here.
Apart from retail customers, the company has collaborated with different state governments and public agencies to ensure medical coverage to their employees, farmers and others.
"Out of the total premium, we expect Rs 350-crore premium from retail customers and Rs 1150-crore from government projects," he said.
Last fiscal the company collected a total premium of Rs 979 crore. The company has launched two new products - Star Unique Health Insurance and Star Wedding Gift Insurance.
The Unique Health policy provides cover for hospitalisation benefits as well as pre-existing disease after awaiting period of 11 months. The policy is available under three sum insured options- Rs 1-lakh, Rs 2-lakh and Rs 3-lakh.
The second policy offers basic health cover for the couples on a floater basis. The policy also provides for child delivery expenses.
The qualifying age-bracket for availing the benefits of the policy is 18 to 40 years.
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